Siem Offshore is buying out its partner OH Meling's stake in a joint venture company.
Meling will sell the 49% holding in Siem Meling Offshore DA (SMODA), giving the Kristian Siem company 100% control.
As part of the deal, the 4,800-dwt supply ship Siddis Mariner (built 2011) has been sold by SMODA to a Meling company.
SMODA will continue to own the 4,800-dwt Siem Pilot (built 2010), which will start a four-year firm contract off Canada during July.
