Akastor unit DDW Offshore offloads AHTS
DDW Offshore, backed by Akastor, has successfully completed the sale of its anchor handler vessel, *Skandi Atlantic*, for a total of $22.75 million. This transaction marks a significant step in the Norwegian company’s ongoing efforts to streamline its offshore fleet. The deal was finalized today after receiving the necessary consent from the charterer, a condition that was crucial for the completion of the sale.
The proceeds from this sale will play a vital role in reducing the company’s debt. Approximately $8 million of the sale price will be allocated to repaying a portion of DDW Offshore’s borrowings, which will leave the subsidiary with an outstanding debt of around $16 million. This strategic move is part of DDW Offshore’s broader financial management plan as it seeks to enhance its operational efficiency and financial stability.
Retained Fleet and Previous Sale Attempts
Following the sale of the 2012-built *Skandi Atlantic*, DDW Offshore will continue to operate two anchor handling tug supply (AHTS) vessels: *Skandi Emerald* and *Skandi Peregrino*. Both vessels are equipped for worldwide operations, capable of performing anchor handling, towing, and supply duties. This retention of assets indicates the company’s commitment to maintaining a functional fleet while optimizing its financial position.
The recent transaction comes on the heels of a previous attempt to sell *Skandi Peregrino*. In March of last year, DDW Offshore had reached an agreement to sell the vessel, contingent upon obtaining charterer approval. However, that deal fell through when the necessary consent was not granted, leading to the cancellation of the sale. This history underscores the complexities and challenges often faced in the offshore vessel market, where charterer agreements can significantly impact transaction outcomes.
As DDW Offshore moves forward, the successful sale of *Skandi Atlantic* not only alleviates some of its financial burdens but also reflects the company’s ongoing strategy to adapt and thrive in a competitive industry. The focus now shifts to optimizing the operations of its remaining fleet while navigating the evolving landscape of offshore services.
