DOF Subsea North America has received an extension of the charter of the Harvey Deep Sea multipurpose service vessel (MPSV) until the end of 2018, plus two one-year options.

The new agreement will allow DOF Subsea to continue to support the Gulf of Mexico subsea IMR and construction market with the flexibility and competitiveness required by the current market conditions.

The region has been awarded projects with key clients in the GoM, providing backlog of US$17.8 million (NOK 150 million) and utilization above 70% for the vessel through Q1 2018.

“The first quarter of 2017 in the North America region has been challenging, with low utilization of Harvey Deep Sea and significant financial losses. I am happy that we now have a solid backlog for the vessel, and that the extended charter rate is in line with the challenging market conditions. We expect a significant improvement in the financial performance of the North America region going forward,” says Mons S. Aase, DOF Subsea CEO.

The Harvey Deep Sea is a multi-purpose dpii construction, supply, ROV vessel with 71 accommodation and 165 ton AHC crane capable of reaching 3000m water depth complete with integrated DOF Subsea work-class ROVs and survey spread.

The vessel started in August 2013, supporting most of the key operators in the GoM in their IMR and subsea construction endeavors. The project track record and safety performance achieved by the entire crew, makes Harvey Deep Sea one of the most requested Jones Act vessels in the GoM, says DOF.

Source: www.oedigital.com