Contract Award for 2 DDW Offshore Vessels

Source: www.gulfoilandgas.com 3/18/2021, Location: South America

Akastor ASA’s wholly owned subsidiary, DDW Offshore AS has entered into bareboat charter agreements with OceanPact Servicos Maritimos S.A. (“OceanPact”), a Brazilian subsea and logistic company, for the two AHTS vessels Skandi Saigon and Skandi Pacific for a period of 26 months.

As part of the agreements, forward sale of the vessels has been agreed whereby OceanPact shall 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. Commencement under the two charter agreements is expected to take place in Q2 2021.

Karl Erik Kjelstad, CEO of Akastor, says: “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.”


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