Norway’s Ocean Yield has found long-term employment for two super-large anchor-handling tug supply (AHTS) ships.

Christen Sveaas’ Viking Supply Ships has agreed a bareboat charter for the 21,454-hp Far Senator and 21,457-hp Far Statesman (both built 2013), formerly operated by Solstad Offshore.

Oslo-listed sale and leaseback shipowner Ocean Yield said Viking Supply will have purchase options for the vessels during the charter.

The charterer is obliged to buy the duo at the end of the term in any case, if requested by Ocean Yield.

“There is also a substantial element of pre-paid charter hire to be paid upon commencement of the transaction,” the owner said.

VesselsValue assesses the ships as worth $29m and $35m, respectively.

This is up from $19m and $23m a year ago as offshore markets recover from years of low rates.

In 2021, Ocean Yield said it had no plans to sell the pair as Solstad resumed charter payments.

Ocean Yield had received no payments from Solstad for two years as the offshore vessel owner struggled with dire markets.

But the Lars Peder Solstad-led firm sealed a $2bn debt restructuring in 2020 that redrew the charters and allowed the cash to flow once more.

At that time, they were employed in Brazil and Australia.

Spot AHTS ships in the North Sea are currently earning NOK 900,000 ($85,000) per day.

Earlier this month Ocean Yield added $70m to its cash pile through the sale of a new bond in Oslo.

The company, owned by US private equity giant KKR, said the unsecured issue is worth NOK 750m ($70.5m).

The notes carry a coupon of the Norwegian interbank rate (Nibor) plus 3.95%, much lower than existing series.