In a move aimed at strengthening its position in the high-end AHTS market, DOF Group has entered into an agreement to purchase two very high-end AHTS vessels, Aurora Saltfjord and Aurora Sandefjord. The vessels are among the most powerful AHTS vessels globally, boasting a bollard pull of almost 400 metric tonnes. This impressive capacity makes them highly sought after in the industry for projects requiring heavy lifting capabilities.
The acquisition is part of DOF's strategy to high-grade its fleet and align it with the company's core business of delivering integrated offshore services. The recent lack of newbuilding activity in the AHTS segment due to prohibitive costs has made this move a strategic necessity for DOF. By acquiring these vessels, DOF is well-positioned to capitalize on the growing demand for high-end AHTS capacity.
The Aurora Saltfjord and Aurora Sandefjord are among the most recently built in their segment, reflecting the industry's focus on efficiency and reliability. However, this also means that there is limited availability of new vessels in the market, making DOF's acquisition highly strategic. The company expects to benefit from the strong demand for high-end AHTS vessels in the years to come.
As part of the agreement, DOF has agreed to sell its AHTS vessel Skandi Laser, which was built in 2010 and features a bollard pull of 252 metric tonnes. The sale is expected to result in a gain on book value of approximately USD 12 million for DOF, with the net investment from the transactions totaling around USD 100 million.
The acquisition of Aurora Saltfjord and Aurora Sandefjord is expected to be completed by April and June/July 2026, respectively. Skandi Laser is also scheduled for delivery in May 2026, marking a significant milestone in DOF's fleet optimization efforts. The company will continue to manage Skandi Laser after the sale.
The divestment of Skandi Laser is part of DOF's strategy to balance out its net total investment cost and prioritize vessels that are core to its business. By selling smaller and older vessels, DOF can focus on acquiring high-grade assets that align with its long-term goals.
Mons S. Aase, CEO of DOF Group, comments that the acquisition enhances the company's position as a leading player in the high-end AHTS market. The addition of Skandi Laser to its fleet will add valuable capacity to deliver integrated offshore services to clients. DOF expects strong demand for high-end AHTS vessels in the coming years.
The AHTS market has historically lagged behind other segments, but recent trends suggest that it is catching up with strong demand across geographies. DOF's acquisition of Aurora Saltfjord and Aurora Sandefjord reflects this trend, as the company looks to capitalize on growing demand for high-end AHTS vessels.
With its recent vessel transactions, including the sale of three smaller vessels last year, DOF has demonstrated its commitment to fleet optimization. The company will continue to prioritize divestment of vessels that are not core to its strategy, focusing on acquiring high-grade assets that align with its long-term goals.
The acquisition of high-end AHTS vessels will enable DOF to deliver integrated offshore services to clients more effectively.
