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    Subsea 7 sells DSV Aquamarine to Bibby Line

    News // July 4, 2003
    Subsea contractor Subsea 7 has announced that it has agreed to sell the diving support vessel Aquamarine to Bibby Line Ltd.

    An agreement has been reached whereby Subsea 7 will charter back the vessel for a period of 150 days to fulfill ongoing contracts and is in dialogue with Bibby Offshore Ltd regarding further opportunities.

    Subsea 7 is working with the purchaser to provide continuity of work for the crew and offshore employees currently assigned to the vessel.

    John Smith, chief executive officer of Subsea 7 said: "This arrangement will provide a more flexible arrangement for the vessel allowing Subsea 7 to focus and strengthen its position in the key strategic subsea markets."

    The Aquamarine is currently in Grimsby mobilising for inspection, repair and maintenance work for Shell Southern North Sea.

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