The huge price tag on a platform supply vessel (PSV) can be explained by its upcoming conversion into a cable-layer.
An offshore shipping source told TradeWinds that Oslo-listed owner SD Standard Drilling's 5,150-dwt Standard Princess (built 2008) is another example of an oil and gas support ship leaving the sector.
The cable-layer market is said to be "very hot right now", as ships are in demand for offshore wind farm work, among other things.
