Siem Offshore OSCV gets two year bareboat charter

Siem Stingray Siem Stingray

OCTOBER 30, 2017 — Siem Offshore has entered into a bareboat charter agreement with an international subsea contractor for the Offshore Subsea Construction Vessel Siem Stingray for a firm period of two years, with options.

The vessel will commence operation during first quarter 2018.

Delivered in 2014, the 120.8 m Siem Stingray is an STX OSCH 03 design DP2 vessel with accommodations for 110. With a cargo deck area of 1,300 sq.m, it has a 250 t AHC, 3,000 m offshore subsea crane and a 7.2 m x 7.2 m ROV moon pool.

The Siem Stingray is designed for subsea operation duties such as construction and installation work, inspection and maintenance.

Bergen, Norway, based Swire Seabed is the charterer of the vessel and will rename it Swire Stingray.

The contract will see Swire Seabed operate the vessel in the IMR, construction support and renewable sectors, with a particular focus on North European and West African markets. Siem Stingray was formerly working in the GoM for Subsea 7, executing the BP IMR & Light Construction Frame Agreement.

"While the market environment remains challenging, Swire Seabed continues to invest in new technology, assets, and is increasing capacity in engineering, survey and project execution. This bareboat charter increases the scale and flexibility of Swire Seabed's fleet, and expresses our confidence in the quality of our service portfolio and the resilience of our clients in the subsea industry," says CEO, Swire Seabed, Arvid Pettersen.

Want more? Subscribe now!

Join Marine Log's Email List



News from NASDAQ