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Hermitage Offshore Services sells AHTS pair at a loss

Hermitage Offshore Services has sold two AHTS vessels under a deal that will result in a loss of approximately $4m to the company.

The New York-listed offshore operator said “the transaction consisted of the unconditional release of the seller of all of its obligations under the $9m term loan facility between the owners, as borrowers and DVB Bank as lenders, facility agent and security agent in exchange for the transfer of all the shares of the owners to the buyer.”

Upon conclusion of the sale, there will be no outstanding liability for Hermitage Offshore Services or its subsidiaries under the $9m term loan facility with DVB Bank.

“The company expects to record a loss of approximately $4m as a result of the transaction,” Hermitage Offshore Services stated.

The company’s fleet will consist of 10 PSVs and 11 crew boats after the sale of the two AHTS vessels.

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