With the global OSV market tight and vessel valuations on the rise, DOF Rederi was able to bank a tidy profit on the sale of two of three platform supply vessels it had acquired just three days earlier
On 29 September, the Norwegian owner had agreed to acquire Skandi Barra, Skandi Caledonia and Skandi Captain from the lenders for a total price of Nkr270.0M (US$24.7M).
On 2 October, DOF Rederi then sold 2005-built Skandi Barra and 2003-built Skandi Caledonia to a company controlled by Atlantica Shipping for Nkr275.0M (US$25.1M).
All three PSVs are under charter in the North Sea. Skandi Barra will be delivered to the new owners in October 2023 and Skandi Caledonia in November 2023. DOF will continue as technical and commercial manager for the vessels. 2004-built Skandi Captain is on charter in the North Sea until 8 November.
Skandi Caledonia has been awarded a contract in Argentina with estimated start up in Q1 2024 with a major global oil company. The contract has a duration of 150 days plus 60 days options and the estimated EBITDA contribution is above US$25,000/day excluding mobilisation and demobilsation.
DOF said the PSVs are part of its older non-core fleet; it plans to focus on subsea services and floating offshore wind.
The sale of the two PSVs are subject to certain conditions, including approval by the charterers.
DOF Group chief executive Mons S Aase said, “The sale of the two older PSVs are in line with our long-term strategy to focus on the integrated subsea services and the short to medium focus on optimising the combination of earnings and vessel values from our PSV fleet”.
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