Reef Subsea ink pacts for subsea construction vessels

18 November 2011: Reef Subsea AS has signed two five-year charter agreements for two newly-built dynamically positioned subsea construction vessels - Neptune Despina and Neptune Larissa - from Neptune Offshore AS. Simultaneously Neptune Subsea AS, the ship owning company of the vessels, welcomes Reef Subsea as a 25% shareholder. Both vessels have been recently delivered to Neptune Offshore and should be transferred to Reef Subsea by mid-January 2012.

The sister ships which will be renamed Reef Despina and Reef Larissa are newlybuilt IMR and Subsea Construction vessels. Designed with the Ulstein X-Bow, they have a faster transit speed in head seas, and enjoy reduced fuel consumption. The design also provides several advantages in the foreship and on the working decks making the vessels more environmentally and work friendly. Both vessels are expected to work in the North Sea and in Europe to deliver Projects sanctioned by Clients from both the Oil & Gas and the Renewable Energy industries.

Source: yourindustrynews