Siem Offshore Secures Charter for ‘Siem Stingray’

  • Business & Finance

Siem Offshore has entered into a bareboat charter agreement with an international subsea contractor for the offshore subsea construction vessel “Siem Stingray”.

According to the Oslo-listed vessel owner, the contract is for a firm period of 2 years with options.

The vessel should start operation during first quarter 2018.

The commercial terms among the parties have not been disclosed.

To remind, Subsea 7 charted the vessel in 2014 for a firm period of three years with two yearly options.

The 121 meters long Siem Stingray is designed for subsea operation duties such as construction and installation work, inspection and maintenance, capable of operating in depths up to 3,000 meters.

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