S.D. Standard Drilling Plc ("SDSD") - Fleet update
2020-12-18 15:15:07
Standard Viking, 1 (one) of 4 (four) large platform supply vessels ("PSVs")
owned by SDSD, will in beginning of Q1 2021 commence on a one (1) year firm TC
contract with a reputable Oil Major at levels above opex. The contract will
secure solid utilization for one year with a further 2x1 year options at
increased rates.
Standard Princess: mid of December 2020 commenced on a 9 (nine) month firm TC
contract with CNR, then 3x1 month options at increased rates.
Standard Supplier: currently on a 45 days firm + 45 days options contract with
Equinor.
Standard Olympus: currently in-house for maintenance.
The commercial terms of the contracts remains private and confidential.
The utilization for the large size PSVs was on average 74% in October and
November, excluded Standard Olympus that has been in-house.
SDSD has ownership in 12 PSVs in total. Out of these, 4 large size PSVs are
wholly owned. 8 mid-size vessels are partly owned through ~28% ownership in
Northern Supply AS and out of these 8 vessels