Norwegian based and Oslo-listed Standard Supply AS (Standard Supply) reports the sale of their mid-sized PSV Standard Duke for a price of USD 11 million. The PSV is presently on charter to INEOS Energy until expected mid-August where after the delivery to the new buyers will be done.

Martin Nes, Chairman of the Board of Standard Supply, says: “Acquired in late June 2022, the Standard Duke’s purchase price was approximately USD 7 million, inclusive of reactivation costs. Just a year later, we are selling the vessel at a c. 60% higher price. This transaction highlights our ability to act opportunistically in the sale and purchase (S&P) market. Staying true to our strategy, we intend to return this capital to our shareholders promptly.”

As the company previously reported, it achieved time charter equivalent earnings (TCE) of approximately USD 17,000 per day and utilization of 98% in June.

The PSV Standard Duke is a UT755XL type built 2012. She has a total deck area of 716m2, and operates with main propulsion or 2 x 3741 BHP GE Diesel Engines.