Sical arm buys Norwegian PSV for $31.3mn

Bergen Offshore Logistics, a Singapore-based subsidiary of Sical Logistics, has acquired a latest-generation specialty 470 MKII class platform supply vessel (PSV) for $31.3 million.

According to a release issued by Sical to the BSE today, the acquisition of Siem Mollie, acquired from Siem Mollie SA, Norway, is the first acquisition of a new build offshore PSV by an Indian company. Post-acquisition, the PSV has been renamed Sical Torino.

"A PSV provides offshore logistics such as supplies and cargo transport for deep-water offshore drilling. Sical Torino will be deployed in the North Sea where such vessels are in large demand owing to the surge of deep-water drilling in recent years,' the release said.

Ashwin Muthiah, vice chairman of Bergen Offshore, said: "The surge in demand for oil and gas has led to a sharp increase in deep-water drilling, and, consequently, there is an increase in demand globally for specialised, high-capability platform vessels for deep-water offshore logistics."