SeaHold GEOSHIPS Ltd has taken delivery of its second multi purpose support vessel (MPSV) on a contract valued at over £30 million, following a successful year for its current vessel, the Stril Explorer.

Formed in 2003, Aberdeen-based GEOSHIPS will manage and crew the MPSV Loch Roag vessel, which it has taken on a five year bareboat charter basis from Otto Marine Ltd. The contract is valued at around £22 million (US36.5 million) over five years, with an option to extend the contract for two more years, bringing the potential value of the contract to nearly £33 million (US$ 52.4m).

As part of the bareboat charter for Loch Roag, GEOSHIPS has the option to buy the vessel at various stages during the agreement. It is a Norwegian design, Marin Teknikk (MT) 6009L MKII Vessel, built by Otto Marine Ltd in the Indonesian Shipyard Batamec and is suitable for work in a variety of areas, including the North Sea, Mediterranean, West Africa and Asia Pacific.

Tags: SeaHold GEOSHIPS Ltd