End of contract for Volstad’s IMR vessel

Volstad Shipping, a Norwegian shipping company, has received notice of termination of the charter party for MV Volstad Surveyor from DeepOcean, a subsea services provider. 

According to the charter party the contract period would expire September 30, 2016.

In an Oslo Stock Exchange filing on Monday, the company said it strongly disagrees with DeepOcean and it has in consultation with its legal advisors rejected the termination as without merits.

Volstad Shipping will now consider the implications of the termination for the company and claim damages from DeepOcean for all relevant losses, the shipping company said.

The Volstad Surveyor is Volstad’s second inspection, maintenance and repair (IMR) vessel of ST-253 design. The 85,3 m long vessel was delivered to its owner in 2010.

It is a multi-purpose DP II vessel, with a working platform for performing hull and ROV based seabed mapping and surveys, structural inspection and construction support operations.

The vessel was working for DeepOcean and the Norwegian oil company Statoil in the North Sea.

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