Solstad Offshore has locked several of its offshore vessels into contracts worth at least NOK 230m ($26.1m).
The Oslo-listed offshore vessel owner revealed the deals as it pointed to signs of continuing strength in the sector.
“The market for offshore vessels continues to improve with strong demand from oil and gas, in addition to an increasing demand from renewable energy activity,” Solstad said.
The transactions include contracts for four platform supply vessels (PSVs) that have an aggregate duration of about 500 days of employment, not including options to extend.
The contracts for the 4,000-dwt Normand Tantalus (built 2013), 5,900-dwt Normand Serenade (built 2009), 5,550-dwt Normand Springer (built 2014) and 4,900-dwt Normand Arctic (built 2012) start in the second and third quarter of this year.
Solstad did not name the charterers but said the PSVs will work for “key operators” in the UK and Norway.
The Norwegian company also said that it scored multiple contracts for several anchor handling tug supply vessels for an aggregate of at least 350 days of utilisation, with options potentially expanding the deals’ periods.
Those charters will see the AHTSs operate in the North Sea, US Gulf and West Africa starting in the second and third quarters of this year.
The deals come amid high rates for offshore vessels, including in the North Sea market in Solstad’s neighbourhood.
Data from shipbroking giant Clarksons showed spot earnings for a large PSV in the North Sea bounced back to nearly £16,300 ($21,200) per day on Friday, the highest level since 4 March and more than triple daily earnings at the end of 2021.
Spot day rates for AHTSs in the North Sea have lost ground, falling to about £23,500 per day on Friday from a peak of £67,570 on 18 March.
But the ships are still earning double the levels at the end of 2021, according to the Clarksons data.
In its April report for the sector, the shipbroker’s Clarksons Research arm said it expects the market to remain supportive for offshore support vessel (OSV) market progress this year and in 2023.
