Seatrium sells two “non-core” GNL PSVs for $59.7M

Written by Nick Blenkey

Singapore’s Seatrium Limited reports that it has entered into a binding agreement to sell a 100% equity interest in its indirect wholly-owned subsidiary, Guanabara Navegação Ltda (GNL). with Brazilian vessel operator, Posidonia Shipping and Trading Ltda, an unrelated third party,

GNL is a special purpose vehicle that owns two units of platform supply vessels. The total consideration for the sale of GNL is US$59.7 million (approximately SGD 77.4 million.

Seatrium says the GNL divestment is in line with its strategic intent to divest non-core assets to enhance capital and operational efficiencies, and create long-term value for its shareholders.

No operational impact is expected to arise from the sale and the transaction is expected to complete before the financial year ends.