Norway: STX OSV Bags USD 205 Million Shipbuilding Contract

STX OSV Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, has secured a new contract for the construction of one Research Vessel for the Norwegian Defence Logistics Organisation (“NDLO”). The contract value is approximately NOK 1.2 billion.

Delivery is scheduled from STX OSV Langsten in Norway in the fourth quarter 2014.

The overall length of the Research Vessel is approx. 125m with a beam of 23m. The Norwegian Defence Logistics Organisation delivers logistics according to military needs. This includes procurement, investment, support, supply and maintenance of all weapon systems and military materiel in times of peace, crises and war. The NDLO is also responsible for managing communication and computer systems.

STX OSV Holdings Limited, together with its subsidiaries, is one of the major global designers and shipbuilders of offshore and specialized vessels used in the offshore oil and gas exploration and production and oil services industries. Headquartered in Norway and with approximately 9,000 employees, STX OSV operates nine strategically located shipbuilding facilities, including five in Norway, two in Romania, one in Brazil and one in Vietnam. STX OSV’s long shipbuilding traditions, cutting-edge innovation and technology coupled with its global operations ensure access to the fastest growing oil exploration markets. The company’s expertise and track record in constructing complex and highly customized offshore and specialized vessels have earned it recognition from industry players and enabled it to build strong relationships with its customers. STX OSV was listed on the Main Board of Singapore Exchange (SGX) on 12 November 2010. STX OSV’s major shareholder STX Europe is part of the international STX Group. STX Group has approximately 54,000 employees, and aims to be a global top player in its core areas; shipping and trade, shipbuilding and machineries, plant and construction, and energy.

(1.2 billion Norwegian kroner = 205.2936 million U.S. dollars)

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Shipbuilding Tribune Staff, November 30, 2011; Image: stxosv