30-05-2007 Siem Offshore Contractors has entered into a charter agreement with Siem Offshore for the CLV Siem Carrier for a 3-year firm plus two (2) 1-year optional extension periods.
As part of the charter agreement, the CLV Siem Carrier will undergo the following upgrade in October 2007 prior to delivery to Siem Offshore Contractors:
The CLV Siem Carrier will be upgraded at a mutually agreed ship yard in the North Sea area, whereby Siem Offshore Contractors will install all cable handling and installation equipment during the same period as the MV Siem Carrier will undergo conversion. The conversion is planned to commence as of end of September / beginning of October 2007 and is scheduled to take four (4) weeks.
After conversion, the CLV Siem Carrier will be able to undertake the following tasks: