Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS Njord Viking. The vessel has been working for Eni Norge in the Barents Sea and has also been part of the extended towing-preparedness in the area on behalf of the Norwegian Coastal Administration.

Viking Supply Ships AS has received termination of contract for the AHTS Njord Viking

AHTS Njord Viking - Image: L.J.Axt

The vessel was according to the contract with Eni Norge firm until the end of 2016, with optional periods of 2 x 6 months thereafter. According to the contract VSS will be entitled to a termination fee of approximately USD 13.300/day for the remainder of the firm period.

The termination represents a loss of income during the remaining firm period of the contract of MUSD 3.3 in 2016. VSS will further off-set this loss by marketing the vessel in the North Sea spot market, while also searching for alternative contracts for the vessel.

Source: Viking Supply