Golden Energy finds work for two newbuild platform suppliers

Golden Energy Offshore Services (GEOS) has secured employment for the two newbuild vessels, Energy Empress and Energy Duchess. 

Energy Empress during a naming ceremony in Alesund, Norway – Image by Ulstein

The naming ceremony for the Norway-designed and China-built, sister vessels Energy Empress and Energy Duchess was held on June 29, 2019.

GEOS said on Friday that each vessel was hired for a minimum of 90 days period for an undisclosed client outside the North Sea Spot market.

These contracts start at a time when the North Sea Spot market is expected to be slower due to the upcoming winter season and reconfirm the competitiveness of these modern energy effective vessels, the company said.

The contracts provides a sustainable positive EBITDA margin on charter during their first winter jobs, GEOS added.

The platform supply vessels were designed by Ulstein Design & Solutions based on Ulstein’s PX121 design. According to Ulstein, a total of thirty PX121 vessels have been built so far.

The Energy Empress and Energy Duchess have been built at the Nantong Rainbow Offshore & Engineering Equipments (ROC) yard, China, and according to Ulstein, boast an extra accommodation deck.

As previously informed, the Energy Scout is on a fixed contract till January 20, 2020, and the Energy Swan firm until November 30, 2019. Utilization YTD on GEOS-ME fleet 96% of calendar days and for 4Q 2019 there is committed 335 vessel days.

Offshore Energy Today Staff

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