Fred. Olsen Windcarrier has formed an alliance in the crew transfer vessel (CTV) sector with Sweden's Northern Offshore Services (N-O-S).
An agreement has been put in place for N-O-S to commercially manage Olsen's seven CTVs with immediate effect.
"Fred. Olsen Windcarrier’s fleet of CTVs will be integrated into N-O-S’s existing management and organisation," the Olsen holding company Bonheur said.
Windcarrier also has two jack-up vessels and 75.5% of Global Wind Service (GWS), an international supplier of personnel to the global wind turbine industry.
It is part of Bonheur's shipping and offshore wind division, which reported EBITDA on Wednesday of NOK 32m ($4m) for the fourth quarter, down from NOK 35m in 2016.
Utilisation for installation vessels was 59%, down from 64%.
Bonheur falls to loss
Bonheur's overall net loss was NOK 477m, from a profit of NOK 48m a year ago, as revenue dipped to NOK 2.06bn against NOK 2.62bn.
Its four cruiseships produced EBITDA of NOK 29m, up from NOK 18m in 2016.
Net ticket income per day rose 22%, but passenger days were down 11% at 243,000.
Operating revenue in the quarter was NOK 476m, from NOK 401m the year before.
