News Column

Nimrod Sea Assets Invests USD6.7 Million In Three Supply Vessels

June 19, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Nimrod Sea Assets Ltd Thursday said it has completed its first transaction, worth USD6.7 million, by taking a minority investment in three long-term supply vessels.

The investment company in marine assets said the three 10 800 BHP AHTS supply vessels are considered to be in excellent condition and have been operating to a high standard in the region. They are on long-term charter to Singapore-listed offshore contractor Swiber.

The vessels - The Swiber Elsie-Marie, Swiber Anne Christine, and Swiber Mary-Ann - were built in 2009 and 2010, and will continue operating on bareboat charter to Swiber until the financial year ended 2020.

Nimrod Sea Assets Ltd listed on the London Stock Exchange's Specialist Fund Market in March. The company's investment objective is to invest in vehicles which acquire, charter and sell marine assets associated with the offshore oil and gas industry. It expects to have eight to ten investments in the North Sea or South East Asia within 18 to 24 months.

Nimrod Sea Assets shares were down 0.2% at 1.03 pence Thursday morning.

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Source: Alliance News

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