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NAO Tallies One-year PSV Charter

Maritime Activity Reports, Inc.

December 6, 2018

Nordic American Offshore Ltd (NAO) said it has been awarded a one-year fixed contract for the 2013-built platform supply vessel (PSV) NAO Power.

The contract with an unnamed "first-class company" is due to commence in early December 2018, and includes two three-months options following the firm charter period.

NAO Power will operate primarily in the North Sea.

The orderbook for U.S. dredgers is about $3B, and according to DCA CEO Bill Doyle, the incoming political administration could help this niche maritime sector continue its bull run.
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