Skandi Saigon vessel - DDW Offshore - Akastor

Two Akastor vessels to be sold after two-year job with Petrobras

DDW Offshore, an Akastor subsidiary, has entered into bareboat charter agreements with OceanPact Servicos Maritimos for two vessels for a period of 26 months. In addition, OceanPact will buy the vessels once the charters end.

Skandi Saigon vessel; Source: DDW Offshore

OceanPact is a Brazilian subsea and logistic company. The vessels in question are Skandi Saigon and Skandi Pacific.

They are both anchor handling tug and supply (AHTS) vessels of an STX AH08 design built in 2011.

Akastor said on Thursday that, as part of the agreements, the forward sale of the vessels has been agreed whereby OceanPact will purchase the vessels at the end of the charter period.

The vessels will work for Petrobras, supporting the company’s production activities on the Brazilian continental shelf.

Skandi Pacific vessel - DDW Offshore - Akastor
Skandi Pacific vessel; Source: DDW Offshore

The beginning under the two charter agreements is expected to take place in the second quarter of 2021.

Karl Erik Kjelstad, CEO of Akastor, said: “By entering into these long-term agreements for two of DDW Offshore’s five vessels, DDW Offshore secures revenue and predictability going forward.

“The sale of the vessels will allow DDW Offshore to reduce its debt obligations according to the restructuring agreement reached between Akastor and DDW Offshore lenders in October last year”.

Namely, DDW Offshore, previously named DOF Deepwater, was jointly controlled by Akastor and DOF ASA.

In August 2020, DOF transferred all of its shares in DOF Deepwater to Akastor.

Akastor took ownership of DDW Offshore and its five vessels – Skandi Emerald, Skandi Peregrino, Skandi Saigon, Skandi Pacific, and Skandi Atlantic – and consolidated it into Akastor Group as a subsidiary from 4Q 2020.