Norway’s DDW Offshore has struck a refinancing deal to take full control of its fleet of three large anchor-handling tug supply (AHTS) vessels.
The company, controlled by tycoon Kjell Inge Rokke’s contracting company Akastor, said it has arranged a $31m loan package with US alternative shipping financier EnTrust Global’s Blue Ocean Funds.
The new facility matures in September 2026 and is guaranteed by Akastor.
The cash was used to settle an existing loan facility maturing in February 2024, as well as end a profit-split arrangement for two anchor-handling tug supply (AHTS) ships, the 16,315-bhp Skandi Atlantic (built 2012) and Skandi Emerald (built 2011), agreed with previous lenders.
The Skandi Atlantic is chartered to Petrofac Services in the UK, while the Skandi Emerald is fixed to Beach Energy in Australia.
The EnTrust money will also reactivate the 16,315-bhp AHTS sister Skandi Peregrino (built 2010) in improving offshore markets.
The ship is currently in warm layup.
The remainder of the $31m will go towards general corporate purposes.
Following the transactions, DDW Offshore holds “full economic interest” in the three ships, the company said.
The fleet is worth $38m, according to VesselsValue.
Akastor is 37% owned by Rokke's Aker Kvaerner and 14% by investment bank Goldman Sachs.
The offshore company in turn has stakes in Odfjell Driling and Awilco Drilling, as well as half of shipowner AKOFS Offshore.
