Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

NYK and Mitsubishi acquire stake in SBM Offshore FPSO

NYK and Mitsubishi acquire stake in SBM Offshore FPSO
Nippon Yusen Kabushiki Kaisha (NYK) and Mitsubishi Corp have both bought minority stakes in SBM Offshore's FPSO Turritella.

The partners will contribute $590m in cash payments to the joint venture companies which own and operate the FPSO, with the first $446m payment made today.

NYK has bought a 30% interest, and Mitsubishi has acquired a 15% stake, with SBM Offshore holding the remaining 55%.

Under construction in Singapore, the FPSO is due to be delivered and go on-hire in 2016 with Shell at the Stones project in the Gulf of Mexico. Turritella will be the deepest FPSO development in the world when installed, positioned in 2,900 m of water.

The FPSO will be the fourth JV venture for NYK in Brazilian waters, adding to similar deals with SBM and Mitsubishi for the FPSOs Cidade de Maricá and Cidade de Saquarema.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
TMSRPan21-22 Category Promo 600_600-resize
Read Now

The 21st Edition of Panama Maritime Review

"We will invest in digital transformation, exploring innovative ways in which we can maxinimise the Canal's capacity to provide value guarentee quality of service to our customers."

Ricaurte Vásquez Morales, Panama Canal Administrator

Read Panama Maritime Review 2021/22 to find out more.

TMSRPan21-22 Category Promo 600_600-resize