Siem Offshore has won a contract extension in Canada through its local subsidiary Secunda Canada.
The Oslo-listed company will send one of its largest platform supply vessels (PSVs) to replace the ship that is already serving an existing four-year contract with a major Canadian customer.
Siem’s partner has declared five annual options to mobilise the ship from the Siem fleet.
“This contract extension further demonstrates the stalwart Canadian entity’s long-term position in the Canadian offshore and Siem Offshore’s commitment to expansion into the region,” Siem said.
The Siem ship will be upgraded and then engaged in ice-management, tanker assistance and stand-by rescue operations.
Idar Hillersoy, chief executive of Siem, told TradeWinds this would not be a major upgrade.
The unnamed vessel will be enhanced to comply with local regulations in Canada, he added.
It will be supported by Secunda Canada’s local office. Siem took over Secunda in May 2016.
Siem’s extension comes hot on the heels of the disposal of the 4,300-dwt Siem Supplier (built 1999).
The Norwegian owner has also started negotiations with bondholders to force through a refinancing of $1.5bn of debt.
