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

Akastor ASA Cancels Sale of 'Skandi Peregrino'

On May 16, 2025, Akastor ASA announced the cancellation of the planned sale of its vessel "Skandi Peregrino," which was under the management of its subsidiary, DDW Offshore AS. This decision was driven by the absence of the necessary approval from the charterer to novate the relevant contractual agreement, a requirement that was clearly outlined in the initial arrangement. This development signals a critical moment for Akastor ASA and highlights the complexities involved in maritime transactions and charter agreements.

The decision follows a previous announcement dated March 4, 2025, when the company indicated its intent to proceed with the sale of the vessel provided that all necessary consents were obtained, particularly from the chartering party involved. Without this consent, the deal could not proceed, thus leading to the official cancellation announced today.

The 'Skandi Peregrino' is one of DDW Offshore's prominent assets, categorized as an Anchor Handling Tug Supply (AHTS) vessel. These vessels are designed for various offshore operations, including anchor handling, towing, and supplies for oil and gas field operations worldwide. DDW Offshore currently operates three modern AHTS vessels: 'Skandi Atlantic,' 'Skandi Emerald,' and 'Skandi Peregrino.' The capability to maintain such vessels and their operation is crucial for supporting clients in the energy sector, particularly in volatile market conditions.

In an official statement, Øyvind Paaske, the Chief Financial Officer of Akastor ASA, emphasized the impact of this cancellation on the company's operational strategy and market outlook. The expectation was that by diversifying and updating their fleet, they could enhance operational efficiency and add value to stakeholders. However, this cancellation introduces a setback within their asset management strategy.

Akastor ASA is positioned as a significant player in the oil services investment landscape in Norway, managing a portfolio that spans various industrial holdings. With a commitment to active ownership and long-term value creation, the company must now reassess its approach following this development.

The vessel's operational capabilities and its strategic importance underscore the necessity of solidifying dependable contracts and relationships with charterers, especially in today's competitive offshore oil and gas industry environment. With fluctuating demand and challenging economic conditions impacting the energy sector, tightening contractual ties and ensuring compliance from all parties involved are more critical than ever.

As it navigates these turbulent waters, Akastor ASA's cancellation of the 'Skandi Peregrino' sale illustrates the intricate web of dependencies that exist in the maritime and energy sectors. Stakeholders will be keenly watching how the company manages this obstacle and evolves its strategies moving forward. For more detailed information on DDW Offshore and its operations, stakeholders can visit www.ddwoffshore.com.

In conclusion, while this cancellation presents challenges, it also opens an opportunity for Akastor ASA to explore alternative strategies that may enhance its portfolio and reinforce its market position. Future updates are expected as the company re-evaluates its assets and operational commitments in response to this market shift.