Norway’s DOF sells LNG-powered PSV

Norway’s DOF has sold its 2011-built LNG-powered platform supply vessel, Skandi Gamma.

DOF said in a statement that the vessel will be delivered to the new owners in April, but it did not reveal the name of the buyer or the price tag of the deal.

The firm will continue as technical and commercial manager for the 94.9 meters long vessel.

Mons Aase, CEO of DOF said the sale of another PSV “is in line with our long-term strategy to focus on the integrated subsea services and the short to medium term focus on optimizing the combination of earnings and vessel values from our PSV fleet.”

DOF announced last year a new four-year firm contract for the PSV with London-listed Ithaca Energy.

The award, which also includes 2 x 1-year options, started on May 1, 2023 in direct continuation of the previous contract.

Skandi Gamma has been working on the UK Continental Shelf (UKCS) for Ithaca since May 2021.

Norway's DOF sells LNG-powered PSV
Image: Pelagic Partners

Pelagic Partners invests in LNG PSVs

Besides this sale, Cyprus-based Pelagic Partners, a ship owning fund formed in 2020 by Niels Hartmann and Atef Abou Merhi, recently completed an investment in two LNG-powered PSVs that will see it partner with UK-based private investment and asset management firm, Borealis Maritime.

Pelagic Partners did not provide more details regarding the deal in a statement issued last week.

Built in 2021, the 89 meters long Aurora Coey – formerly Viking Coey – and Aurora Cooper – ex-Viking Cooper – represent the “best-in-class PSVs available in the market”, according to Pelagic Partners.

Both ice-class ships are dual-fuel and capable of operating on LNG, as well as being ammonia-ready.

The sister vessels are also fitted with hybrid battery power and are currently under charter with “reputable international counterparties”.

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