According to Splash247, Eidesvik Offshore and Reach Subsea have signed a memorandum of understanding to sell the jointly owned IMR vessel Viking Reach to an unnamed client. The transaction is expected to be completed in the early fourth quarter of 2026, subject to customary conditions.
Deal structure and ownership
Splash247 reported that the Viking Reach is a 2009-built inspection, maintenance and repair (IMR) vessel. The asset sits within Eidesvik Reach, a joint venture that is 49.9% owned by Reach Subsea, with the remaining interest held by Eidesvik Offshore. Under the signed memorandum of understanding, both partners will sell the vessel to a client whose identity was not disclosed in the report.
As part of the same transaction, Reach will also sell the work-class remotely operated vehicle (WROV) that is currently onboard the Viking Reach, according to Splash247. The combined sale covers both the surface vessel and the subsea robot, meaning the buyer takes control of the full IMR spread.
Financial details and expected gains
The transaction carries a clear financial impact for both sellers, as reported by Splash247. Eidesvik expects a gain of approximately NOK 80m ($8.4m) from the sale of the vessel. Reach, meanwhile, expects to recognise an accounting gain of approximately NOK 30m ($3.15m) related to the WROV sale upon completion of the transaction.
| Item | Detail |
|---|---|
| Vessel name | Viking Reach |
| Year built | 2009 |
| Vessel owner | Eidesvik Reach joint venture |
| Reach Subsea ownership stake | 49.9% |
| Eidesvik Offshore ownership stake | Remaining interest |
| Expected Eidesvik gain | Approximately NOK 80m ($8.4m) |
| Expected Reach gain (WROV) | Approximately NOK 30m ($3.15m) |
| Expected completion | Early Q4 2026 |
The deal is subject to customary conditions, with completion expected in the early fourth quarter of 2026, Splash247 noted. The sale price itself was not disclosed in the article.
Executive commentary
Both chief executives commented on the transaction. Jostein Alendal, CEO of Reach Subsea, said in a statement carried by Splash247: “The sale of Viking Reach allows us to realise value in a strong second-hand vessel market while advancing our long-term fleet renewal strategy. The investment has delivered an attractive return over our ownership period. The transaction also releases significant capital, strengthening our balance sheet and providing additional flexibility to continue high-grading our asset base and enhancing operational efficiency.”
Helga Cotgrove, CEO of Eidesvik Offshore, added: “Taking advantage of a strong market for second-hand tonnage, Eidesvik secures a substantial return on the investment.”
Operational implications for subsea project logistics
For freight forwarders, logistics managers and supply chain directors supporting offshore energy and subsea construction, the sale signals a near-term change in asset ownership on the IMR segment, according to the Splash247 report. The Viking Reach will remain in its current ownership until early Q4 2026, then transfer to the unnamed buyer. Because the WROV is included in the deal, the new owner will have immediate access to a full inspection, maintenance and repair spread.
The report does not specify the buyer, potential charter commitments, or the vessel's future geographic deployment. That means logistics planners cannot yet determine whether the Viking Reach will remain in its current operating area or shift to another region after the handover. What is confirmed, based on the source, is the transaction timeline: early Q4 2026, subject to customary conditions. Shippers and forwarders with subsea cargoes or crew-transfer logistics tied to this vessel should track the ownership handover and any subsequent changes in operating control.
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