Singapore’s Tasik Subsea has seen its newbuild diving support vessel Southern Star commence a six-year bareboat charter with Fugro today.
The six-year charter, an increase on the originally agreed five years, also includes extension options.
John Giddens, managing director of Tasik, commented: “The market is difficult with economic challenges at every tier, no one needs telling that. But, by working to ensure the operator has an outstanding and reliable vessel that can be operated competitively and flexibly, both parties saw the economic sense in extending the charter period from five to six years in exchange for adjusted rates during some of the firm charter period.”
Built at China’s Fujian Mawei Shipbuilding, the vessel was built with economy in mind and from the design stage was specified as fit for purpose.
Tasik Subsea was formed in 2014 by Giddens and M3 Marine’s Mike Meade.