Deep Sea Supply Secures Contracts for 4 AHTS Vessels (Cyprus)

Deep Sea Supply announces that we have been awarded time charter contracts for the AHTS vessels “Sea Jaguar”, “Sea Cheetah”, “Sea Ocelot” and “Sea Hawk 1” with Gazflot for operations in the Sakhalin area.

The duration of the contracts are 6 – 7 months. The vessel “Sea Hawk 1” is time chartered from “JSE Shipping Pte Ltd” to Deep Sea Supply. Commencement will be approx 7 May 2011 in Singapore.

Deep Sea Supply Plc is an offshore supply company. The Company is owner and operator of a total of 22 Anchor Handling Tug Supply vessels and Platform Supply Vessels. The Company has a new building program consisting of four vessels. The current newbuling program will be completed within 2012.

The Company intends to become one of the leading owners and operators of supply vessels on a global basis. Deep Sea Supply Plc will primarily seek to obtain and maintain a chartering profile with emphasis on short and medium term contract markets for the large AHTS vessels. For the PSVs and the small AHTS vessels, Deep Sea Supply Plc will seek to obtain medium to long term contracts.

The current fleet of vessels currently operates in the North Sea spot market, West Africa, Mediterranean, South East Asia and Brazil.

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Source: deepseasupply, April 26, 2011;