Norway’s Solstad Maritime has secured a charter party agreement extension with compatriot marine construction and operations player Ocean Installer, part of the Moreld Group, for an advanced multi-purpose offshore construction vessel built in 2014.
Solstad Maritime announced today, October 29, the first optional one-year contract extension for the 157-meter-long Normand Vision with Ocean Installer , in direct continuation of the current agreement, securing operations through the end of 2027.
The agreement has also been amended to include another annual option and now includes two annual options, for 2028 and 2029.
Furthermore, the parties have included a mechanism that could allow for further extension of the contract until 2031.
“Over the last decade Normand Vision and her crew has served us well. We have used Normand Vision in the SURF, mooring, IRM, renewables and decommissioning markets, and successfully executed projects all around the globe. We look forward to continuing our strong relationship and collaboration with Solstad,” said Kevin Murphy , Ocean Installer CEO.
The high-capacity construction support vessel (CSV) is built for heavy construction work and is purpose-built for subsea umbilicals, risers and flowlines (SURF) operations in demanding conditions.
“With this extension, Ocean Installer can sustain support for their current operations and it positions them to take advantage of emerging opportunities across global energy markets,” said Geir Austigard , CEO of Moreld.