Long-term Charters for Østensjø Rederi Offshore Vessel Trio

Norwegian offshore vessel provider Østensjø Rederi has signed long-term contracts for three of its offshore vessels.

The new contracts for the Edda Fauna and Edda Flora vessels, signed with subsea services company DeepOcean, will begin in the first quarter of 2021 and will secure firm utilization until the end of 2022, Østensjø Rederi.

"Both Edda Fauna and Edda Flora will be delivered to DeepOcean with a fully integrated state-of-the-art hybrid battery system installed, for a significant reduction in fuel and emission. This environmentally friendly solution was granted essential support from ENOVA," Østensjø Rederi said.

Also, Østensjø Rederi has agreed on a contract extension with Fugro for the Edda Sun vessel. The contract secures firm utilization until Q4 2021. Edda Sun has been chartered on a bareboat contract to Østensjø Rederi since 2017.

"We are very satisfied with being awarded the new contracts and we look forward to continuing delivering safe and efficient operation for our trusted clients, says Østensjø Rederi CEO Kenneth Walland.

Østensjø has said that it has, along with many other shipping companies, hit hard by the COVID-19 pandemic, and suffered "a huge impact on the offshore market and parts of the tugboat market."

Walland said: "Just as we were seeing the light at the end of the tunnel, and expected to have a positive summer market, COVID-19 hit us, turning our lives upside down. I am however proud of the fact that we have been able to work our way through a very difficult time without any temporary- or permanent layoffs of personnel. 

"COVID-19 is still very much part of our everyday life and continues to challenge Østensjø and other maritime service providers, but we are prepared to meet challenges head-on and continue to create business for our company."

Historically, Østensjø Rederi said, the winter market is more challenging, but Østensjø currently has its entire fleet of 31 vessels in operation.