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Swiber acquires a barge

By  AOG Staff Tuesday, 22 December 2015 23:00
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Swiber Holdings’ subsidiary, Swiber Atlantis has entered into an agreement to purchase a construction barge for US$10 million. 

Named Sea Horizon, the 110m derrick lay combination barge has been acquired as part of the group’s strategy to support its ongoing projects, Swiber said.

Based on a valuation report commissioned by the seller the market value of the barge in Singapore on a willing-buyer willing-seller basis is $15 million. The consideration was arrived based on these negotiations with regard to the current market conditions and is on normal commercial terms. 

The amount will be paid in cash to the seller within three banking days after the barge is physically ready for delivery.

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