Norwegian shipowner bids farewell to two vessels

January 27, 2026, by Melisa Cavcic

Norwegian vessel owner and operator Golden Energy Offshore Services (GEOS) has struck deals to divest two platform supply vessels (PSVs) from its fleet.

PSV Energy Empress; Source: Golden Energy Offshore Services (GEOS)

Following its commitment to a near-term sale of a minimum of two vessels, the firm revealed that its subsidiary, Energy Empress, signed a binding sales agreement for the MPSV Energy Empress, based on the industry standard Saleform 2012 form and subject to ordinary conditions for payment upon delivery.

The gross sales price for MPSV Energy Empress is agreed at $30 million (about NOK 300 million). The sale is expected to be completed in February 2026. Upon completion, the transaction will result in a booked gain of approximately $14.4 million, generating net proceeds after repayment of the lease, break fees, and transaction costs of around $14 million (NOK 140 million).

In addition, the company’s other subsidiary, Energy Partner, also inked a binding sales agreement for the PSV Energy Partner. The gross sale price for the ship is agreed at $27.25 million (approximately NOK 265 million), and this sale is expected to be completed in February 2026.

Following completion, the sale will result in a booked gain of around $6.5 million and is anticipated to generate net proceeds after repayment of the lease, break fees, and transaction costs of aproximately $12.5 million (about NOK 122 million).

Golden Energy Offshore Services underlined: “These agreements reconfirm the value of the company’s modern quality fleet which after the completion of the sale consists of MPSV Energy Duchess (sister vessel to MPSV Energy Empress), PSV Energy Paradise, PSV Energy Passion and PSV Energy Pace (sister vessels to PSV Energy Partner) and the 2005 built PSV Energy Swan.”

These vessel sales, with a gross purchase price of approximately NOK 560 million ($57.4 million), will generate net proceeds in excess of NOK 260 million ($26.68 million), enabling a solid cash position for the company.

The Norwegian player won contracts for two PSVs of PX121 design a few months ago.