Miclyn Express Offshore has offloaded six crew/utility boats over the age of 25 to a Mexican company and ordered three newbuldings.
These newbuildings are due delivery in late 2013 and already signed five-year contract with Chevron. 
Meanwhile, the Singapore-based shipowner announced that it has upsized its term loan facility by $45m at an interest rate of Libor plus 2.75%.
Most of the funds will be used to reduce the size of an existing revolving credit facility, which frees up funds for the future newbuilding expansion.
CEO Diederik de Boer said the company is eyeing a number of investment opportunities.