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Topaz bags renewables charter contract for subsea newbuild

Dubai-headquartered Topaz Energy and Marine has inked a charter in renewable energy for its lastest subsea newbuilding.

Topaz has chartered the newbuild subsea vessel Topaz Tangaroa to an undisclosed north European contractor for seven months firm duration for work primarily in supporting offshore wind farms.

The contract which starts in February 2019 includes options that take it through to late 2020.

The rate for the charter was not disclosed but described reflecting “market terms”.

The Topaz Tangaroa is s a 1,000 m sq , diesel-electric light subsea construction vessel with 82 pax accommodation in comfort class 3, equipped with an AHC 120-tonne subsea construction crane, and built and designed by Vard in Norway. The yard also built sister vessel Topaz Tiamat which is on long-term contract to Reach Subsea.

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“The contracts reflect the trends we are seeing with both general subsea operators and offshore wind project owners becoming increasingly selective and demanding innovative, safer and more efficient vessels,” said Rene Kofod-Olsen, ceo of Topaz Energy and Marine.

“This significant contract is a testament to Topaz’s strategic, counter cyclical investment into a growing subsea segment and our ability to deliver the prerequisite technology and safety capabilities our clients increasingly require.”

As of 30 September this year Topaz had a revenue backlog of $1.4bn.

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