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SEACOR Marine Sells Windcat Workboats to CMB
Maritime Activity Reports, Inc.
A Windcat Workboats vessel - Credit: Windcat Workboats
New York-listed offshore vessel operator SEACOR Marine has agreed to sell its Windcat Workboats and its crew transfer vessel (“CTV”) business to the Belgian shipping and logistics group Compagnie Maritime Belge (CMB).
Windcat Workboats owns and operates a fleet of 46 offshore crew transfer vessels, mainly in the European offshore wind sector, but also in the oil and gas industry and outside Europe.
At the closing of the transaction, CMB will pay SEACOR Marine £32.8 million in cash, and assume all of the approximately £20.4 million of debt outstanding under Windcat’s existing revolving credit facility. In USD, the figures are equivalent to approximately US$44.6 million and US$27.8 million, respectively, based on the USD to GBP closing exchange rate on December 17, 2020.