Topaz Energy and Marine (“Topaz”), a leading offshore marine logistics company, has signed a substantial agreement with a large north European contractor. The contractor will charter Topaz’s newbuild subsea vessel, Topaz Tangaroa, for work on renewable energy projects, primarily in support of offshore wind farms in the southern North Sea. The contract underlines the growing significance of offshore wind projects to Topaz.
The charter contract will take effect from February 2019 for a firm duration of seven months, with options to extend to late 2020. The agreement reflects market terms.
The Topaz Tangaroa, which was ordered in 2015 as part of an ongoing fleet renewal and reinvestment strategy by Topaz, is a 1,000m², diesel-electric light subsea construction vessel with 82 pax accommodation in comfort class 3, equipped with an AHC 120-tonne subsea construction crane. The vessel is built to the highest North Sea standards, with world-class station keeping and fuel economics.The Topaz Tangaroa and its sister vessel, the Topaz Tiamat, were both designed with, and built by, VARD Norway.
The charter adds to Topaz’s industry-leading revenue backlog, which as of 30 September 2018 stood at US$1.4 billion.
