Another DOF vessel finds new owner

DOF Rederi, a fully owned subsidiary of Norway’s vessel owner DOF Group, has sold one of its platform supply vessels (PSVs) to an undisclosed company.

PSV Skandi Gamma; Source: DOF Group

While the new owner of the PSV Skandi Gamma remains unknown, the vessel is set to change hands this month. However, DOF has confirmed that it will stay on as the vessel’s technical and commercial manager. The 2011-built PSV Skandi Gamma, which is of an STX PSV 06 LNG design, can accommodate 25 people.

Mons S. Aase, CEO DOF Group, commented: “The sale of another PSV is in line with our long-term strategy to focus on the integrated subsea services and the short to medium term focus on optimising the combination of earnings and vessel values from our PSV fleet. With this sale the leverage of DOF Rederi AS is further reduced to approximately 1.5x NIBD/EBITDA using 2023 earnings.”

The Norwegian player recently won two contracts in Africa, one for a construction transport and installation project in West Africa, and another for installing a floating production storage and offloading (FPSO) vessel and a floating storage unit (FSO) at Eni’s oil and gas development offshore Côte d’Ivoire. 

Two of the firm’s vessels also secured a new contract and an extension in the Asia Pacific region while long-term deals were inked for two additional vessels for work in Norwegian and Australian waters.

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