Listed on Nasdaq OMX in Stockholm, Viking Supply Ships (VSS), a vessel owner and operational manager with a core business in the offshore and offshore/icebreaking segment, is getting ready to equip its fleet of ice-classed anchor handling tug supply (AHTS) vessels with the installation of four 100-ton heave-compensated offshore cranes.
While disclosing a contract to upgrade four AHTS with subsea cranes, Viking Supply Ships confirmed the total investment for the work is estimated to be around $50 million, which is expected to be financed with cash on hand and an existing credit facility.
The scope of work for the project encompasses some modifications on certain vessels, including building remotely operated vehicle (ROV) hangars and installing launch and recovery systems for ROVs.
According to the vessel owner, the advanced cranes will enhance vessels’ capabilities, positioning them to meet the increasing demand within the subsea sector.
Furthermore, the upgrades are expected to enable the ships to handle wider assignments across the oil and gas industry and renewable energy projects, including offshore wind.
The cranes are slated for delivery at the beginning of July 2026 and are due to be phased in thereafter.
Two months ago, Norway’s Sea1 Offshore set its cap on taking over the management operations of six AHTS vessels, owned by Viking Supply Ships.
Recently, the Norwegian vessel operator won work for three AHTS vessels , one of which will come from Viking Supply Ships.