Highlights of the Week
- Business & Finance
Subsea World News has put together a recap of the most interesting articles from the previous week (February 20– February 26).
Forland Subsea and EMAS AMC have entered into a standstill agreement for the duration of the short-term charter.
The expected charter period is about three weeks and the vessel will start working this week, the company informed.
The vessel name was changed from “Ceona Amazon” to “Amazon”.
The Amazon is en-route to the Middle East and is scheduled to arrive in early March.
The agreement, signed in Amsterdam, is part of the option included in the construction contract for the pipeline’s first string, which was signed in 2016.
The proceeds raised from this facility should be utilised to partially refinance its wholly-owned subsidiary’s, SapuraKencana TMC existing borrowings.
The contract is planned to start in March.
Skandi Olympia, a DP2 vessel capable of conducting construction support activities worldwide, has been on charter with Fugro Subsea Services since 2009.