STX OSCV 07 design offshore subsea construction vessel.
Farstad Shipping ASA has, through its wholly owned subsidiary Farstad Supply AS, announced today the signing of a NOK 825 million (USD $150 million) newbuild construction contract with STX OSV AS for an offshore subsea construction vessel.
I spoke with Torstein Stavseng, Chief Financial Officer at Farstad this morning and he comments,
“Farstad has been working in the offshore and subsea sector for quite a while and this newbuilding is a continuation of our growth strategy, particularly in the subsea sector.”
Yesterday, Farstad released their Q4 results which showed a bit lower profits versus 2011, as well as a lower proposed dividend for 2012. Mr. Stavseng noted, “over the past 5 or 6 years our dividend has been between NOK 3 and NOK 5 per share. Our lower dividend directly reflects our increased capital investment into fleet expansion and growth of our business.”
About this vessel:
The vessel is a STX OSV OSCV 07 design (Offshore Subsea Construction Vessel), and is designed for subsea and IMR operations (Inspection, Maintenance and Repair). The vessel has a total length of 143 meters, beam of 25 meters and a deck area of more than 1,800 m². The vessel is equipped with two offshore cranes, of which the larger one has a lifting capacity of 250 tons. Furthermore the vessel is arranged for 3 ROV (Remote Operating Vehicles) and has an accommodation arranged for 130 persons.
The steel hull of the vessel will be built by STX OSV yard in Tulcea, Romania and outfitting will take place at STX OSV yard in Tomrefjord (Langsten). Delivery is expected in the 1st quarter of 2015.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,228 members that receive our newsletter.
Have a news tip? Let us know.
Two of the world's biggest renewables players on Wednesday warned of challenges for the U.S. offshore wind sector under a presidency led by Donald Trump, flagging potential delays for the technology slammed by the president-elect.
A Russian Navy frigate equipped with new generation hypersonic cruise missiles has conducted drills in the English Channel and is carrying out tasks in the Atlantic Ocean, Russian news agencies reported on Tuesday.
Energy regulator Ofgem approved five new subsea power links from Great Britain to the continent and Ireland as the country seeks to profit from a boom in wind capacity and become a net electricity exporter by the end of the decade.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,228 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
