Norwegian subsea services company Reach Subsea has exercised the option to charter the subsea support and construction vessel Olympic Triton vessel for three years plus two yearly options, including the six months charter announced in February.
Olympic Triton is a multifunctional subsea vessel with a 150 tons crane and a large accommodation and deck capacity, which, Reach Subsea said, is suitable to meet Reach Subsea’s clients' requirements within both the renewable energy and oil and gas sectors.
Reach Subsea has already utilized the vessel for a project started in the first quarter 2023, for a renewable energy company in North West Europe.
“We are impressed with the performance of the vessel and the marine management from Olympic, and we are very happy to further build on our long-standing fruitful cooperation. The structure of the contract implies limited risk and a good upside for both Reach Subsea and Olympic and includes a portion of profit sharing between the two parties,” said Jostein Alendal.