Norway's Reach Subsea has exercised the one-year extension option under the charter agreement with compatriot Havila Subsea & Renewables, previously known as Volstad Maritime, for the subsea vessel Deep Cygnus.
The companies originally announced the four-year charter agreement in July 2022, revealing at the time that it includes an option to be extended for an additional year.
The extension will see the 122-meter-long vessel on charter with Reach Subsea through March 2028.
According to the Norwegian firm, the extension secures continued access to a vessel with ROV capability, crane capacity and deck space that is well suited for inspection, maintenance and repair (IMR), survey and light construction projects across the offshore energy and renewables sectors.