Standard Drilling inks three long-term charters for large PSVs

Norwegian offshore vessel owner Standard Drilling has scored three longer-term contracts for its platform supply vessels.

Standard Supplier / Image by nz_willowherb/Flickr –  shared under CC BY-NC 2.0 license

The vessels in question are the Standard Princess, Standard Supplier, and Standard Provider large platform suppliers.

Standard Drilling did not say who the clients were, only describing them as “reputable.”Standard Drilling said: “The term contracts secure solid utilization going forward, with well known and reputable counterparties, all at increased day-rates in line with our 2019 forecast. The total firm period of the contracts corresponds to ~460-470 days. In addition, these term contracts have a combined option period of ~265days.”

The company said the contracts’ commercial terms of remained private and confidential but will in total give a positive EBITDA after management costs.

Martin Nes, Chairman of the Board of S.D Standard Drilling Plc said the contracts and the rates to be paid confirm the company’s optimism for the spring and summer season in the North Sea.