Farstad announces two AHTS newbuilds

SINGAPORE (Dow Jones)–STX OSV Holdings Ltd. (MS7.SG), a Singapore-listed shipbuilder, Wednesday announced it has secured new contracts for the construction of two vessels valued at NOK1.2 billion (US$218 million) from Farstad Shipping ASA (FAR.OS).

The two deep water anchor handling and offshore service vessels, each measuring 87.4 meters in length, will be delivered in the second quarter of 2013, STX OSV said in a statement to the Singapore Exchange.

STX OSV has in the past delivered four equivalent vessels to Oslo-listed Farstad Shipping, a supplier of offshore service vessels to the oil industry, the statement said.

-By Gaurav Raghuvanshi; Dow Jones Newswires
UPDATE:

The vessels are designed by Rolls Royce Marine with a total length of 87.4 meters and breadth of 21.0 meters. Bollard pull will be approx. 260 tons and installed power is approx. 24 000 BHP. The vessels will be built according to DNV’s strictest environmental class – “Clean Design” – and will be arranged for safe and efficient deepwater operations. The newbuilds are of the same design as Langsten has previously delivered four of to Farstad during 2009-2010.

The steel hulls will be built in Romania and outfitting yard will be STX OSV Langsten in Tomrefjord. Delivery of the vessels will be April and June 2013 respectively.

These newbuilds are part of Farstad’s fleet renewal and focus on the segment for deepwater activities.

With this latest order Farstad will have 8 vessels under construction at a contract value of NOK 3.2 billion.

Source: Farstad