Norwegian vessel owner and operator Golden Energy Offshore Services (GEOS) has completed the sale of its 2016-built platform supply vessel (PSV), announced earlier this month.
GEOS announced on March 12 that its subsidiary Energy Passion AS had signed a binding sales agreement for the PSV Energy Passion for a gross sale price of $28 million.
The Norwegian company reported today, March 31, that the sale had been completed. It is anticipated to result in a booked gain of around $5.4 million, generating net proceeds after repayment of the lease, break fees, and transaction costs of about $14 million.
The PSV is of Ulstein PX121 design and was built in 2016 by Cosco Guangzhou Shipyard.
This follows GEOS’ commitment to a near-term sale of a minimum of two vessels in December 2025, subject to market conditions, alongside the sale of the PSV Energy Empress and the PSV Energy Partner in January 2026.