Olympic Shipping Charters Two Newbuild Vessels

Olympic Shipping has entered into charter agreement for two subsea support newbuilds to be delivered from Kleven Maritime in 2014 and 2015.

Both vessels have been awarded contracts for 3 years fixed with options of another 2 x 1 year.

The vessel Olympic Zeus is employed on a contract with Reef Subsea for a fixed period of 120 days + options. It will be engaged on project work at the Grane field for Statoil.

Total value of the fixed contracts part is close to NOK 800 mill. Incl. options the total value is approx. NOK 1.2 billion.

Olympic Shipping, March 3, 2014