Reef Subsea Wins Charter Agreements for IMR-Vessels from Neptune Offshore

Reef Subsea AS announced that they have signed two five-year charter agreements for two newly-built dynamically positioned subsea construction vessels – Neptune Despina and Neptune Larissa – from Neptune Offshore AS. The IMR-vessels are of ULSTEIN design type SX130.

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 newly-built 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.

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Offshore Nieuws Staff , November 16, 2011; Image: Ulstein Group