Norwegian owner SD Standard Drilling has fixed the last of its five large platform supply vessels (PSVs) on a period contract.
It said the 4,100-dwt Standard Supporter (built 2009) has been booked by Repsol to work on one well for 100 days at rate levels "well above operating cost."
All five ships are now fixed on term deals. SD expects these to bring in positive EBITDA after management costs.
Chairman Martin Nes said: "If options are exercised, we have successfully secured winter coverage for all our large size vessels.
"It is a challenging winter market so keeping the vessels in operation is key and in line with the company’s strategy. We are now in a good position to meet what we think will be a better market when the spring season arrives.”
The utilisation for the large PSVs was 90% in the fourth quarter and 91% for the year 2018.
“Considering the market that we have been in and based on our strategy to not charter out our large vessels on long contracts with low rates, we are satisfied with the utilisation,” Nes added.
SD has ownership shares in 17 PSVs in total.
