DOF hires Vard’s PSV for deal with Chevron

  • Business & Finance

DOF ASA has won a contract with Chevron in Australia, for which it hired a Platform Supply Vessels (PSV) from Vard Holding’s new subsidiary.

DOF has signed a bareboat charter contract for the vessel Skandi Responder with Vard for an initial duration of four months, with an option to extend by another four months, according to which it would operate the vessel for Chevron.

In its filling to Oslo stock exchange, DOF said that the contract would start in October 2015. DOF says that Vard’s vessel was hired in to operate on this contract based on the fact that DOF currently has no PSVs available.

According to Vard, this is the first of two vessels whose original shipbuilding contracts were terminated earlier during the year. The second PSV whose contract was terminated in March 2015 is still under construction at Vard Vung Tau, with an expected completion date in 2Q 2016.

The Skandi Responder is a PSV of Vard 1 08 design, it was delivered from Vard Vung Tau in Vietnam and sold to Vard Shipholding Singapore Pte. Ltd., a newly established wholly-owned subsidiary of Vard Holdings Limited.

Vard CEO and Executive Director Roy Reite said: “I am delighted that together with our long-term client DOF, we have found a solution that secures employment for this vessel following completion at the yard in Vung Tau. Securing this charter in today’s difficult market is proof of the attractiveness of Vard-built vessels for some of the most demanding jobs in the offshore industry, and I am confident that successfully operating it in Australia will increase our chances for a sale.”

Offshore Energy Today Staff

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