Island Offshore Nets $55M Worth of Vessel Deals

Island Offshore, a Norwegian offshore vessel owner, said Monday it had won several important vessel deals worth around $55,4M in the first few months of the year, with 25 vessels currently employed.

According to the vessel owner, the total value of awarded contracts is approx. NOK 500 million (around $55,43 million) and as of March, 60% of available days in 2022 are sold out.

Island Offshore said that the charters covered employment across segments including platform supply vessels, anchor handling, subsea, offshore wind, and light well intervention. 

"The international market development is particularly positive," Island Offshore said. The company did not say who the clients were, nor which vessels exactly had secured the deals.

"We are extremely pleased with the trust shown in us by our customers. These contracts evidence a continued market recovery despite the current international instability following the conflict in Ukraine," states Managing Director Tommy Walaunet, the company said.