The Hong Kong shipping company will book a $3.5m gain on the sale.
OMSA’s main business was the provision of tug and barge contracts for the Gorgon LNG project which is nearing completion of the construction phase and the tugs and barges are being redelivered.
The sale is part of an ongoing move by Pacific Basin to focus on its core dry bulk shipping business. “The company’s primary reason for entering into the disposal is consistent with its stated strategy to further focus its activities on its dry bulk business,” Pacific Basin said.
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