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Eidesvik Scores Work for Two Vessels

Photo: Eidesvik Offshore ASA

By Aiswarya Lakshmi

Norwegian shipping company Eidesvik Offshore ASA has signed a letter of intent (LoI) with Seabed Geosolution for the use of two vessels.

Contract commencement are ultimo January to primo February and the duration is expected to last for the remaining part of 2018.
The LoI is for the use of the multi-purpose support vessel Subsea Viking and for the use of the seismic vessel Vantage.
Recently, Eidesvik Invest AS, together with some of the largest shareholders in Eidesvik Offshore, have undertaken to subscribe new equity in a private placement of NOK 120 million at a price of NOK 5 per share.
In addition, Eidesvik Invest AS has confirmed its willingness to convert shareholder loans of NOK 30 million to 2 million shares at a price of NOK 15 per share. In addition, a repair issue will be completed during March 2018 where shareholders who are not given the opportunity to participate in the private placement will be allowed to subscribe for shares.
With these agreements, the Eidesvik Offshore ASA Group is secured a safe financial position in the next few years, although the market may continue to be difficult for a period.

Jan 8, 2018



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