DOF Signs Three Charters worth NOK1bn

28 December 2011

Norwegian vessel operator DOF ASA (OSL:DOF) said on Thursday it had entered into three charters, worth a total NOK1bn, including options.

DOF Subsea Chartering has agreed with Oslo-listed oil services company Subsea 7 SA (OSL:SUBC) to charter one of its DOF Installer-classed units for four years, starting in February 2012. The firm period for 2012 is 185 days plus three options of 25 days each. For 2013 and onwards the contact period will be between 100 and 200 days annually.

DOF Subsea UK has signed a one-year charter for its Skandi Inspector ship with Integrated Subsea Services Ltd. The charter will start in April 2012.

In addition, DOF Subsea Chartering has agreed to charter one construction vessel to a major North Sea operator. The deal is expected to start in the second quarter of 2012 for a six-month period plus six monthly options. The customer also has options to use the vessel for the same period in 2013.