Oaktree-backed Harkand charters HOS OCV

MARCH 31, 2014 — IRM, survey and light construction contractor Harkand has entered into a charter agreement with Hornbeck Offshore for the Jones Act qualified offshore construction vessel HOS Mystique for a firm period of two years plus options.

The 250 ft (76.2 m) DP2 vessel has a 70 MT AHC crane and will be outfitted with a Harkand Triton XLS ROV to support IRM and survey work in water depths up to 3,000 m in the Gulf of Mexico.

Ashit Jain, North America managing director for Harkand said: "This strategic addition to our growing fleet gives us the additional flexibility required to address our clients' IRM, survey and light construction needs. The HOS Mystique will join the Harkand fleet in April followed closely by the Siem Spearfish with a 250 MT crane in May. Addition of a fourth asset to our fleet shows our commitment to the Gulf of Mexico."

Headquartered in London, Harkand was formed in 2013 through the merger of Iremis, Integrated Subsea Services (ISS), Andrews Survey and Veolia Marine Services, following an investment by Oaktree Capital Management.

Employing 1,000 people at bases in Aberdeen and London in the U.K., Sharjah in the Middle East, Singapore and Perth in Asia Pacific and Houston, the company aims to grow turnover to $1billion in the next four years.

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