Eidesvik sells OSV pair, buys one more vessel

1 May 2012 (Last Updated May 1st, 2012 18:30)

Norway-based shipowner Eidesvik has signed a $64m agreement to sell two of its offshore supply vessel (OSV) and buy another vessel for $24m.

Norway-based shipowner Eidesvik has signed a $64m agreement to sell two of its offshore supply vessel (OSV) and buy another vessel for $24m.

The OSV vessels to be sold include Viking Surf built in 2002 and Viking Thaumas built in 2005, currently under charter contract in Brazil.

Eidesvik is scheduled to deliver the vessels in the first half of May 2012 and expects to gain NOK77m ($13.4m) out of the transaction.

Eidesvik has also signed a separate deal worth $24m to buy a supply vessel named UT 755L, built at STX Aukra Norway in 2004. Delivery is expected during the first half of May 2012.

Viking Surf has a length of 70.4m, width of 16.6m, depth of 6.5m and carrying capacity of 3,800t, with accommodation for 32 people.

Viking Thaumas has a carrying capacity of 3,500dwt, length of 73.4m, width of 16.6m, depth of 6.42m, and can accommodate 32 people.

The company has also secured a bank guarantee connected to the deal, which will be repaid in 12 instalments over the next 12 months.

Eidesvik said it is selling the OSV pair as the return from the Brazil operation was not meeting the expectations of the company.

After the delivery of UT 755L, the company plans to charter the vessel in spot market in the North Sea region.

The company has reported an operating profit of NOK244.3m ($42m) during the fourth quarter of 2011, compared to the NOK 261.4 ($45.6m) it reported during the corresponding quarter last year.