Tersan Shipyard Nets $130 Mln OCV Contract

Volstad Shipping AS has signed a contract with Tersan Shipyard in Turkey regarding building of a Subsea IMR and Construction Vessel.

The contract was signed on July 4th 2013 and is subject to satisfactory financing. Total project cost is estimated at NOK 800 million (approx. $130 Mln).

The new vessel has main dimensions of 128.5m x 25m and is of ST-259 design. The vessel, is a purpose built Offshore Construction Vessel / ROV / Survey vessel specially designed for operation under severe weather conditions and with high maneuverability and station keeping capabilities.

Estimated delivery time is Q4/2015.

Fearnley Offshore Supply AS has facilitated the new build contract between the two parties and has also participated in the development of the design. Fearnley will also handle the chartering of the ship.

[mappress]
Press release, July 10, 2013