Norwegian vessel proprietor Solstad Offshore has been awarded a long-term contract for its platform provide vessel with “a significant worldwide firm” in Australia.

Solstad stated on Thursday that the contract was awarded to the PSV Normand Skimmer.

The vessel has been contracted for a interval of 5 years plus choices to assist operations offshore North-Western Australia from the fourth quarter of 2020.

During the marketing campaign, the vessel will function from Dampier, servicing manufacturing actions within the area.

The Normand Skimmer is a PSV of an 08CD design in-built 2012.

Solstad has not launched any additional particulars in regards to the contract.

Normand Maximus termination

Solstad Offshore has lately acquired a discover of early termination of the constitution celebration for the Normand Maximus vessel from Italian offshore contractor Saipem.

In a separate replace on Thursday, Solstad stated that the time constitution for Normand Maximus entitled Saipem to terminate the constitution celebration for comfort in opposition to cost of an early termination price to Solstad’s subsidiary Normand Maximus Operations Limited as a disponent proprietor of the vessel.

The discover interval for the termination below the time constitution is 45 days which means that the termination of the time constitution shall be efficient and the vessel redelivered on or round 2 November 2020.

The termination price is within the quantity of roughly $44 million.

Normand Maximus is financed below a monetary lease between Maximus Limited because the proprietor and the SOFF subsidiary as bareboat charterer.

Solstad holds a 25 per cent possession share within the leasing firm Maximus Limited.

The monetary lease is assured by Solstad and contains customary prepayment occasions and default provisions. These could i.a require the Solstad subsidiary to buy the vessel if the subsidiary isn’t in a position to safe new employment for the vessel.

Solstad stated it expects that the vessel shall be engaged on new tasks inside an inexpensive time.

The firm and its subsidiary are exploring the market alternatives and Solstad is now partaking in dialogue with the leasing firm Maximus Limited with a view to agreeing on an answer for the monetary lease making an allowance for the early termination by Saipem.

The submit Solstad vessel wins five-year job in Australia appeared first on Offshore Energy.

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