Eidesvik Offshore, Chevron in PSV deal

27 May 2015, News Wires – Eidesvik Offshore has secured a new charter with Chevron for its platform supply vessel Viking Princess in the UK sector of the North Sea despite a market slump.

The US supermajor has taken the vessel on a firm 19-month contract, with four optional six-month extensions, that is due to kick off at the turn of June and July.

The Oslo-listed offshore vessel owner did not disclose the value of the deal but said in a statement it was agreed at “current market terms”.

However, dayrates have plunged for offshore vessels as utilisation has been hit by a sharp decline in activity due to exploration and development cutbacks by oil companies amid low crude prices, resulting in an increasing number of vessel lay-ups.

– Upstream

About the Author