BW Offshore has signed an agreement to recycle the FPSO BW Cidade de São Vicente in compliance with the Hong Kong International Convention at Priya Blue Industries in India.
The vessel was sold for a cash consideration of USD 12.8 million.
The Yard is certified to ISO standards and has been issued with a Statement of Compliance by Class NK in accordance with the IMO Resolution MEPC.210(63) and the Hong Kong International Convention for the safe and environmentally sound recycling of ships.
BW Offshore has nominated a third party to be on site at the recycling yard to ensure Health, Safety and Environmental regulations are followed. A Ship Recycling Plan has been prepared and provided by the Yard in cooperation with the Gujarat Maritime Board in compliance with the above regulations. To further incentivise safe operations, the Company will pay a “safe recycling” bonus upon completion.
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