Norwegian shipowner offloads another 2016-built vessel

March 12, 2026, by Melisa Cavcic

Norwegian vessel owner and operator Golden Energy Offshore Services (GEOS) has taken steps to divest one of its platform supply vessels (PSVs).

PSV Energy Passion; Source: Golden Energy Offshore Services

Following its commitment to a near-term sale of a minimum of two vessels in December 2025, subject to market conditions, alongside the sale of the PSV Energy Empress and the PSV Energy Partner in January 2026, Golden Energy Offshore Services’ subsidiary, Energy Passion, received confirmation that all subjects were lifted for a legally binding sales agreement for the 2016-built PSV Energy Passion.

View on Offshore-energy.

The Norwegian player explains that the agreement is based on the industry standard Saleform 2012 form and subject to ordinary conditions for payment upon delivery. The gross sale price for the PSV is agreed at $28 million (approximately NOK 269 million). The completion of the sale is expected in mid-April 2026.

This is anticipated to result in a booked gain of around $5.4 million, generating net proceeds after repayment of the lease, break fees, and transaction costs of about $14 million (approximately NOK 134 million).

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