S.D. Standard Drilling is acquiring three platform supply vessels (PSVs) from Volstad Shipping, according to the former.

Volstad Viking, Volstad Supplier and Volstad Princess, are all large PSVs built at Aker Brattvaag, Norway in 2007 and 2008 and come at a total cost of US$40m.

To help fund the deal, the company will sign a 6-month revolving credit facility with parent company Saga Tankers for US$10m.

Following the acquisition, which is forecast to be wrapped up this February, the company will control a fleet of 10 Norwegian-built PSVs.