The motivation: the four-year old wellboat company is out after ramping up activity in Norway.
“We also have projects underway elsewhere in the world. Although Norway is the principal market, it’s where we have least activity. We intend to intensify our focus on Norway hereafter,” Intership CEO Ole Peter Brandal told SalmonBusiness.
– A mathematical calculation
The news broke Friday that Norsk Fisketransport is selling two wellboats, “Dønnalaks” and “Viktoria Viking” for 191 million kroner, to Intership. Three days later this was followed up by an announcement that Nordlaks is selling “Bjørg Pauline” to the same wellboat company.
“You could say it’s a bit of the ketchup effect here (Norwegian saying that means everything comes at once after a long period of work). It maybe appears slightly more ambitious than it is. We contracted “Viktoria Viking” and “Dønnalaks” already 18 months ago,” said Brandal.
Intership’s reason for now investing in these vessels is because it is more profitable in the long run than leasing. Brandal declined to divulge the price they are paying on “Bjørg Pauline”, instead saying:
“It’s a mathematical calculation that justifies the transaction”.
Option on purchasing
Intership was established four years ago, and currently has seven vessels in operation. “Roy Kristian”, “Christine”, “Inter Caledonia” and “Lady Anne Marie” (due for delivery in October) are not owned by the company(long-term time charter contracts), but it has the option to buy “Inter Caledonia”.
“Re “Inter Caledonia”, we plan to take up that option at a later date. In itself it is not an objective to own the vessels, but to achieve sound, profitable operation of these,” Brandal told SalmonBusiness.
Ambitiously on the offensive
“We are engaged in many projects. This is not the end of the road for us here,” he stressed.
“Dønnalaks”, “Roy Kristian” and “Viktoria Viking” will be operating in Canada, “Inter Caledonia” in Scottish waters, while “Bjørg Pauline” and “Christine” will operate in Norway. The same will apply to “Lady Anne Marie” when it is delivered in October.