Talks to secure ships will intensify today and throughout the year to secure ships through partnerships, leases, purchases to convert, purchases to use now and orders to build new ships to support the City of Mount Vema during and after construction.
The action plan is part of the new method approved by the Vema Seamount Authority on the 22nd of May this year to enable the government to accelerate the availability of capital, so companies can finalize deals to purchase ships before the end of the year.
The new approved method becomes effective today, 30 days after it was signed by the Vema Seamount Authority in May, following a bid submitted by a consortium of Mount Vema companies and W-Contractors to secure enough capital to purchase a fleet of needed specialist ships.
Negotiations that typically took months due to the complexity of the contracts, was settled in a matter of days, after the Vema Seamount Authority got involved. Representatives responsible for budget will now proceed with talks to secure the required number of ships to stay on schedule.