Norwegian offshore operator DOF says it has signed a management agreement to bring in two vessels, previously owned by Olympic Shipping, from a third-party company in Norway who has acquired the vessels.
The two vessels are subsea vessel Olympic Commander and AHTS/OCV Olympic Hera. DOF will manage and operate the vessels and also has the option to purchase them at a price corresponding to the outstanding debt or around 50-60% of historical build costs.
Olympic Commander is being renamed Skandi Darwin, and will be used for inspection, maintenance and repair at the Shell Prelude project. Olympic Hera is to be renamed Skandi Hera.
Mons S. Aase, CEO of DOF, commented: “The agreement reflects the challenging market conditions, but we see it as a vote of confidence in our global organization to be asked to manage and operate these vessels.
“Skandi Hera is a strategically important addition to our fleet. She can serve both as an AHTS vessel and a subsea vessel, and since most of our similar vessels are on long term contracts in Brazil, she will give us good exposure to the same markets in other regions.”