DOF Subsea Extends Harvey Deep Sea Charter

DOF Subsea North America has extended the charter of the MPSV, Jones-Act-Compliant vessel, ‘Harvey Deep Sea’ until the end of 2018, plus two one-year options.

The Harvey Deep Sea is a multi-purpose DPII construction, supply, ROV vessel with 71 accommodation and 165 ton AHC crane
capable of reaching 3 000-meter water depth complete with integrated DOF Subsea’ work-class ROVs and survey spread.

The vessel started operation in August 2013, supporting operators in the GoM in their IMR and subsea construction endeavors.

The new agreement will allow DOF Subsea to continue to support the GoM subsea IMR and construction market with the flexibility and competitiveness required by the current market conditions.

The region has been awarded projects in the GoM, providing backlog of NOK 150 million and utilisation above 70% for the vessel through Q1 2018.

Mons S. Aase, DOF Subsea’s CEO, added: “The first quarter of 2017 in the North America region has been challenging, with low utilisation of Harvey Deep Sea and significant financial losses. I am happy that we now have a solid backlog for the vessel, and that the extended charter rate is in line with the challenging market conditions. We expect a significant improvement in the financial performance of the North America region going forward.”

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