Olympic Shipping has entered into a frame agreement with Canyon Offshore, Inc. for the joint marketing and subsequent operation of the subsea construction vessel Olympic Athene and Canyon’s ROV systems, which will see the companies work together to secure utilization for the vessel and Canyon Offshore’s systems and services with third party clients.

Olympic Athene. Photo credit: Olympic Shipping

The framework agreement will operate initially for six months, with the potential to be evergreen thereafter. The Olympic Athene has commenced its first job with a third party client in the U.S. Gulf under this agreement.

Stig Remøy, CEO of Olympic Shipping, stated “I am happy to see that we, together with Canyon Offshore, are able to set up a structure that offers our clients 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.