DOF adds the vessels Olympic Commander and Olympic Hera to its fleet

A Norwegian limited company, not owned by DOF, has signed an agreement with Olympic Shipping regarding purchase of two vessels, Olympic Commander and Olympic Hera.

DOF has entered into a management agreement with the new owner company 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% of historical build costs.

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

Olympic Hera is an Anchor Handling Tug Supply and Offshore Construction Vessel, and she will be renamed Skandi Hera.

In a statement, CEO Mons S. 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.”

For further information, please contact:

Mons S. Aase, CEO, Tel + 47 91 66 10 12

With a multi-national workforce in excess of 4,000 personnel, DOF ASA is an international group of companies which owns and operates a fleet of modern offshore/subsea vessels, and engineering capacity to service both the offshore and subsea market. With over 30 years in the offshore business, the group has a strong position in terms of experience, innovation, product range, technology and capacity.

DOF’s core businesses are vessel ownership, vessel management, project management, engineering, vessel operations, survey, remote intervention and diving operations primarily for the oil and gas sector. From PSV charter to Subsea engineering, DOF offers a full spectrum of top quality offshore services to facilitate an ever-growing and demanding industry.

The company's main operation centers and business units are located in Norway, the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.