Reach Subsea Bolsters Fleet After Securing Offshore Wind Service Contract

Norway-headquartered Reach Subsea has chartered a multipurpose supply vessel (MPSV) from compatriot Olympic Subsea to deliver offshore wind-related services to an undisclosed renewable energy client.

Reach Subsea won a contract from a major renewable energy company to provide wind-related services for six months with options to extend the deal.

The Norwegian company selected the MPSV Olympic Triton for the job which features a 150-tonne crane and a large accommodation and deck capacity.

The vessel will be delivered in the first quarter of 2023 in conjunction with the start-up of the renewable energy contract, Reach Subsea said.

Further, the company has the option to extend the charter for up to five years, with three years firm, within a four-week period from signing.

“The market for subsea services is strong and Reach Subsea has recently taken significant steps in order to secure increased and cost-efficient vessel capacity for the coming years”, said Jostein Alendal, CEO of Reach Subsea.

“The Olympic Triton is a modern and versatile vessel which will be an important add-on to our fleet. The structure of the contract implies limited risk and a good upside for Reach and our partners.”

Olympic Triton vessel was built in 2007 and is equipped with diesel-electric machinery which ensures low noise levels and low fuel consumption, according to Olympic Subsea.

Back in 2018, Reach Subsea entered into an agreement with Olympic Subsea for the use of the vessel Olympic Challenger for two years, with an option to extend the charter for one more year.

In November 2021, the company entered into a new agreement with Olympic Subsea for the vessel and said Olympic Challenger would commence operations under the new contract during the first quarter of 2022 and that it would be redelivered in the fourth quarter of this year.

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