DOF reshapes offshore fleet with PSV sale, CSV order and Skandi Amazonas write-off

Norwegian offshore services company DOF Group has agreed a package of fleet transactions covering four platform supply vessel sales, two newbuilding construction support vessel purchases and the write-off of an anchor handler that grounded off Brazil earlier this year. The four PSVs involved, all built between 2008 and 2012, will be sold to an undisclosed buyer with delivery expected in the third quarter of 2026, generating around $50 million in net cash proceeds after vessel-related debt is repaid.

Under the sale terms, the vessels will remain on their existing contracts, with DOF retaining management responsibility for them as well as a minority stake in the acquiring entity. Separately, DOF has agreed to buy two 123-metre construction support vessels currently under construction in China from a company affiliated with Geveran Trading, the vehicle controlled by Norwegian shipping investor John Fredriksen, who also holds a stake of around 12 percent in DOF itself.

Each of the new vessels will feature a 25-metre beam, 1,750 square metres of deck space, accommodation for 123 people, a 250-tonne subsea crane and two work-class remotely operated vehicles, built to a design from Salt Ship Design. They will also carry DP2 dynamic positioning, battery systems and provisions for methanol-ready operation, with delivery scheduled across the fourth quarter of 2027 and first quarter of 2028 and 85 percent of the purchase price payable on delivery.

Chief executive Mons Aase said the combined transactions were about positioning DOF to earn more from a modern fleet while carefully balancing net spending, with the company funding the newbuilding purchase through vessel-sale proceeds and available debt financing while aiming to keep leverage within its target range. Over the past year, DOF has now sold nine lower-capability or non-core vessels and acquired four higher-end units, including the latest deals.

Alongside the fleet transactions, DOF confirmed it has declared the Brazilian-flagged anchor handler Skandi Amazonas a constructive total loss after concluding that repair costs would exceed its insured value, triggering a $115 million hull and machinery insurance payout. The vessel suffered hull damage and water ingress in May before grounding near Macaé in Brazil's Rio de Janeiro state; of the 29 people aboard, several were transferred to nearby vessels while the remainder stayed on board, with no casualties, missing crew or pollution recorded. Salvage teams have since begun installing anchors ahead of a planned refloating operation, while a Brazilian maritime inquiry into the grounding continues.