Nordic American Offshore wins first-ever charter outside North Sea

Offshore vessel operator Nordic American Offshore (NAO) has won a contract for one of its platform supply vessels (PSVs).

One of NAO's vessels; Photo by: Alan Jamieson; Source: Flickr
One of NAO’s vessels; Photo by Alan Jamieson; Source: Flickr

NAO said on Tuesday that the company won a firm contract for close to three months. The name of the vessel and the client were left undisclosed as well as any financial details.

According to the company, the vessel will be operating in West Africa supporting a Scandinavian-owned drilling rig.

NAO added that this was the first time that the company had secured employment outside the North Sea, and that going forward, it would consider employment of this nature.

The vessel operator has previously said it was considering its geographical presence expansion, on selected term business.

It is worth stating that, per NAO’s 2Q report released last Friday, NAO has in the last few weeks entered into term contracts for four of its nine vessels.

These recent deals range from two to five months and secure work for the vessels for the remainder of the current quarter and well into the fourth quarter of 2018.

NAO owns and operates a fleet of ten platform supply vessels (PSV) each averaging approximately 4,000 DWT in size and with an average age of just over four years.

The vessels mainly engaged in the North Sea offshore market between the United Kingdom and Norway.

Offshore Energy Today Staff