Standard Drilling Sells PSV Standard Princess

Oslo-listed offshore energy investment firm Standard Drilling announced it has sold the platform supply vessel Standard Princess for $10.3 million.

The Cyprus-headquartered company said Wednesday it completed the transaction after announcing a memorandum of agreement to sell the vessel in November.

The large 93.4-meter-long PSV was built at Norway's Aker Brattvaag in 2008, with 1,060 square meters of deck space.

Following the sale, Standard Drilling will control, in addition to the investment portfolio, directly and indirectly, a fleet of seven PSVs, including two large PSVs 100% owned and five medium-sized PSVs with approximately 28% ownership interest, the company said.