Norway’s Golden Energy Offshore has sold one of five ships purchased in last month’s deal with Vroon.
The Oslo-listed offshore vessel owner announced on Wednesday the sale of the 1,712-dwt VOS Sugar (built 2016) for €15m ($15.9m) to an undisclosed buyer.
“The resale value gave a substantial profit to the company,” chief executive Per Ivar Fagervoll told TradeWinds. “You can say it’s a non-core vessel.”
In July, the Alesund-based company spent $95m to grow its fleet to eight vessels, acquiring four platform supply vessels and a subsea support unit from the recently reorganised Vroon.
At the time, Fagervoll said the deal pushes the “pedal to the metal” and represents Golden Energy Offshore’s latest steps to “really become a player to be reckoned with in the offshore market”.
The company did not name the five ships in announcing the transaction and still has not named the other four ships beyond the subsea support vessel (SSV) VOS Sugar.
The three pre-transactions ships are the 3,957-dwt multipurpose supply vessel Energy Duchess (built 2019) and two PSVs: the 5,304-dwt Energy Swan (built 2005) and 3,952-dwt Energy Empress (built 2019).
In the first half of the year, Golden Energy Offshore reported a NOK 3.9m ($361,000) loss, much lower than the NOK 86.5m loss for the first half of 2022.
In the earnings report, it said it had a need for liquidity with NOK 7.7m of cash on its balance sheet.
The offshore sector’s fundamentals are solid, it said, and it expects a strong market going forward, a take shared by many in the sector.
