‘Southern Star’ Bucks the Trend With Six Year Contract
The new build Subsea Operations Vessel ‘Southern Star’ has today commenced a six-year bareboat charter, an increase of a year on the original deal, with options for extensions. The charter is in contrast to current industry norms which have seen length of charters reduced in the current ‘difficult’ market. Singapore-based Tasik Subsea designed the vessel “Southern Star” and supervised its on-time and on-budget build by Fujian Mawei Shipbuilding Ltd in Fuzhou, China, at their new state-of-the-art Culu Island shipyard, and have worked very closely with the charterers to ensure they have a technically advanced, cost-effective vessel.
Tasik managing director John Giddens said:
‘The market is difficult with economic challenges at every tier, no one needs telling that. But, by working to ensure the operator has an outstanding and reliable vessel that can be operated competitively and flexibly, both parties saw the economic sense in extending the charter period from five to six years in exchange for adjusted rates during some of the firm charter period.’
The 112 metre, DP3, 135 man POB, Saturation/Air Dive and ROV operations vessel is the most advanced IACS Classed Diving Support Vessel ever built in China for export and complies with the latest IMCA Codes of Practice and industry safety standards.
The ship, which features two moon pools and has a 300 metre rated, 15 man saturation diving system, with two self-propelled hyperbaric lifeboats and has a 150 tonne, active heave compensated crane.
Its ROV hangar can house two deep-water, construction class vehicles, and the DP3 rated vessel’s diesel-electric propulsion system is supplied by ABB with VOITH main thrusters providing additional capability including active roll compensation, and Rolls Royce bow thrusters.
This article was originally published on Marine & Industrial Report newspaper Vol 39 No.4 Issue last August 31, 2017.
