Saipem cuts short support vessel charter

Sept. 18, 2020
Saipem (Portugal) Comercio Maritimo LDA has opted for early termination of a charter for the offshore supply vessel Normand Maximus.

Offshore staff

SKUDENESHAVN, Norway – Saipem (Portugal) Comercio Maritimo LDA has opted for early termination of a charter for the offshore supply vessel Normand Maximus.

According to Solstad Offshore, parent company for Normand Maximus Operations, the charter will now end with four years remaining of the originally agreed charter period.

The company estimated the lost backlog at around $200 million, adding that Normand Maximus Operations would be entitled to an early termination fee of around $45 million.

09/18/2020