Akastor’s Subsidiary DDW Offshore Sells Skandi Peregrino AHTS Vessel for $25 Million

Akastor, a leading provider of oilfield products, services, and solutions, has announced that its fully-owned subsidiary DDW Offshore has entered into a binding agreement to sell the Skandi Peregrino anchor handling tug supply (AHTS) vessel.

The sale of the Skandi Peregrino AHTS vessel was finalized for a purchase price of $25 million to an undisclosed buyer. The agreement was made on Saleform 2012 terms, with necessary amendments, and completion is subject to the charterer’s consent.

The transaction is expected to be completed in the second quarter of 2025, with approximately $10 million of the purchase price allocated towards repaying a portion of DDW Offshore’s debt. Following the sale, DDW Offshore’s remaining debt is estimated to be around $19 million.

Upon the completion of the sale, Akastor plans to distribute a significant portion of the net proceeds, approximately $15 million, to its shareholders in the form of a cash dividend.

About Skandi Peregrino AHTS Vessel

The Skandi Peregrino is a high-powered AHTS vessel designed by STX AH08, known for its versatility in operating across various water depths and environmental conditions. With its robust design and capabilities, the vessel has been a valuable asset in offshore operations.

Overall, the sale of the Skandi Peregrino AHTS vessel represents a strategic business decision by Akastor and DDW Offshore to optimize their asset portfolio and strengthen their financial position. The transaction is aligned with their commitment to delivering value to shareholders and maintaining a competitive edge in the industry.

As Akastor continues to focus on its core business areas and explore new opportunities for growth, the sale of the Skandi Peregrino AHTS vessel marks a significant milestone in their ongoing efforts to enhance operational efficiency and drive sustainable value creation.