On delivery it will be chartered by Toronto-based Nautilus Minerals for a minimum period of five years at a rate of $199,910 per day.

At the end of the five year period Nautilus has the option to either extend the charter or purchase the vessel for an undisclosed fee.

It will serve as the operational base for a project to extract and to transport copper and gold material from the seabed off Papua New Guinea.

Dubai-based