Norway: Bergen Group Inks Second Offshore Vessel Contract with Volstad Maritime

Bergen Group Fosen has been awarded a contract from Volstad Maritime AS for building a large and high end offshore vessel. The contract has an estimated value of NOK 750 million, and this is the second contract awarded from the shipping company this year.

The signed contract is subject to final board approval and financing, which is expected to be clarified during Q2 2012. The ship is scheduled for delivery in Q4 2013.

The contract is for construction of a large and advanced OCV (Offshore Construction Vessel) with a length of 125 meters and a beam of 25 meters. The ship is a ST-259 CD design from Skipsteknisk in Ålesund.

“Bergen Group has registered a growing interest from both old and new customers who are considering building advanced offshore vessels at our shipyards. This contract with Volstad Maritime AS confirms that we are facing an exciting and innovative market for the construction of this type of ship”, says Terje Arnesen in Bergen Group.

CEO Arnar Utseth at Bergen Group Fosen is very pleased to be awarded two new construction contracts from the same company within a period of two months. The former contract, signed in the first week in February this year, was also for a construction of an advanced OCV-vessel.

“We are proud of the fact that this shipping company wants to continue the well- established partnership with us. We are looking forward to building yet another modern, advanced and innovative ships to Volstad Maritime”, says Arnar Utseth.

Volstad Maritime AS has since 2005 ordered all their newbuildings, a total of eight vessels, from Bergen Group Fosen. Five of these have already been delivered. One vessel is being outfitted at Fosen at the moment and will be delivered in summer 2012. Vessel number seven, contracted in February this year, will be delivered in Q3 2013. The new ship contract awarded today is up for delivery in Q4 2013.

Volstad Maritime AS is a privately owned Norwegian offshore shipping company headquartered in Ålesund. The company is well established in the international market, with a modern fleet of advanced offshore vessels.

Bergen Group has during the last five years delivered a total of 16 advanced offshore vessels to different customers both nationally and internationally. The group’s shipbuilding division will in 2012 deliver another four different vessels with a total contract value of NOK 2.7 billion.

750 million Norwegian kroner = 132.3735 million U.S. dollars

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Shipbuilding Tribune Staff, April 3, 2012; Image: Bergen Group