June 23rd, 2017 Sam Chambers Americas, Offshore 0 comments

US offshore vesseloperator Seacor Marine has announced a stalking horse bid to form a joint venture with compatriot owner Montco Offshore.

The term sheet contemplates that Seacor Marine and Montco Offshore will jointly form and capitalise a new joint venture company, with Seacor Marine as the majority owner.

Montco is looking toconsolidate thirteen liftboat vessels currently operated by a subsidiary of Seacor Marine, six liftboat vessels currently operated by Montcoand two liftboat vessels currently operated by an existing joint venture between the two.

The venture would assume approximately $130m of indebtedness from Monto Offshores credit facilities.

Seacor Holdings spun off Seacor Marine this month. The OSV operator has been hoovering up much tonnage in the past couple of years as other OSV players have fallen by the wayside.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the worlds oldest newspaper, Lloyds List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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Seacor Marine reveals stalking horse bid to form JV with Montco Offshore - Splash 247