Siem and Harkand Enter Charter Agreement for OSCV ‘Siem Spearfish’

Siem Offshore and the Harkand have entered into a charter agreement for the Offshore Subsea Construction Vessel (OSCV) “Siem Spearfish”, which is under construction in Norway.

The agreement is made at market terms and is for a firm period of five years with three yearly options. The charter shall commence in May 2014 following delivery of the vessel from the Norwegian yard.

The vessel will support the development of the Harkand group in the provision of inspection, repair and maintenance (IRM) services in the deep water Gulf of Mexico.

The Siem Spearfish is designed for subsea operation duties such as construction and installation work, inspection and maintenance. The vessel is of clean design, has particularly good seakeeping abilities, station keeping performance and is able to keep a high transit speed. It is environmental friendly with focus on low fuel consumption through its diesel electric machinery. The vessel is classed according to SPS 2008 and Clean Design.

Siem Offshore, November 22, 2013

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