Swiber Holdings has disposed of a vessel that was acquired at a bargain price a year ago but was laid up in the summer.
The struggling offshore vessel owner has sold the derrick-lay barge Sea Horizon (built 1977) to WAG SPV I.
Net proceeds of $10.25m from the sale will be used to pay back Swiber’s outstanding debt to DBS Bank.
Swiber paid $10m for the ship in December last year, when its value was estimated at $15m.
But
