Siem Offshore Ltd (OSE: SIOFF) received an additional charter contract from Petrobras for its Anchor Handling Tug Supply vessels (AHTS) Siem Ruby. The contract is for a firm period of four years with an approximate value around 100 million USD. Siem plans to become a major global operator of large ATHS vessels. It currently has 8 of those plus two that are owned by its pool partner.
The 2010 built Siem Ruby is designed for inspection and construction work as well as offshore industry support duties. The vessel will commence operations in Brazil in June. Before this contract four of Siem’s AHTS vessels operated on long-term contract in Brazil. Its total Brazilian fleet stood at eleven at the end of Q1 2011 and the region is a major focus area for Siem.
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