Global Fleet Expansion: Q2 Update

Selective Marine completed the addition of four new vessels to our managed fleet during Q2 2024, bringing our total managed asset count to 34 units across 12 countries. The vessels — all DP2-classed platform supply vessels built to Tier-3 engine emissions standards — are now deployed on long-term contracts in Southeast Asia and West Africa.

Asset Details

SMS Fortitude — 4,200 DWT PSV, deployed offshore Malaysia under a 3-year PETRONAS contract
SMS Endurance — 3,800 DWT PSV, supporting deepwater drilling operations in Angola
SMS Resolve — AHTS, 180 tonne bollard pull, Gulf of Mexico spot market
SMS Pioneer — Multi-purpose offshore vessel, North Sea inspection contracts

Fleet Outlook

Two additional vessels are under Letter of Intent for Q4 2024 delivery, contingent on final contract award confirmation. The fleet expansion is fully funded operationally with no long-term debt drawn for vessel acquisition.