DOF Sells PSV Skandi Gamma to Undisclosed Buyer

Norwegian offshore firm divests vessel as part of strategic realignment towards subsea services.

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DOF, a prominent Norwegian offshore vessel proprietor, has announced the divestment of one of its platform supply vessels (PSVs) to an undisclosed purchaser. The transaction, as disclosed in a filing with Oslo Bors, pertains to the 2011-built PSV Skandi Gamma. Financial intricacies of the transaction have not been publicly disclosed.

The vessel transfer is slated for completion within the current month, with DOF slated to retain its role as the vessel’s technical and commercial manager under the new ownership arrangement.

Last March, DOF secured a new four-year contract from Ithaca Energy for the vessel in question. The contractual agreement, inclusive of two one-year extension options, commenced on May 1, 2023, seamlessly extending the vessel’s operational tenure. Skandi Gamma has been diligently operating on the UK Continental Shelf under Ithaca Energy’s purview since May 2021.

Mons S. Aase, CEO of DOF, articulated that the sale of yet another PSV aligns with the company’s overarching strategy, emphasizing a concerted shift towards integrated subsea services. He further emphasized the company’s interim focus on optimizing earnings and vessel valuations within the PSV fleet.

This transaction underscores DOF’s strategic reorientation within the maritime sector, as it strategically positions itself to capitalize on emerging opportunities and evolving market dynamics. With a steadfast commitment to operational excellence and strategic foresight, DOF continues to navigate the intricate waters of the offshore vessel industry.

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