Brokers representing Singapore-based Pacific Richfield Marine say the company is seeking expressions of interest for the sale or bareboat charter of individual vessels, vessel classes or the whole of its fleet, and have described the sale as a “restructuring.” The broker also said it is not certain that any or all of the vessels will be sold at this stage.
Pareto Securities, which is marketing individual vessels, classes of vessel – or the company’s entire fleet should any buyer be interested – has circulated a presentation about Pacific Richfield Marine’s assets and is running a structured process with a firm deadline for bids of 15 December 2015. It says Pacific Richfield Marine will evaluate the various bids by 5 January 2016 latest.
Pareto describes the vessels as a fleet of modern ships of which 26 are anchor handling tug supply (AHTS) vessels built in the period 2004-2013. It says they are ‘Asian specification’ vessels but built to Norwegian standards. In addition, 14 older AHTS vessels (built 1970-1980s) are also for sale.