Ocean Installer Hires SOFF’s Construction Vessel ‘Normand Mermaid’ (Norway)

Solstad Offshore ASA (SOFF) has signed a contract with Ocean Installer AS (OI.II) for hire of SOFF’s offshore construction vessel (CSV) “Normand Mermaid”.

The duration of the contract is firm for 5 years with further 5 x 1 year option and it commences on the 1st March 2013.

The contract value is confidential between the parties, but gives SOFF an acceptable return on its investment.

“Normand Mermaid” is a medium sized CSV built in 2002. The vessel is well suited for subsea construction work in both deep and shallow waters.

Ocean Installer is a subsea construction company based in Stavanger, Norway. O.II is 100% owned by HitecVision.

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Source: SOFF, March 30, 2012