DOF Group has agreed to sell four platform supply vessels and acquire two construction support vessels currently under construction in China as part of fleet high-grading efforts.
The four platform supply vessels being sold—Skandi Mongstad, Skandi Flora, Skandi Feistein, and Skandi Kvitsøy—are scheduled for delivery during the third quarter of 2026. Following debt repayment, the sale is expected to generate approximately $50 million in net cash proceeds, with DOF Group retaining vessel management and a minority ownership interest.
Under a separate agreement with an affiliate of Geveran Trading Company, DOF Group will acquire two construction support vessels featuring 250-tonne cranes and two work-class remotely operated vehicles.
PaxOcean is constructing the vessels in China for delivery expected in the fourth quarter of 2027 and first quarter of 2028, with 85 per cent of the purchase price payable upon delivery.
Separately, the anchor handling tug supply vessel Skandi Amazonas was declared a constructive total loss following a grounding incident near Macaé, Brazil, on May 15, 2026. Because estimated repair costs exceed the vessel's insured value, DOF Group confirmed it will receive a hull and machinery insurance payout of $115 million.
Commenting on the strategy, Chief Executive Officer Mons S. Aase noted that the transactions allow the group to expand earnings capacity on a modern fleet while balancing net spending. “The new CSVs will provide us with additional vessels that are able to generate attractive earnings on their own,” said Aase.