Siem Offshore terminates with Marine Engineering Diving Services

Siem Offshore announced today that is has terminated the contract for multipurpose field & ROV support vessel Siem Marlin, which was on charter with UAE-based Marine Engineering Diving Services (MEDS).

The ill-fated deal was agreed in May 2015, for a period of five years with an option to acquire the vessel at the end of the charter period.

Siem said that the charter has been terminated due to non fulfilment of charterers’ obligations. A source told Splash that MEDS is likely in default of its charter payment and that it is currently having similar problems with at least two other vessels it has on charter.

Siem said that it will pursue its rights to claim damages from MEDS.