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Viking Supply Ships AB co-invests in new LNG dual-fuel vessels

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LNG Industry,

Viking Supply Ships AB has announced that, in partnership with funds managed by Borealis Maritime, it has entered into a contract to purchase two LNG dual-fuel high-end platform supply vessels (PSVs).

The PSVs are of Wärtsilä VS 4411 DF design and will be completed by Remontowa Shipbuilding S.A. in Gdansk, Poland. They are currently under construction and are scheduled for delivery in 4Q20 and 1Q21, respectively.

According to the statement, both vessels are environmentally friendly with dual-fuel capabilities, meaning they are capable of operating on LNG or MGO, and will also come fully equipped with a battery pack solution that will further reduce consumption and emissions. Viking claims that the PSVs are considered to complement the existing fleet, and will further enhance the company’s harsh environment capabilities towards its clients.

In addition to the partial ownership, Viking claims that it has been awarded full operational and commercial management of the vessels by Borealis Maritime.

Transaction specific details are confidential, but represent a significant discount compared to original contract price and estimated newbuild prices for similar assets.

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