Edda Accommodation Finds Work for Edda Fides

Photo: Øyvind Sætre

Norway-based Østensjø Rederi’s Edda Accommodation has secured a new contract for the 2011-built Edda Fides offshore accommodation and service vessel with an undisclosed client.

“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,” Edda Accommodation said.

“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,” the company added.

Edda Fides, built in Spain in 2011, offers an accommodation capacity for 600 persons. The monohull vessel has a Kongsberg Dynamic Positioning System, certified to DP3 class.

In addition to securing a new contract, Edda Accommodation has entered into a refinancing agreement that will provide the company with more financial flexibility in the time ahead, it said.

“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.

 Photo: Øyvind SætrePhoto: Øyvind Sætre

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