Reach Subsea has entered into an agreement with Havila Shipping to extend the contract for the inspection, maintenance and repair (IMR), survey and construction vessel Havila Subsea .
The contract extension was awarded for a fixed period of two years and three months, starting on 1 October 2021 and ending on 31 December 2023.
According to the company, Reach Subsea has the option to extend the contract by one year until 31 December 2024.
Subsea services provider added that the commercial terms of the charter agreement are confidential between the parties and that the vessel has already been mobilised and part of its marketed fleet.
“We are experiencing positive market development across our segments, with continued busy tendering activity”, said Reach Subsea CEO, Jostein Alendal .
“In order to secure continued operational excellence, it is an important part of Reach Subsea’s strategy to co-operate with shipowners renowned for high-quality, safe and cost-efficient performance, which we have experienced first-hand when operating the Havila Subsea spread these past four years. We look forward to continuing our good cooperation with Havila Shipping in the years to come”.
In the company-related news, Reach Subsea recently revealed contracts with new, undisclosed clients in the renewables sector.
The projects involve both IMR and construction support work in multiple regions and will be performed by the Stril Explorer in co-operation with MMT, the Olympic Artemis , and a third-party vessel.