Interesting OSV S&P activity includes ‘almost new’ PSV

Among the latest purchases are an ‘almost new’ PSV in China and two partially built hulls in Brazil.

In the case of Brazil’s Posidonia Shipping, it acquired two partially built, 4,500-dwt PSVs from Brazilian shipyard Estaleiro São Miguel, according to a leading shipbroker.

Seabrokers said the two PSVs are about 60% complete and were originally intended for Brazil Supply. Posidonia Shipping will invest a reported US$70M to complete the ships, which will be delivered by the Rio de Janeiro shipyard in about 15 months.

Estaleiro São Miguel is part of the Bravante Group, which includes Bravante Offshore, an operator of UT 755 SE design PSVs, anchor handling tug supply vessels and oil spill response vessels.

Seabrokers also reported sales of two Chinese-built PSVs to different owners. Maridive Offshore Projects (MOP) acquired MD Zen 801 for an undisclosed price for operation in the Middle East. Ship valuation provider VesselsValue estimated the market value of the PSV at US$15.4M as of 7 July.

According to AIS reporting service Marine Traffic, the PSV was due to arrive in Abu Dhabi 8 July.

MOP’s acquisition of MD Zen 801 was a long, strange trip – one 10 years in the making. Originally named Dong Nan 12, the PSV was built to ABS class at the Fujian Southeast Shipyard. Steel was cut for the vessel at the Chinese shipyard 10 years ago – on 19 July 2013, and delivery was over eight years later, 12 October 2021, according to the ABS Record. Flying the Belize flag, and built to a Khiam Chuan Marine design, the 3,600-dwt PSV has an overall length of 78 m, beam of 18 m, draft of 6 m and deck area of 750 m².

MD Zen 801 is probably best described as almost new. Seabroker reported the vessel entered service back in Q4 2021 “although it is thought to have lain idle ever since.”

Meanwhile, the second PSV started life as Bourbon Explorer 520 as part of a series of newbuilds ordered by Bourbon Offshore. Built by Zhejiang Tianjin Shipbuilding, Feng Shou Chun Xiao was delivered to Jiangnan Tianjin Shipping in June 2023. The 3,600-dwt DP2 PSV was built to Sinopacific’s SPP35 design, giving it a length of 78 m, beam of 17 m and a deck area of 760 m².

VesselsValue estimated the market value of the diesel-electric PSV at US$18.5M on 7 July.