Deepflex charters Cecon newbuilds

April 24, 2007
Deepflex Inc. has agreed to charter both of Cecon ASA's newbuild vessels for 150 days a year over five year, with three yearly options.

Offshore staff

ARENDAL, Norway --Deepflex Inc. has agreed to charter both of Cecon ASA's newbuild vessels for 150 days a year over five year, with three yearly options.

The $112-million agreement also calls for Deepflex and Cecon to cooperate on installation services. As part of that, Deepflex will provide 2,500-ton carousels for under deck installation on both Cecon vessels. Deepflex manufactures flexible, non-metallic pipes for subsea use.

Cecon will use the remaining vessel days for its own subsea installation business.

4/24/2007