EuropeOffshoreRenewables

Reach Subsea charters Olympic MPSV for offshore wind contract

Oslo-listed Reach Subsea has chartered in a multipurpose supply vessel (MPSV) from compatriot owner Olympic to cover an upcoming project in the offshore wind sector.

The Haugesund-based company has won a contract from an undisclosed renewable energy major to provide wind-related services for six months firm with extension options attached to the deal.

The 2007-built Olympic Triton has been selected for the job, expected to commence in the first quarter of 2023. Reach has the option to extend the charter for up to five years, with three years firm, within a four-week period from signing.

“The market for subsea services is strong and Reach Subsea has recently taken significant steps in order to secure increased and cost-efficient vessel capacity for the coming years. The Olympic Triton is a modern and versatile vessel which will be an important add-on to our fleet. The structure of the contract implies limited risk and a good upside for Reach and our partners,” explained Jostein Alendal, CEO of Reach Subsea.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
Back to top button