Reach Subsea Takes Volstad's Deep Cygnus Vessel on a 4-year Charter
Subsea service provider Reach Subsea has chartered Volstad Maritime's offshore construction vessel Deep Cygnus for four years, with an option to extend for one year.
The vessel will be equipped with launch and recovery systems (LARS) and ROVs before the delivery to Reach Subsea.
Reach will mobilize the 122-meter vessel during February/March 2023 and use the vessel on its own projects within IMR (inspection maintenance and repair) and light construction within the oil & gas and renewables sectors. The financial details of the deal were not disclosed.
"This subsea spread is well suited for our core focus markets and has a good fit with the tenders we currently have outstanding," Reach Subsea said.
Battery installation on the vessel is scheduled for the winter of 2023/2024.
Jostein Alendal, CEO of Reach Subsea: "We have entered a phase of strong market development for subsea services, and with Deep Cygnus we are securing capacity for the coming years, during the transition to more unmanned operations with our Reach Remote concept.
"Deep Cygnus is a vessel that fits nicely into our focus markets. The vessel has a solid track record within the renewables segment, which we intend to use as a door opener for selling subsea services to the same clients. Volstad Maritime is a new supplier to us, but we have been very pleased with what we have seen so far on the vessel and within the organization."
February 2024
