Singapore-headquartered EOC Limited has arranged a US $200 million sale and leaseback deal for its pipelay and heavy construction ship Lewek Champion. As part of a move to reduce debt and strengthen its balance sheet, Oslo-listed EOC said it has agreed the leaseback deal for a period of 10 years, with an option to repurchase the vessel from the end of the fifth year. Lewek Champion is currently on a 10-year bareboat charter with Asian subsea services group EMAS AMC, a subsidiary of Ezra Holdings.

Offshore