Singapore’s Tasik Subsea has announced a new long-term charter for its subsea operation vessel Southern Star.
The vessel, which has just completed a docking and survey at Keppel Shipyard, will go on a five-year bareboat charter to Australia’s Shelf Subsea. It will head to New Zealand first up for a decommissioning project for TUI, and is then expected to spend the rest of the year operating in Brunei.
John Giddens, CEO of Tasik Subsea, said: “We are pleased that Shelf Subsea show their continued confidence in the Southern Star and wanted to commit to operating it for a further five years. They’ve been good custodians of our vessel and the negotiations to extend our relationship were carried out in a professional manner in which an agreement that works for both sides was quickly arrived at.”
Southern Star has been contracted with Shelf Subsea since May 2019. The vessel was made available after Fugro terminated a six-year charter for the vessel less than two years into the contract. The Dutch company was later ordered to pay $26.8m compensation to Tasik by an arbitration tribunal.