Norway’s DOF has struck another charter deal to support its growing Jones Act operations in the US.
The Oslo-listed offshore vessel specialist already has the 94-loa multipurpose support ship Ross Candies (built 2009) on charter from owner Otto Candies of Louisiana.
Now DOF has added a deal for the 85-loa Chloe Candies (built 2006) for a firm period of two years.
The vessel will support operations for existing North American clients in the Gulf of Mexico.
In addition, DOF said it has sold the elderly 3,600-dwt platform supply vessel Skandi Sotra (built 2003) to an international buyer with delivery in the first half of 2022.
VesselsValue rates the ship as worth $2m.
In addition, DOF has agreed to an extension of its standstill agreement on debt repayments to lenders until 31 March.
The company is trying to clinch a long-term $2bn debt refinancing and has warned it cannot continue as a going concern if a deal is not reached.
Average utilisation of the fleet was up at 82% in the fourth quarter, from 68% the year before.
The company controls 59 vessels, with two owned ships in lay-up.
Talks go on
“The dialogue with the lenders concerning a robust long-term financial solution has had progress through the quarter,” DOF said.
“There are certain issues pending, hence the outcome of the restructuring process is still uncertain,” the company warned.
The net loss for the fourth quarter was NOK 281m ($31.75m), down from a profit of NOK 238m, due to a big foreign exchange gain a year ago.
Revenue rose to NOK 1.66bn from NOK 1.34bn.
