As a good start to the new year, we are pleased to announce that Edda Accommodation has secured a new contract for Edda Fides.
The history of Edda Accommodation can only be described as a fairytale, and Edda Fides has been very profitable. However, since 2017, the market has been very challenging for the accommodation segment.
We are therefore happy with the fact that the vessel currently is being manned up and prepared for work. We cannot disclose the client yet, but commencement is next week and for a period of a minimum of 45 days with options for another 45 days. Personnel onshore and onboard are busy meeting deadlines and we are all eager to have the vessel in operation again.
In addition to securing a new contract, Edda Accommodation just entered into a refinancing agreement that will provide the company with more financial flexibility in the time ahead.
-I am pleased that we are able to agree on constructive solutions and reach an agreement together with our lenders in today’s challenging market, CEO Kenneth Walland says.
As part of the restructuring, the Østensjø group has bought out all external investors and taken over 100 % of the ownership of Edda Fides.
The vessel was previously operated by a separate group company with its own operating organization. By the end of 2020, operations were returned to Østensjø Rederi.
The concept of Edda Accommodation was created by Østensjø Rederi in 2004.
The multipurpose platform supply vessel Edda Fjord was the first monohull vessel to provide offshore accommodation services when she in 2004 was reconstructed into an offshore accommodation vessel. She completed successful projects in both Nigeria and in the US Gulf.
The proven capabilities of a monohull accommodation vessel led to the building of Edda Fides- becoming the first vessel of its kind in the world. Edda Fides can accommodate 600 workers in a home away from home, providing hotel catering, recreation and modern cabins. She was the first vessel in the market to be equipped with an active heavy compensated offshore gangway system, including a telescopic adjustable pedestal. Being delivered in 2011, she has successfully completed projects worldwide.