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BW Offshore Buys VLCC from DK Maritime, Considering FPSO Conversion

Rob Almeida
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January 2, 2014

bw groupFloating production contractor BW Offshore announced today they have exercised a USD $83.4 million option to acquire the 320,000 dwt very large crude carrier (VLCC) Blue Opal (previously H Elephant) from DK Maritime, an offshoot of South Korea’s Daewoo Shipbuilding & Marine Engineering.  Blue Opal was designed and built by DSME in 2012 and originally ordered in 2007 by bankrupt Taiwanese shipowner Today Makes Tomorrow (TMT).

BW Offshore notes in their stock filing today they are “evaluating several FPSO projects suitable for the vessel.”

Blue Opal‘s sister vessel, Blue Jade, was sold last year to an undisclosed buyer for $74 million.

With a fleet of 14 FPSOs and 1 FSO, BW Offshore is the world’s second largest contractor of floating production vessels globally.

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