Golden Energy Offshore Services has reported its financial results for the fourth quarter of 2025. The Norway-based shipowner recorded a total income of NOK45.2 million ($4.86 million) and a net loss of NOK138.6 million for the three-month period.
For the full year of 2025, the company posted a total income of NOK369.8 million and a net loss of NOK194.7 million. GEOS said these figures are currently under review and will be finalised in its annual report.
The company said it recently capitalised on strong demand in the sale and purchase market by selling three of its platform supply vessels at high valuations. The transactions included the sale of Energy Empress for $30 million, Energy Partner for $27.3 million, and Energy Passion for $28 million.
Following these sales, the remaining owned fleet consists of four vessels, including Energy Duchess, Energy Pace, Energy Paradise, and Energy Swan. These vessels are scheduled to undergo no near-term dry-docking as all four completed their special surveys within the last 24 months.
GEOS said it expects the global oil production profile to lead to a deficit of more than 25 million barrels (four billion litres) per day by 2030.
This supply shortfall is projected to support elevated offshore drilling activity, which typically drives increased demand for support vessels.
In the North Sea, the company reported that spot rates for vessels with a deck area of 500 to 899 square metres rose from £5,800 ($7,800) per day in January 2026 to £22,800 per day in April 2026.
The tighter market conditions were highlighted when Equinor chartered a vessel offshore Norway at a record rate of NOK4 million per day, equivalent to £313,000 per day.
To fund its operations, the shipowner utilised a sale and leaseback facility that has an outstanding debt of approximately $46.3 million as of May 11, 2026. This financing agreement is scheduled to mature on June 30, 2030, and includes purchase options that can be exercised throughout the term.