Scotland's Fletcher Shipping has picked up a platform supply vessel (PSV) at a distressed price for work outside the oil and gas industry.
The company confirmed it purchased the 4,900-dwt UP Jasper (built 2011) for $1.5m, well below a VesselsValue assessment of $7.2m for further trading and $1.06m for demolition.
"It's got to be one of the best definitions of a ‘distressed’ sale," managing director Keith Fletcher told TradeWinds.
