Asso.subsea, a prominent player in Greece’s offshore energy sector, has made headlines with its recent acquisition of the IMR vessel Viking Reach. This purchase, announced earlier on August 4, marks a strategic expansion for the company as it looks to enhance its operational capabilities in the subsea domain.
The vessel, originally part of a joint venture between Reach Subsea and Eidesvik Offshore, was sold through a memorandum of agreement (MoA) to an undisclosed buyer. However, Asso.subsea’s ownership was confirmed soon after the announcement, adding the 2009-built, 85-meter vessel to its burgeoning fleet.
Upon delivery, Viking Reach will don a new name—Arete, inspired by the noble Queen Arete from Greek mythology. This name change is more than just symbolic; it signifies Asso.subsea’s intention to uphold a tradition of excellence and dedication within the marine sector.
The acquisition also encompasses advanced technology, including a work-class remotely operated vehicle (WROV) spread, which reinforces Asso.subsea’s robust capabilities. With this asset, the company aims to primarily utilize Arete as a trenching support vessel (TSV), pivotal for executing heavy projects outlined in their growing backlog.
Equipped with high-capacity subsea equipment and a 70-ton active heave-compensated (AHC) crane, Arete is described as “an extremely flexible asset.” This flexibility is crucial, as the vessel can handle various tasks ranging from subsea cable protection to post-lay burial, and even contribute to projects within the offshore wind market.
As part of this transaction, the vessel will be registered under the Greek flag, symbolizing national pride and further demonstrating Asso.subsea’s commitment to the local maritime economy. The completion of the sale is anticipated in early Q4 2026, pending standard closing conditions.
This latest move follows the company’s recent newbuild orders for two additional TSVs, Avra and Andromeda, highlighting an aggressive growth strategy aimed at fortifying its position in the offshore energy market.
“The acquisition of TSV Arete reinforces our long-term commitment to providing top-tier trenching solutions to the offshore energy market,” expressed Eva Pavlou, Asso.subsea’s Commercial Director. Her statement underscores the company’s dedication to enhancing its capacity for executing complex subsea projects, ensuring safety and efficiency while adhering to the highest industry standards.