Reach takes Havila Shipping vessel for three years

JANUARY 23, 2016 — Haugesund, Norway, headquartered Reach Subsea has entered into an agreement with Havila Shipping ASA for use of the subsea vessel Havila Subsea for three years. The agreement also includes two one-year extension options.

The 98 m Havila Subsea is a Havila 855 design vessel delivered by the Havyard Leirvik shipyard in 2011.

Reach will mobilize its own ROV and survey equipment on board, constituting a subsea spread that will be used on IMR, survey, light construction and renewables projects. The subsea spread is expected to be ready for operation during March 2017.

CEO Jostein Alendal, says: "We are pleased to be able to offer another quality subsea spread to our clients, with a vessel that fits nicely into our focus markets. An important part of our operational strategy is to co-operate with shipowners renowned for high quality performance, and we look forward to co-operate with Havila in the years to come. With a successful private placement recently completed, providing Reach with NOK 85 million in growth capital, this move represents an important step towards executing our renewed growth strategy."

Havila Shipping CEO Njål Sævik, says: "We are pleased to be awarded this contract for one of our vessels in a challenging market, and see this as an acknowledgement of Havila Shipping as a high quality operator and shipowner. We look forward to co-operate with Reach Subsea in the years to come."

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