Crescent Marine Exercises Option to Purchase Liftboat from Atlantic Navigation

MT Newswires

2024/11/11

Atlantic Navigation Holdings (Singapore) (SGX:5UL) unit Atlantic Navigation Ltd. has signed an agreement to sell liftboat, Delta 22, to Crescent Marine Holding (CMH) for around $3.3 million,

The agreement came after Crescent Marine exercise an option granted to it to purchase the vessel, according to a filing with the Singapore Exchange on Friday.

According to a filing from March 4, 2022, the company had entered into a purchase option agreement to grant the option to purchase the boat through CMH's nominated company, Delta Marine Holding.

The company is expected to receive a 10% deposit of the purchase price by Nov. 13 while the remaining 90% will be paid upon delivery by Nov. 26.

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