Norway: Oceanteam’s Newbuild CSV Commences Five Year Charter

Oceanteam Shipping ASA has announced that it’s new Lay Vessel, CSV North Ocean 105 which is jointly owned with J Ray McDermott (Norway) AS, has been delivered on time and has immediately commenced a five year time charter. The company’s fleet of CSVs now consists of four partially owned North Ocean Series concept vessels.

‘’We are very pleased with this successful delivery and the fact that the vessel starts to work for the Owners at once. The yard, McDermott and OTS have capitalized on our joint experience with this vessel series, says CEO of Oceanteam Shipping, Haico Halbesma’’

The five year time charter is with Eastern Marine Services Inc. a 100% subsidiary of McDermott. The vessel has been built and delivered by Metalships in Vigo, Spain.

The North Ocean 105 is the fifth vessel to be delivered with this concept developed by Oceanteam Shipping. The North Ocean series is one of the most advanced, able and successful, high-end Construction Support Vessel series to date. The series’ proven quality for advanced deepwater operations under the most demanding and harsh conditions has set a new industry standard.

Lay Vessel North Ocean 105 is the second vessel within the McDermott fleet of the North Ocean Series which is jointly owned.

CSV North Ocean 102, with its 7,000 tons horizontal lay system, has been working successfully on numerous McDermott projects since August 2010. Before delivery to McDermott the vesselwith successfully performed the Statoil Gjoia Power Cable installation and the BritNed interconnector powercable for ABB.

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Source: Oceanteam, April 23, 2012