SYDNEY, AUSTRALIA: MMA Offshore Limited has accomplished the sale of the vessel MMA Leveque to a subsidiary of Fortescue Future Industries (FFI) for $7.75 million.
FFI plans to transform the vessel to twin fuel with the target of working almost completely on inexperienced ammonia. The vessel will join FFI’s prototype trucks, locomotives, drill rig and different mobile equipment that are currently being trialled to function on inexperienced fuels.
MMA Offshore will utilise the proceeds from the sale of the vessel (A$10.46m) to proceed de-levering its balance sheet.
Commenting on the transaction, MMA Offshore’s Managing Director, Mr David Ross, said: “We are excited to proceed working with FFI, with the MMA Leveque now becoming a member of Fortescue Future Industries, the place the goal is to transform the vessel to run almost completely on inexperienced ammonia.”
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