NorYards to Build New BOA Vessel

Noryards Fosen

BOA IMR AS, a BOA Offshore AS subsidiary, has entered with certain conditions, into a shipbuilding contract for a light construction / IMR vessel with NorYards Fosen AS, with delivery scheduled for spring 2017 from its yard in Fosen, Norway.

The vessel with main dimensions of 108 x 24 meters is designed by NorYards in cooperation with BOA Offshore and targets to be one of the most energy efficient in its segment and with optimized
capacities available for the clients.

According to the company, the vessel will be equipped with a 150t AH crane and a smaller working crane for 3000 meter working depth, accommodation for 125 passengers, a 1500 square
meter deck with moon pool and two working ROVs. The vessel will be classified by DnV with amongst others the notations of Ice 1-A, Well Stimulation and LFL.

BOA IMR AS will be majority owned by BOA Offshore, while yard owner Calexco S.a.r.l. will take an ownership of approx. 35 % of the shares. BOA has already paid in substantial parts of the equity in the project and limited equity from BOA is required until delivery in 2017. Long term financing is ensured with one large Norwegian shipping bank, while the shipyard provides construction financing.

The vessel will be under BOA Offshore AS management and will be chartered to BOA Marine Services Inc.

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