Eidesvik Offshore Commissions Kleven Maritime to Build US$180 Million Subsea Construction Vessel

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June 5, 2012

Eidesvik Offshore announced Tuesday that it has hired Norwegian shipbuilder Kleven Maritime to build a large subsea construction vessel for NOK 1.1 billion, or about US $180 million, marking the largest single investment in the company’s history.

The ship measures is 145 meters long by 31 meters wide, is equipped with 2 cranes with a lifting capacity of 400 tons and 100 tons, respectively, and will have total load capacity 13,500 tonnes.  In addition to its impressive size, the ship is going to be designed for operation in arctic waters.

The ship design was developed by Eidesvik Offshore in close collaboration with the Salt Ship Design and Kleven Group.  The design itself is designated type SALT 301 OCV, with a strong focus on environmentally friendly solutions that make the ship well prepared to meet future environmental requirements in sensitive areas.

In a statement, Eidesvik Offshore expressed optimism that the investment will strengthen the company’s profitability substantially and estimates the vessel will create 50 new jobs and increase activity considerably for the company.

“We have a firm belief in the market for this type of vessel, and we are very confident that this is a correct strategic step for the company”, says Jan Fredrik Meling, Chief Executive Officer, Eidesvik Offshore ASA., “This enhances our position as a leading operator of subsea vessels.”

The contract will not be the first time Eidesvik and Kleven will work together.  In 2003, the companies partnered in building the world’s first LNG powered offshore supply vessel, Viking Energy.  More recently, in March 2012 Kleven Maritime delivered the LNG powered vessel Viking Prince, and in June Eidesvik will also take delivery of its sister vessel Viking Princess.

“We are delighted that Eidesvik has chosen to build this large, very advanced vessel at Kleven Verft,” said StÃ¥le Rasmussen, CEO of Kleven Maritime. “We look forward to continuing our cooperation with Eidesvik, and to deliver this complex vessel which we are confident will provide a safe work place for the crew, and be a good investment for Eidesvik.”

The vessel will be built at Kleven Maritime’s shipyard Kleven Verft located in Ulsteinvik, Norway. Delivery is set to Q2 2014.

The contract with Kleven also includes an option for a second identical vessel that, if exercised, will be set for delivery early 2015.

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