DOF Subsea confirms charter extension for Harvey Gulf’s MPSV

  • Business & Finance

Following Harvey Gulf’s announcement earlier this week, DOF Subsea North America has confirmed the extension of the charter of the MPSV Harvey Deep Sea.

The contract for the Jones Act Compliant vessel was extended until the end of 2018, plus two one-year options, DOF Subsea said on Friday.

The Harvey Deep Sea Vessel is a multi-purpose DPII construction, supply, ROV vessel with accommodation for 71 and 165 ton AHC crane capable of reaching 3 000-meter water depth complete with integrated DOF Subsea’ work-class ROVs and survey spread.

The company noted that the vessel started operation in August 2013 supporting most of the key operators in the Gulf of Mexico in their IMR and subsea construction endeavors.

The new agreement will allow DOF Subsea to continue to support the GoM subsea IMR and construction market.

The region has been awarded projects with key clients in the GoM, providing backlog of NOK 150 million and utilization above 70% for the vessel through 1Q 2018.

Mons S. Aase, DOF Subsea’s Chief Executive Officer, added: “The first quarter of 2017 in the North America region has been challenging, with low utilization of Harvey Deep Sea and significant financial losses. I am happy that we now have a solid backlog for the vessel, and that the extended charter rate is in line with the challenging market conditions. We expect a significant improvement in the financial performance of the North America region going forward.”

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