An agreement has today been signed by and between Wilhelmsen Offshore & Chartering AS, (WOC), and Svitzer Far East Pte. Ltd. (SFE) as sellers and Macquarie Bank Limited (Macquarie), as buyer for the sale and purchase of the shares in Express Offshore Transport Pte. Ltd. (EOT).
EOT is a company based in Singapore and is jointly owned by WOC and SFE with 50% each. WOC is a wholly owned subsidiary of Wilh. Wilhelmsen ASA of Norway. SFE is a wholly owned subsidiary of SVITZER A/S, a company in the AP Moller-Maersk Group.
EOT was established in February 2006 and deploys a fleet of approximately 50 crewing supply vessels. The company offers transportation of personnel and supplies to the oil industry in The Middle East and South East Asia.
- Wilhelmsen and SVITZER are pleased to have made this agreement with Macquarie who will be an excellent owner to further grow EOT, building on the high quality services that the company delivers. By merging our respective operations in 2006, we created the leading company in this offshore sector. EOT delivers first class services to the oil exploration and production companies in South East Asia and Middle East, say Thomas Wilhelmsen, vice president Shipping, Wilh. Wilhelmsen ASA and Jesper T. Lok, CEO of SVITZER A/S.