DOF sells five vessels in Brazil (Gallery)
- Business & Finance
DOF’s subsidiary Norskan Offshore in Rio de Janeiro, Brazil, has entered into an agreement for sale of five ships, one AHTS and four PSVs, operating in Brazil.
The ships included in the agreement are AHTS Skandi Copacabana, UT 722 L, built 2005, PSV Skandi Leblon, UT 755 L, built 2004, PSV Skandi Flamengo, UT 755 L, built 2003, PSV Skandi Yare, UT 755, built 2001 and PSV Skandi Stolmen, UT 755, built 1997.
The buyers are companies owned by a Brazilian Private Equity Fund managed by Mantiq Investimentos and Mare Investimentos, based in Sao Paulo and Rio de Janeiro, Brazil. According to DOF, Norskan Offshore will for now and latest until the current charter contracts are terminated, be responsible for the operation of the ships.
Two of the vessels, Skandi Leblon and Skandi Flamengo have firm contracts up for renewal in 2015. DOF has still a market risk related to renewal of these two charter contracts.
The sale will release approx. NOK 500 million ($66.12 million) of free liquidity to the ship-owning companies on redemption of loans. Delivery of the ships is planned to take place in the period ultimo February to April.
CEO Mons S. Aase states: “We are very pleased to have entered into this agreement, and shall be looking forward to cooperating with the new owners. The sale is adapted to DOF’s long term strategy to prioritize ownership and operations of more advanced ships in Brazilian waters.”