#Norway #Oslo #DDW Offshore #Akastor ASA #Skandi Peregrino

Akastor ASA's Cancellation of the Skandi Peregrino Sale

On May 16, 2025, Akastor ASA (OSE: AKAST) made a significant announcement regarding its subsidiary DDW Offshore AS (DDW Offshore) and the cancellation of the sale of the vessel Skandi Peregrino. This decision comes after the charterer did not provide the necessary consent for the novation of the vessel's relevant contract, as per the agreement initially stated in the company's press release dated March 4, 2025.

Background of the Sale Agreement

The sale agreement for the Skandi Peregrino was conditional upon receiving the charterer's consent. Without this approval, the agreement became invalid, leading to today's cancellation. This decision reveals the complexities involved in maritime contracts, where multiple parties must be in agreement for a transaction to proceed.

The Skandi Peregrino is an Anchor Handling Tug Supply (AHTS) vessel that is part of DDW Offshore's fleet, which includes two other modern vessels: Skandi Atlantic and Skandi Emerald. These vessels are specially designed to handle anchor management, towing, and supply operations in offshore oil and gas fields worldwide.

The cancellation can be seen as a procedural setback for DDW Offshore, which has been focusing on strengthening its position in the offshore support market. The inability to finalize the sale may also affect the company's financial outlook moving forward due to the missed opportunity for capital infusion from the transaction.

Insight Into DDW Offshore

DDW Offshore is recognized for its operational excellence within the offshore maritime sector. It operates a fleet capable of providing essential support services for offshore oil and gas exploration. The company aims to maintain its competitive edge by investing in advanced maritime technology and expanding its operational reach.

As a subsidiary of Akastor ASA, a Norway-based oil-services investment entity, DDW Offshore is well-positioned within the energy sector. Akastor's flexible investment strategy emphasizes long-term value creation, enabling its subsidiaries to navigate market challenges while aiming for operational growth.

Looking Ahead

Moving forward, Akastor ASA and DDW Offshore will likely concentrate on strengthening relationships with their clients and reassessing their contractual frameworks to prevent similar situations. The maritime industry often faces regulatory and operational hurdles, making it crucial for firms like Akastor and DDW Offshore to adapt swiftly to changing conditions.

Stakeholders will be keenly observing how the developments regarding the Skandi Peregrino unfold, as they may impact other transactions involving DDW Offshore's fleet and overall strategy within the offshore market.

For more information about DDW Offshore and its services, you can visit their official website at www.ddwoffshore.com.

This announcement is classified as inside information under the EU Market Abuse Regulation and adheres to the disclosure requirements outlined in Section 5-12 of the Norwegian Securities Trading Act.

For inquiries regarding this announcement, you may contact Øyvind Paaske, Chief Financial Officer of Akastor ASA, at +47 917 59 705 or via email at [email protected].