SYDNEY, AUSTRALIA: MMA Offshore Limited has accomplished the sale of a additional two vessels, the Mermaid Vigilance and the MMA Chieftain for total proceeds of $5.5 million.
The sale values for these vessels were in line with the “assets held for sale” worth on the Company’s balance sheet. The proceeds of roughly A$7.3 million will be used to pay down debt, additional reducing the Company’s leverage.
This brings the worth of total vessel gross sales accomplished throughout the present monetary year to A$17.6 million, against “assets held for sale” on the start of the monetary year of A$30.7m.
Commenting on the vessel sales, MMA’s Managing Director, Mr David Ross, said: “We are happy to make additional progress on our non-core vessel gross sales program and the ongoing deleveraging of our balance sheet. We are assured of closing out the bulk of the rest of the non-core vessel gross sales program within the approaching months.”
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