James Fisher and Østensjø Rederi ink seasonal vessel charter agreement

James Fisher and Østensjø Rederi ink seasonal vessel charter agreement

UK’s James Fisher Subtech (JF Subtech) has signed a seasonal charter agreement with Norwegian vessel operator Østensjø Rederi for the exclusive use of its inspection, repair and maintenance (IRM) and construction vessel.

James Fisher

The agreement will see the Edda Savanah mobilized in April for work in the North and Irish Seas on IRM projects, using remotely operated vehicles (ROVs) and multiple diving methods.

According to JF Subtech, the charter comes as the UK’s offshore energy industry faces supply chain crunches, allowing the company to be agile and responsive to customers’ changing needs at a time when vessel availability within the industry is constrained.

Edda Savanah was built in 2017 and is currently undergoing internal reconfiguration, which will be completed by the end of March. It is around 97 meters long and has DP2 capabilities, an onboard capacity for 100 passengers while remaining SPS compliant, and has also been equipped with a daughter craft.

The vessel will be fitted with a James Fisher-owned work-class ROV, observation class ROVs and an air dive spread, as well as benefitting from a 150-tonne crane.

“James Fisher Subtech is proud to be able to continue to support the UK offshore energy sector with the confirmation of the Edda Savanah for the 2023 season. It is important to us that we play our role in ensuring the self-sufficiency of the sector and having all the necessary equipment ready to go from the start means we are able to mitigate some of the price and supply chain challenges that the industry is currently facing,” said Mike Bailey, Asset and Operations Director at JF Subtech.

“Furthermore, this agreement means we can continue to pass on the commercial benefits to our customers, and ensure all of our operations are as efficient as possible, reducing mobilisation time and cost.”

The agreement also brings the potential opportunity for use of the vessel by other James Fisher group companies during the season.

Speaking about the most recent company-related news, at the end of 2022 James Fisher and Sons announced it was selling the Subtech Swordfish dive support vessel (DSV) for a cash consideration of $24 million.

The sale agreement allows for James Fisher to maintain access to the DSV until the end of Q3 2023, enabling it to complete existing and potential customer commitments.