New wellboat operator launches
Pelican Aqua Holding has signed contracts for the construction of four wellboats that will each have a well capacity of 5,000 cubic metres. The vessels are scheduled to be delivered in 2029.
The company also states that it has options for an additional six vessels of the same type.
The newly established company completed a private placement of US $60 million (£44.8m / NOK 556m) on May 13 to finance the first part of the new-build contracts. Investors include Condire, Odfjell Partners Holding, Aconcagua Management Ltd., JJ Ugland Group, Blystad and Magni Partners.
Pelican Aqua has also started a process for listing on Euronext Growth Oslo, with the goal of the first day of trading by the end of June.
Built in China
The vessels are designed by Salt Ship Design and will be built at CIMC Raffles in China. CIMC Raffles is an internationally recognised shipyard with extensive experience in advanced vessel construction, and is the company that built the ship-shaped Havfarm for Norwegian salmon farmer Nordlaks.
Norway's MMC First Process will supply systems for handling fish on board the wellboats.
According to Pelican, the vessels will be able to be adapted to various treatment systems and battery solutions for both Norwegian and international markets.
Chairman Gunnar Winther Eliassen says in a comment that the company will continue to work on building the organisation and the commercial platform.
Arctic Securities and DNB Carnegie have acted as lead managers for the issue and advisors in connection with the planned IPO (initial public offering). Arctic Offshore has acted as vessel advisor, while Schjødt has acted as legal advisor.
