Havyard to Deliver Another PSV to Faroe Islands

The Herøy-based company has signed a contract with Supply Service for delivery of a vessel of Havyard 832 L design to the Faroe Islands and shipowner Tummas Justinussen. This will be the fourth ship of a Havyard design heading to the Faroe Islands and it is the third Supply Service vessel being built at Havyard`s own shipyard in Leirvik in Sogn, Norway.

The shipowner was also the first to order a vessel of a Havyard 832 design, leading to a series of deliveries of ships of this popular design. The vessel will be the 14th delivered from this specific Havyard design.

The PSV is due in July 2012 and the hull is already being constructed at Cemre Shipyard in Turkey. The contract value is at NOK 300 million.

“Supply Service Pf has become a very good and much valued customer for Havyard. We hope this is the start of a long and healthy relationship with the Faroe Islands and the future oil-related industry being developed on these islands.” says Executive Vice President, Business Development & Sale Shipbuilding of Havyard Group AS, Tor Leif Mongstad.

 “Havyard Group is also delighted that the Norwegian Government now will create an export financing arrangement supported by the state. This makes it possible to enter into these types of contracts in the future. With this arrangement in place, the industry can now concentrate on the most important issue; working towards getting contracts providing work and securing employment” says Mongstad.

Supply Service is part of the Sjöborg PF-group, a company built by Osmund Justinussen, the father of Tummas Justinussen. The family company has been in possession of close to 40 fishing vessels in as many years, and despite the Faroe Islands having no oil recovery, Supply Service is now investing heavily in the offshore industry.

Havyard Ship Technology AS in Leirvik, Norway will carry out the outfitting of this latest PSV, and  Norwegian Electric Systems, shall deliver complete diesel-electric propulsion for the new PSV vessel.

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Offshore Energy Today Staff , November 22, 2011; Image: Havyard