(WO) – DOF Group has agreed to sell four platform supply vessels (PSVs) and acquire two construction support vessels (CSVs) currently under construction as part of its ongoing fleet optimization strategy. The company said the transactions will strengthen its subsea fleet, increase earnings capacity and maintain its target leverage ratio.
The four PSVs — Skandi Mongstad, Skandi Flora, Skandi Feistein and Skandi Kvitsøy — are expected to be delivered to the buyer during the third quarter of 2026 while remaining on their current contracts. DOF will continue managing the vessels and retain a minority ownership interest in the acquiring entity. The sale is expected to generate approximately $50 million in net cash proceeds after debt repayment.
DOF also agreed to acquire two construction support vessels from an affiliate of Geveran Trading Company. The vessels, which are under construction at PaxOcean in China, are scheduled for delivery in late 2027 and early 2028. The company said the additions will expand its capacity for inspection, maintenance and repair (IMR), field support and subsea construction work, citing record backlog levels and strong demand for offshore subsea services.
Separately, DOF declared a constructive total loss on the anchor handling tug supply vessel Skandi Amazonas, which ran aground near Macaé, Brazil, in May. Following a damage assessment, the company determined rebuilding costs would exceed the vessel’s insured value and expects to receive a $115 million hull and machinery insurance payout.
“The transactions follow DOF’s strategy of high-grading the fleet across vessel segments,” CEO Mons S. Aase said. “The higher-end vessels provide our subsea regions with a larger fleet to execute projects and increase earnings capacity while supporting the company’s long-term growth.”
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