Note 27 - Subsequent Events
- Concluded the sale of the 1999-built PSV “Siem Supplier”.
- Cancelled a shipbuilding contract for the 4th dual fuel PSV due to extended delay in delivery. The Company has been repaid all pre-delivery installments made under the contract covered by refund guarantees.
- Secunda Canada LP, a wholly owned subsidiary of Siem Offshore Inc., announced that a major Canadian customer has extended a 4-year firm contract and 5 yearly options utilizing a vessel from the Siem fleet.
- The Siem vessel will be upgraded according to Canadian and client requirements and then will be dutifully engaged in ice management, tanker assist, re-supply and stand-by rescue operations. The vessel’s area of operation will be offshore Newfoundland and will be supported by Secunda’s St. John’s office.
- On March 29 2017, the Bond Holders meeting approved the proposals as set out in the summons.