Singapore’s Tasik Subsea has introduced a brand new long-term constitution for its subsea operation vessel Southern Star.
The vessel, which has simply accomplished a docking and survey at Keppel Shipyard, will go on a five-year bareboat constitution to Australia’s Shelf Subsea. It is going to head to New Zealand first up for a decommissioning mission for TUI, and is then anticipated to spend the remainder of the 12 months working in Brunei.
John Giddens, CEO of Tasik Subsea, mentioned: “We’re happy that Shelf Subsea present their continued confidence within the Southern Star and needed to decide to working it for an additional 5 years. They’ve been good custodians of our vessel and the negotiations to increase our relationship have been carried out in knowledgeable method through which an settlement that works for each side was rapidly arrived at.”
Southern Star has been contracted with Shelf Subsea since Might 2019. The vessel was made out there after Fugro terminated a six-year constitution for the vessel lower than two years into the contract. The Dutch firm was later ordered to pay $26.8m compensation to Tasik by an arbitration tribunal.