Ostensjo Awarded Multiple Long Term Contracts

Source: www.gulfoilandgas.com 2/9/2021, Location: Europe

Ostensjo Rederi and DeepOcean have agreed new contracts for Edda Fauna and Edda Flora.

The new contracts will commence in Q1 2021 and will secure firm utilization until end 2022.

Both Edda Fauna and Edda Flora will be delivered to DeepOcean with a fully integrated state-of-the-art hybrid battery system installed, for a significant reduction in fuel and emission. This environmentally friendly solution was granted essential support from ENOVA.

Ostensjo Rederi has also agreed on a contract extension with Fugro for Edda Sun. The contract secures firm utilization until Q4 2021. Edda Sun has been chartered on a bareboat contract to Ostensjo Rederi since 2017.

– We are very satisfied with being awarded the new contracts and we look forward to continue delivering safe and efficient operation for our trusted clients, says CEO Kenneth Walland.

Ostensjo, along with many other shipping companies, was hit hard by the outbreak of COVID-19. Our company experienced a huge impact on the offshore market and parts of the tugboat market.

–Just as we were seeing the light at the end of the tunnel, and expected to have a positive summer market, COVID-19 hit us, turning our lives upside down. I am however proud of the fact that we have been able to work our way through a very difficult time without any temporary- or permanent layoffs of personnel. COVID-19 is still very much part of our everyday life and continues to challenge Ostensjo and other maritime service providers, but we are prepared to meet challenges head-on and continue to create business for our company, says Walland.

Historically, the winter market is more challenging, but Ostensjo currently has its entire fleet of 31 vessels in operation.

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