Toisa Sells Off A Total Of USD 220 Million Of Vessels – VesselsValue
The en bloc transaction of three AHTSs and three PSVs to China Sunrise Group for USD 19.3 million marks the end of a 12-month sell-off of Toisa offshore assets. 21 assets were sold during the 12 month period, totalling almost USD 220 million in one of the largest court auctions of any offshore owner in recent history.
VesselsValue prices the market value of the assets today at USD 276 million, however, it is important to note that many vessels were sold in layup condition out of class and in need of reactivation, as well as other conditions that can be seen in the table above. VesselsValue is the only company to provide automated valuations for both OSVs and OCVs.
Robert Day, Head of offshore at VesselsValue notes that only two further assets remain available from Toisa’s previous portfolio, however, these are now in the hands of the shipyard to sell. They were ordered in April 2015 for USD 52 million and have offers on the table ranging from USD 42-44 million (VV 44.4).