Olympic Shipping secures contracts for Subsea Support newbuilds

Olympic Shipping has secured contracts for two of its 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 company, based in Norway, did not reveal more details on the agreements.

Separately, the company said that the Olympic Zeus vessel 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 $132 million. Including options, the total value is approximately $200 million.