Nordic American Offshore secures contract for its PSV NAO Viking
Bermuda-registered Nordic American Offshore Ltd. (NAO) says it has been awarded a two-year fixed contract for the Platform Supply Vessel (PSV) built in 2015, “NAO Viking”.
NAO said in its press release that the PSV will be operating primarily in the North Sea. Commencement of the contract is mid-December 2018. The contract also grants the Customer (it's name is not disclosed) two one-year optional periods after the initial firm period.
The contract is securing steady employment and contribution for “NAO Viking”.
Nordic American Offshore Limited (“NAO”) was incorporated in the Marshall Islands in 2013. In November 2013 NAO sold securities in private placement of shares to be traded in Oslo as an Over The Counter (OTC) listing. The proceeds from the first offering and part of the credit facility were used to acquire 6 PSVs built 2012 and 2013 from the Ulstein Group of Norway for a total of USD 270m. The vessels were of high specification. NAO's initial focus of operations is in the North Sea. Currently all of its vessels are on medium to long term charters.