Deep Sea Supply is increasing its fleet from 30 to 40 vessels through the acquisition of 10 Platform Supply Vessels (PSVs) for US $366 million.

The company is acquiring the units from PSV Holding, owned by Greenwich Holdings, an affiliate of Hemen Holding. The acquisition involves the Sea Tantalus, Sea Titus, Sea Tortuga, Sea Falcon and Sea Flyer, which were built and delivered from India’s Cochin Shipyard and the Sinopacific yard in China, between during 2013 and the first quarter this year.

Apache UK has the Falcon and Flyer vessels on 5-year contracts in the UK North Sea, and Tantalus recently secured a 2-year contract with options with Nexen in the UK, while the Tortuga is on a 13-month contract with Eni offshore East Africa and Titus is currently mobilising to West Africa.

Another five ships are under construction on behalf of PSV Holding. One is a 4,100 dwt STX 05-L CD design under construction at the Indian Cochin shipyard, and four Ulstein PX 105 design units are being built at Sinopacific in China, which are due for delivery in the third and fourth quarter this year.

Offshore