ADS Maritime Holding Plc acquires stake in Dive Support Vessel

29 Mar 2023 07:00 CEST

ADS Maritime Holding Plc (“the Company”) has acquired a 10% stake in a Dive
Support Vessel and will act as Commercial Manager with primary responsibility
for following up the shipowning company's activities related to the vessel and
the bareboat contract.

The vessel “Southern Star” is a high spec DP3 Dive Support Vessel (“DSV”) built
in 2017, well suited for light subsea construction work (150t subsea crane) and
advanced dive support work with accommodation for approximately 120 pax. The
vessel was delivered 28 March 2023 and will be employed on a 5-year bareboat
contract, with a further sub-charter bareboat contract to a major provider of
fully integrated subsea services.

The acquisition is part of the Company’s strategy of opportunistic growth within
shipping and offshore, where the Company during 2022 and 2023 has taken
positions within the Shuttle, VLCC, MR and subsea segments.

Contact:
Anders Hall Jomaas, CFO +47 400 42 918 anders.jomaas@adsmh.com

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