Siem ƶijϻ has become the 100% owner of Secunda Canada, as the Canadian company took delivery of the Avalon Sea anchor handling tug supply (AHTS) vessel last week.
As part of a recapitalization of Secunda, Siem acquired Birch Hill’s 50% ownership interest in Secunda Canada, and has provided the required capital finance the vessel acquisition and importation costs of and other working capital items.
Avalon Sea will be the most advanced vessel in the Canadian market and will support two large production fields, Hibernia and Hebron, Siem said.
The Avalon Sea was delivered from Remontowa Shipyard to Secunda Canada on 12 May, and will be the 11th AHTS vessel in Siem's fleet. The vessel is specially designed and equipped for Canadian waters and will go on a six-year contract with an international oil company before 1 June 2016.
Image of Siem AHTS vessels, from Siem.
