DOF Subsea Group sells the vessel Geobay to Middle East buyer
DOF Subsea Group has entered into an agreement where the 1978 built vessel Geobay is sold to a Middle East buyer, the company reports. The selling price is slightly above book value of the vessel. The sale is expected to be completed after the ongoing project utilizing the vessel is finalized in May 2013.
The DOF Subsea Group is a specialist subsea service business that provides subsea construction, subsea engineering, inspection, repair and maintenance and survey services, which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction, intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships, which enhance service delivery and reduce the overall risk. The company’s core business is project management, engineering, vessel operations, survey, remote intervention and diving operations, primarily for the Oil and Gas, Marine Telecommunications and Renewables markets.
