Greek offshore contractor Asso.subsea has agreed to buy the DP-2 inspection, maintenance and repair vessel Viking Reach from a joint venture between Norwegian companies Eidesvik Offshore and Reach Subsea, according to Asso.subsea.
The memorandum of agreement was announced on 4 August 2026, with closing expected early in the fourth quarter of 2026, subject to customary conditions. The price was not disclosed.
Eidesvik owns 50.1% of vessel-owning company Eidesvik Reach AS and Reach owns 49.9%.
Reach will separately sell the work-class remotely operated vehicle spread installed on board.
After delivery, the 2009-built vessel will be renamed Arete, after Queen Arete of Greek mythology, transferred to the Greek flag and used mainly as a trenching support vessel. It will add capacity while Asso awaits delivery of newbuilds Avra and Andromeda.
The ship has a 70-tonne active heave-compensated crane, an integrated WROV and survey spread, shallow-water capability, about 650 square metres of deck space and accommodation for 72 people.
Asso plans to deploy it for subsea cable protection, route preparation, post-lay burial and offshore wind work.
Eidesvik chief executive Helga Cotgrove said the deal generated a substantial return and supported fleet renewal. Previously named Edda Sun, the vessel was acquired by the partners for $29m in March 2023. It began a six-year charter to Reach in April 2023, with Eidesvik handling technical management, crewing and operations.
Elefsis-based Asso.subsea provides subsea cable transportation, installation and protection, seabed preparation, offshore wind and IMR services.
Haugesund-based Reach Subsea supplies ROV, survey, construction-support and decommissioning services.
Eidesvik Offshore is a Norwegian vessel owner and operator serving the offshore supply, subsea and offshore wind markets.