DOF Group entered into an agreement to purchase the anchor handling tug supply (AHTS) vessels Aurora Saltfjord and Aurora Sandefjord. The 2011-built vessels feature a bollard pull of almost 400 tonnes, which the company stated makes them among the most powerful of their type globally.
As part of a plan to update its fleet, DOF Group also agreed to sell the 2010-built vessel Skandi Laser. The vessel, which has a 252-tonne bollard pull, recently operated on a subsea project in West Africa and in the spot market.
The net investment for these transactions is approximately $100 million. The company reported that around $30 million is expected to be cash, with the remainder to be financed through available debt funding.
The divestment of Skandi Laser is expected to result in a gain on book value of approximately $12 million. DOF noted this gain is expected to be recorded in the second quarter of 2026.
Chief Executive Officer of DOF Group, Mons S. Aase, said that the market for such "high-end" vessels has lagged the broader subsea vessel market but is now catching up due to strong demand across various geographies.
The company stated that "high-end" capacity has been a constraint in recent tendering activity. It noted that the segment for vessels with more than 300 tonnes of bollard pull sees no newbuilding activity because of prohibitive costs.
DOF highlighted that it already has a project backlog for the Skandi Skansen in 2027, explaining that clients are securing this type of critical capacity earlier than in the past.
The company intends to continue fleet optimisation efforts by prioritising the divestment of vessels that are not core to its strategy. This strategy aims to be net neutral regarding acquisition costs and divestment proceeds, DOF noted.
Aurora Sandefjord is expected to be delivered in April 2026, while Aurora Saltfjord is expected in June or July 2026.
Skandi Laser is expected to be delivered to its new owner in May 2026, though DOF will retain management responsibilities for the vessel.