A construction support vessel (CSV) owned jointly by Bourbon and Oceanteam has won a new contract with Fugro in Australia.
The CSV Southern Ocean (built 2010) will undertake subsea inspection, repair and maintenance (IRM) work when it commences the contract with Fugro in mid-May.
The vessel will start work immediately after completing its current employment, in which it has carried out subsea work in India for J Ray McDermott.
“We are well on our way to create a firm basis to grow the company on both the Shipping and Solutions part of the group. This contract award by Fugro re-affirms the appreciation of the capabilities of the Southern Ocean as a premium IRM vessel," said Keesjan Cordia, Oceanteam's chairman, in a release on Tuesday.
Oceanteam last year completed its restructuring and announced it had raised funds for future growth.
The Dutch OSV owner's shareholders in December approved the issuance of new stock worth NOK 188.27m ($22m) to support growth.
The same month, the company also secured a new loan worth $1.5m from large shareholder Corininvest for short-term working capital.
