BW Offshore has sold an elderly floating production storage and offloading (FPSO) vessel for $12.8m.
The Oslo-listed company said the Japanese-built, 138,000-dwt BW Cidade de Sao Vicente (built 1976) will be scrapped in compliance with the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships.
Brokers said the vessel had gone for $490 per ldt, well below current scrap levels of more than $650.
