Noble Group completes the sale of the Panacore vessels
NOBLE GROUP LIMITED confirms that it has now completed the sale of the Panacore vessels (namely, “Ocean Ambition”, “Ocean Forte”, “Ocean Integrity” and “Ocean Vision”) for an aggregate consideration of approximately US $95 million, allowing the Group to retire in aggregate approximately US$63 million of debt and receiving in aggregate net proceeds of approximately US$32 million. The aggregate book value of the Panacore vessels is approximately US $94 million and the aggregate gain on disposal is approximately US $1.4 million, the company said in its press release.
About Noble Group
Noble Group manages a portfolio of global supply chains covering a range of industrial and energy products. The Company facilitates the marketing, processing, financing and transportation of essential raw materials. Sourcing bulk commodities from low cost regions such as South America, South Africa, Australia and Indonesia, the Company and broader Group supplies high growth demand markets, particularly in Asia and the Middle East.