NIBC closed a transaction for Ultrapetrol

Corporate News -

On 20 December 2013, NIBC Oil & Gas Services closed a USD 38.4 million club deal to finance two platform support vessels (PSVs). PSVs perform an essential function in the oil & gas services industry by transporting goods (drilling mud, cement, diesel fuel, etc.) and personnel to and from offshore structures.

The new, Chinese-built vessels, fall within the largest category of PSVs. What makes the vessels unique, is the fact that they are of modern diesel electric configuration and they can be converted for ROV (Remote Operated Vehicles) or DSV (Diving Support Vessel) operation if required. A large accommodation capacity of 52 people provides this flexibility. The two vessels will be employed in the North Sea initially after which they are most likely to go on long term charter contracts.

Ultrapetrol has been active in the offshore support sector for over 10 years and has been a client of NIBC since October 2012. With a growing fleet of platform supply vessels (currently 14 in operation), Ultrapetrol is to become one of the larger offshore supply players in South America.

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