AHTS Normand Statesman; Source: Ocean Yield

Two vessels score long-term bareboat charters

Norwegian shipowner Ocean Yield has secured new bareboat charters with purchase obligations for two anchor handling tug supply (AHTS) vessels.

AHTS Normand Statesman; Source: Ocean Yield

Ocean Yield revealed on Tuesday, 14 March 2023, that it had entered into an agreement to charter out the two AHTS vessels – Far Senator and Normand Statesman -on bareboat charters to Viking Supply Ships for a period of five years.

According to the shipowner, Viking Supply Ships will have purchase options during the charter, and an obligation to purchase the vessels at the end of the charter term, if requested by Ocean Yield. In addition, the Norwegian player explains that there is “a substantial element” of pre-paid charter hire to be paid upon the start of the transaction.

The 2013-built AHTS Far Senator and Normand Statesman are of a UT 731 CD design and can accommodate 40 people. Both vessels, owned by Ocean Yield, are currently under a lease agreement with Solstad Offshore.

In a separate statement, Viking Supply Ships confirmed that it would take over the AHTS vessels when they go off their existing charter contracts. This is expected to happen at the latest during the summer for Far Senator and late fall this year for Normand Statesman.

Regarding Ocean Yield’s recent activities, it is worth noting that the Norwegian shipowner revealed in December 2022 that it was targeting the acquisition of up to ten Newcastlemax dry bulk newbuildings for a total consideration of up to $576 million.