Ocean Installer Extends Charter-Party for North Sea Giant Vessel
Ocean Installer, a subsidiary of Moreld, has announced the extension of its charter-party with ship owner North Sea Shipping for the advanced multi-purpose offshore construction vessel, North Sea Giant. The charter has been extended for an additional 18 months, taking it through the end of the first quarter of 2027.
This extension comes in response to the continued strong demand for offshore construction capacity and to meet contractual obligations. The agreement includes an option that covers an 18-month period starting from the fourth quarter of 2025. Additionally, the parties have agreed on a new 18-month option at the end of the charter-party, extending the charter-party options to the fourth quarter of 2029.
Kevin Murphy, CEO of Ocean Installer, stated, “The new agreement ensures continuity and support for ongoing operations, as well as future projects, enhancing Ocean Installer’s operational capabilities and flexibility across various regions. North Sea Giant will be utilized for secured work and new prospects in both the North Sea and international waters.”
North Sea Giant is a modern advanced multi-purpose offshore construction vessel equipped with a DP3 system and a hybrid battery system for fuel efficiency. The vessel features a large deck, a 400Te active heave compensated crane, and two work class ROVs, making it suitable for global construction operations. In 2024, an Ocean Installer-owned 150te VLS was mobilized on the vessel, enabling flexible pipe and umbilical lay operations in deeper waters.
Murphy further added, “We are very pleased with the performance of the North Sea Giant and the ongoing cooperation with North Sea Shipping. The vessel has been continuously working since we took her on charter in early 2024. This charter-party extension reflects our shared commitment to delivering high-quality services in the years to come, and we look forward to building an even stronger relationship with North Sea Shipping.”