DOF Subsea North America extends charter for Jones Act Compliant vessel Harvey Deep Sea

By Vessels

DOF Subsea North America announced on Friday the extension of 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 Vessel 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 commenced operation in August 2013, supporting most of the key operators in the GoM in their IMR and Subsea Construction endeavors. The project track record and safety performance achieved by the entire crew, makes Harvey Deep Sea one of the most requested Jones Act vessels in the GoM.

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 with key clients 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 Chief Executive Officer, 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."

Source: DOF Subsea