Havila Shipping ASA has seen Maersk Oil & Gas (MOG) extend an option for a vessel, allowing the company to avoid the weak North Sea spot market for 12 more months.
Maersk Oil and Gas Company declared the first of three one year options for the Platform Supply Vessel (PSV) Havila Fortune.
The vessel was first contracted by Maersk in May 2014 and started its contract on August 1, 2014. With this first of three extensions declared the vessel will remain with Maersk Oil until August 1, 2016.
The contract includes a walk to walk system operated by a supplier. Havila has a fleet of 22 vessels, primarily made up of AHTS and PSVs.
Meanwhile, Shell has declared first optional period of one year for the PSV vessel Havila Borg currently working in West Africa. Havila Borg will work for Shell until July 2015 with further 3 optional years.
Commercial terms is based on existing contracts and for Havila Clipper based on market conditions.