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Viking Supply Ships receives early termination of $100m AHTS contract

Photo of Holly Birkett Holly BirkettDecember 17, 2015
15 Less than a minute

Sweden-based Viking Supply Ships has received an early contract termination from an unnamed charterer for its anchor handling tug supply (AHTS) vessel  Brage Viking “due to the market conditions”.

The vessel (pictured) will remain on-hire until mid-August 2016, resulting in the loss of $33m for the remaining firm period of the contract in 2016 and 2017, the Oslo-listed company said today.

The AHTS, which has ice class 1A notation, commenced the contract on April 1 this year for a firm period of two years and eight months.

The contract was originally valued at some $100m and included the option to extend the contract period by a further 18 months.

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Photo of Holly Birkett Holly BirkettDecember 17, 2015
15 Less than a minute
Photo of Holly Birkett

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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