DOF Group has agreed to sell four platform supply vessels and acquire two newbuild construction support vessels as part of its fleet high-grading strategy.
The vessels being sold are Skandi Mongstad, built in 2008; Skandi Flora, built in 2009; Skandi Feistein, built in 2011; and Skandi Kvitsøy, built in 2012.
The four PSVs are expected to be delivered to the new owner during the third quarter of 2026 and will continue operating under their current contracts.
DOF Group will retain management responsibility for the vessels and hold a minority ownership interest in the acquiring entity. The sale is expected to generate approximately $50 million in net cash proceeds after debt related to the vessels is repaid.
The company has also signed an agreement with an affiliate of Geveran Trading Company to acquire two 123 m CSVs under construction at PaxOcean in China.
The newbuilds are based on the SALT 310 OCV design. Each vessel will feature a 250 t subsea crane, 1,750 m2 of deck space and a POB capacity of 123. Each will also carry two work-class remotely operated vehicles.
Delivery of the vessels is expected in the fourth quarter of 2027 and the first quarter of 2028. A total of 85% of the purchase price will be paid at delivery.
The acquisition will be funded through a combination of cash generated from vessel sales and available debt financing.
According to DOF Group, the vessels will enter the mid-sized CSV segment and will be suited to inspection, maintenance and repair, field support and subsea construction services. Their work scopes will be decided closer to delivery based on the company’s fleet composition and contract position.
Chief executive Mons S. Aase said the transactions support the company’s plan to replace vessels with lower capabilities or units otherwise not suited to its fleet.
Including the latest transactions, DOF Group has sold nine vessels over the past year and acquired four higher-capability vessels. The company said the additions will increase the capacity available to its subsea regions for project execution.
Separately, DOF Group has declared Skandi Amazonas a constructive total loss following an earlier grounding outside Macaé, Brazil.
The anchor handling tug supply vessel grounded on 15 May after an incident damaged its hull and caused water ingress. An assessment concluded that the potential rebuilding cost exceeded the value covered by its hull and machinery insurance.
The loss will result in a $115 million hull and machinery insurance payout.
