Island Offshore seals ConocoPhillips PSV fixture
Island Offshore Secures New PSV Contract
Island Offshore, a Norwegian owner of offshore supply vessels (OSVs), has announced a new contract for its platform supply vessel, the Island Contender, in the Norwegian sector. The vessel has been contracted by ConocoPhillips Skandinavia for 45 days, with additional options available for extension. While the specific day rates for this contract have not been disclosed, the Island Contender is set to transition from its current spot fixture with Equinor UK in May to commence this new term contract.
Recent Developments in Island Offshore’s Fleet
In addition to the new contract for the Island Contender, Island Offshore has recently secured a long-term commitment for another of its platform supply vessels. Equinor UK has opted to extend its hire of the Island Chieftain, a hybrid battery-powered PSV built in 2009, until at least May 2027. This decision reflects a growing trend in the industry towards sustainable and efficient vessel operations, particularly as energy companies seek to reduce their carbon footprints.
The Island Contender, built in 2012, is currently engaged in spot trades but will soon shift to fulfill its new contract obligations. The strategic moves by Island Offshore indicate a robust response to market demands and a focus on maintaining a competitive edge in the offshore supply sector. As the energy landscape evolves, the company’s commitment to both short-term and long-term contracts showcases its adaptability and foresight in navigating industry challenges.
