An undisclosed Norwegian limited company has signed an agreement with Olympic Shipping for the purchase of two vessels, Olympic Commander and Olympic Hera.

Further to the purchase, the new owner company has entered into an agreement with DOF for management and operation of the two vessels, whereby DOF has an option to purchase the vessels at a price corresponding to the outstanding debt or approximately 50-60% of historical build costs.

The subsea vessel Olympic Commander will be renamed Skandi Darwin, and will be used by DOF on the Shell Prelude inspection, maintenance and repair (IMR) contract in the Asia Pacific region.

The second vessel, Olympic Hera, an anchor handling tug supply (AHTS) and offshore construction vessel (OCV), will be renamed Skandi Hera.

Mons S. Aase, CEO of DOF said, “The agreement reflects the challenging market conditions, but we see it as a vote of confidence in our global organization to be asked to manage and operate these vessels.

“Skandi Hera is a strategically important addition to our fleet. She can serve both as an AHTS vessel and a subsea vessel, and since most of our similar vessels are on long term contracts in Brazil, she will give us good exposure to the same markets in other regions.

“Skandi Darwin is a perfect vessel for the Shell Prelude contract in the Asia Pacific region.”