Financial Ports

$35m fire sale: Why Malaysia’s DNeX is ditching its idle 300,000-barrel

CLAVE 1 / 4DNeX sells idle FPSO Excalibur to MISC for $35m in cash, a 66% discount to its $13.25m net book value.

CLAVE 2 / 4The 2007-built vessel has a 300,000-barrel design capacity but has been laid up at Scotland’s Port of Nigg since 2020.

CLAVE 3 / 4Transaction expected to yield a $5.86m pro forma gain after tax and recovery of previously claimed allowances.

CLAVE 4 / 4Delivery scheduled for November 5, 2026 at Malaysia Marine and Heavy Engineering’s Pasir Gudang quayside.

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