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Reach, Eidesvik, Agalas order low-emissions IMR ship
Three Norwegian companies have combined forces to invest in a newbuild low-emissions subsea support vessel to increase fleet capacity and deepwater capabilities
Reach Subsea has taken a stake in a newbuild subsea maintenance and survey vessel, with dual-fuel generators and hybrid propulsion, to increase its fleet capacity and project capabilities. The Haugesund, Norway-headquartered vessel operator has also agreed to charter this low-emissions newbuilding when it is delivered from Sefine Shipyard in Turkey, scheduled for Q2 2027.
Reach Subsea partnered with Eidesvik Offshore and Agalas to finance construction of the vessel, which is prepared for inspection, maintenance, repair (IMR) and underwater surveys.
Reach Subsea will hold a one-third stake in this newbuild, with its equity investment financed through existing cash reserves and operational cash flow. Eidesvik and Agalas will together have the other two-thirds. Reach Subsea has also signed a five-year charter for the vessel, with options for two one-year extensions.
“Vessel capacity for long-term growth is crucial for us,” said Reach Subsea chief executive Jostein Alendal. “While long-term charter agreements remain our primary business model, we recognise the significant value in establishing co-ownership of key assets to support our long-term strategy.”
This 100-m newbuild vessel will be classed by DNV and designed by NSK Ship Design to have a 900 m2 deck area and accommodation for 100 people.
It will be equipped with innovative launch and recovery systems for two work-class remotely operated vehicles (ROVs) and a 150-tonne active heave compensated (AHC), knuckle boom crane and will be prepared for deepwater operations.
Sefine will install a hybrid dual-fuel propulsion system, with a battery package supporting methanol-diesel generators driving multiple azimuth thrusters for sea transits and dynamic positioning to DP2.
In November 2023, Reach Subsea announced a long-term charter contract for a similar IMR/survey vessel owned by Eidesvik and Agalas, with planned delivery in Q1 2026.
“These innovative low-emissions vessels are well suited for solving complex tasks across different segments in the ocean space,” said Mr Alendal. “The vessel’s 150-tonne AHC knuckle boom crane, and expansive 900-m2 deck area, perfectly accommodate survey, IMR and construction operations.”
When powered by methanol, the vessel’s CO2 emissions are forecast to be around 70% lower than those of the existing Reach Subsea fleet. When using the marine gasoil and the battery system together, it is projected to achieve a reduction of about 20%
“Adding another newbuild is providing fleet renewal and adding scale with a low-emissions, versatile vessel,” said Eidesvik chief executive Helga Cotgrove. “We are pleased to further continue our strong collaboration with existing partners. This is in line with our strategy and builds shareholder value.”
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