Fugro Subsea and Forland Subsea II have agreed on the terms of the charter contract termination for the multipurpose offshore vessel MV Fugro Saltire.
The termination notice was delivered to Forland Subsea II by Fugro Subsea in August, 2017.
Under the terms of the termination the companies have agreed that Forland Subsea II will receive from Fugro a cash compensation and ownership to certain fixed equipment on the vessel.
According to Forland, the cash compensation should be paid in Q4 2017 and Q1 2018.
The MV Fugro Saltire, built in 2008, is a 111-meter vessel designed to meet both the current and predicted future demands of the trenching, remote intervention, construction and survey markets.