Standard Supply scores bumper rate on new PSV charter

Norway’s Standard Supply, majority owned by Øystein Stray Spetalen’s investment vehicle SD Standard ETC, has landed a new charter deal with an undisclosed European energy company for platform supply vessel Standard Supplier.

The 2007-built vessel has been fixed for between seven and ten weeks at about $30,550 per day for a contract commencing in mid-August. According to VesselsValue data, the vessel’s most recent trade in the spot market was reported booked by Norway’s Equinor at a dayrate of $18,000.

Standard Supply has a fleet of nine platform suppliers, of which five are part of the Northern Supply fleet, where the company owns 51%. Fletcher Shipping is acting as commercial and technical manager for the vessels.

The company recently bought two PSVs, the Standard Defender for $20.7m and the 2012-built Highland Duke for around $5m after raising around $16m through a private placement and arranging a $20m revolving credit facility to finance further growth within the offshore support vessel segment. Standard Supply is expected to list on Euronext Growth on or about July 22, 2022.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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