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    DOF gains access to subsea vessels

    Vessel & ROV News // February 9, 2017

    A Norwegian limited company has signed an agreement with Olympic Shipping regarding the acquisition of two subsea vessels, Olympic Commander and Olympic Hera.

    DOF has entered into a management agreement with the new owner for management and operation of the two vessels, and has an option to purchase the vessels at a price corresponding to the outstanding debt or approximately 50-60 per cent of the historical build costs.

    The subsea vessel Olympic Commander will be renamed Skandi Darwin, and will be used by DOF on the Shell Prelude IMR contract in the Asia Pacific region.

    Olympic Hera is an anchor handling/construction vessel, and will be renamed Skandi Hera.

    In a statement, DOF's CEO Mons Aase said: "The agreement reflects the challenging market conditions, but we see it as a vote of confidence in our global organization to be asked to manage and operate these vessels.

    "Skandi Hera is a strategically important addition to our fleet. She can serve both as an AHTS vessel and a subsea vessel, and since most of our similar vessels are on long term contracts in Brazil, she will give us good exposure to
    the same markets in other regions. Skandi Darwin is a perfect vessel for the Shell Prelude contract in the Asia
    Pacific region."

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