Olympic Enters into Frame Agreement with Canyon Offshore

Olympic Shipping has entered into a frame agreement with Canyon Offshore for the joint marketing and subsequent operation of the subsea construction vessel Olympic Athene and Canyon’s remotely operated vehicles (ROVs). The agreement will see the companies work together to secure utilisation for the vessel and Canyon Offshore’s systems and services with third party clients. It will operate initially for six months, with potential to extend. Olympic Athene has commenced its first job with a third party client in the Gulf of Mexico under the agreement.

Olympic Shipping chief executive Stig Remøy said: "I am happy to see that we, together with Canyon Offshore, are able to set up a structure that offers our clients a high quality vessel and ROV services.” Ian Edmonstone, president, Canyon Offshore, said: "We are also pleased to continue our long-term relationship with Olympic Shipping and look forward to providing quality subsea project solutions to our Americas’ client base.”