Kristian Siem's Siem Offshore has agreed a deal with Shell in Norway that will keep a platform supply vessel (PSV) chartered out until 2025.
The extension for the 5,100-dwt dual-fuel Siem Pride (built 2015) runs until 14 November of that year, the owner said.
The agreement was made at market terms, but these were not revealed.
Spot rates for PSVs this week have been as much as £8,500 ($11,500) per day.
