Olympic Shipping has entered into a frame agreement with Canyon Offshore for the joint marketing and subsequent operation of the subsea construction vessel Olympic Athene and Canyon’s ROV systems.

Under the agreement the companies will work together to secure utilization for the vessel and ROV systems and services with third party clients.

According to Olympic Shipping, the framework agreement will operate initially for six months, with the potential to become evergreen thereafter.

Under this agreement, the Olympic Athene, formerly known as Olympic Boa, has already started its first job in the U.S. Gulf.

To remind, in April, Olympic entered into a dispute with Boa Marine Services, following the early re-delivery of the vessel.

Stig Remøy, CEO of Olympic Shipping, said: “I am happy to see that we, together with Canyon Offshore, are able to set up a structure that offers our clients high quality vessel and ROV services.”

Ian Edmonstone, president Canyon Offshore, added: “We are also pleased to continue our long term relationship with Olympic Shipping and look forward to providing quality subsea project solutions to our Americas client base.”