ALP acquires six long distance AHTs in $220 million deal

ALP will rebrand and rename the six vessels ALP will rebrand and rename the six vessels

NOVEMBER 7, 2014 — Teekay Offshore's wholly-owned subsidiary ALP Maritime Services B.V. (ALP) has agreed to acquire six modern on-the-water long-distance towing and anchor handling vessels for approximately $220 million. The vessels to be acquired were built between 2006 and 2010 and are all equipped with dynamic positioning (DP) capabilities.

Though Teekay Offshore doesn't say who the seller is, the ships account for six of the eight vessels listed in its fleet by Germany's Harms Bergung and Heavy Lift.

ALP says the purchase is subject only to a satisfactory inspection of the vessels.

The vessels are operating in the 200 and 300 Tonnes Bollard Pull towing vessel segment and will add a combined 1,450 Tonnes of Bollard Pull to the ALP fleet, enhancing ALP's competitive position in the high-end long distance towing, positioning and hook-up market.

The vessels to be acquired are:
AHT Orcus: 306 Tonnes Bollard Pull – built 2010 – DP II
AHT Uranus: 301 Tonnes Bollard Pull – built 2009 – DP II
AHT Ursus: 218 Tonnes Bollard Pull – built 2008 – DP II
AHT Janus: 219 Tonnes Bollard Pull – built 2007 – DP II
AHT Taurus: 207 Tonnes Bollard Pull – built 2007 – DP II
AHT Magnus: 192 Tonnes Bollard Pull – built 2006 – DP II

It has been mutually agreed with the sellers that ALP will take over the vessels during the period from December 1, 2014 to March 31, 2015 at ALP's discretion.

ALP says the six vessels to be acquired are presently the most powerful and advanced long distance towing vessels in the market and will only be surpassed by the X-bowed ALP Future vessels it currently has under construction at Japan's Niigata Shipbuilding & Repair for delivery in  2016.

ALP previously marketed the vessels during 2011 - 2012. During this period ALP successfully introduced the vessels to its clients in the international towage market and as a result the ALP team is familiar with the vessels' design and capacity. ALP says the units offer anchor-handling, positioning and increased fuel capacity and are equipped with DP II. These are similar features to those of the ALP Future vessels offer and are in high demand by clients active in the floating production/storage, drilling and subsea market.

ALP will rename the vessels as follows:
AHT Orcus – ALP Centre
AHT Uranus – ALP Guard
AHT Ursus – ALP Forward
AHT Janus – ALP Winger
AHT Magnus – ALP Ace
AHT Taurus – ALP Ippon

Want more? Subscribe now!

News from NASDAQ