STX OSV Completes OSCV Hat Trick

Recently acquired STX OSV, a global designer and shipbuilder of offshore and specialized vessels, announced Thursday three separate orders from three different companies totaling at least NOK 1.4 billion, or about US$250 million. Here’s a breakdown of each:

Order #1: OSCV for Farstad

As gCaptain reported earlier today, STX OSV secured a new contract for the design and construction of an Offshore Subsea Construction Vessel, or OSCV, for Farstad Shipping. The newbuilding, designed for subsea and IMR (Inspection, Maintenance and Repair) operations, is part of Farstad’ Shipping’s fleet development within the subsea market.

The vessel will be of STX OSV’s OSCV 07 design with a total length of 143 meters, beam of 25 meters and a deck area of more than 1,800 m². It is equipped with two offshore cranes, of which the larger one has a lifting capacity of 250 tons. The vessel is arranged for 3 ROVs (Remote Operating Vehicles) and can accommodate 130 persons. Delivery is scheduled from STX OSV Langsten in 1Q 2015. The hull will be delivered from STX OSV Tulcea in Romania.

Contract Value: NOK 800 million.

Order #2: OSCV for Solstad

In addition to the OSCV for Farstad, STX OSV also said that it has secured a new contract for the design and construction of an OSCV for Solstad Offshore, one of Norway’s largest shipping companies operating in the offshore oil and gas industry.

The vessel will be of STX OSV’s OSCV 03 design, and will be equipped with a 250 ton crane and accommodation capacity for 100 persons. The overall length of the vessel will be approximately 121 meters, with a beam of 23 meters. Delivery is scheduled from STX OSV Aukra in Norway in 2Q 2014. The hull will be delivered from STX OSV Tulcea in Romania.

Contract Value: NOK 600 million

Order #3: OSCV for DOF Subsea

Last but not least, STX OSV also announced a new contract for the design and construction of an OSCV for DOF Subsea, a specialist subsea service business that provides subsea construction, subsea engineering, inspection, repair and maintenance and survey services.

The vessel will be of OSCV 12 design, developed by STX OSV in Ålesund, Norway. It will have a total length of approximately 161 meters and a beam of 32 meters. Delivery is scheduled from STX OSV Søviknes in 1Q 2015. The hull will be delivered from STX OSV Tulcea in Romania.

Contract Value: Undisclosed

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On January 23, 2013, Fincantieri Oil & Gas S.p.A., a wholly owned subsidiary of Fincantieri – Cantieri Navali Italiani S.p.A., completed its acquisition of 50.75% of the shares in STX OSV from former majority shareholder STX Europe, making the Italian shipbuilding group the world’s fifth largest shipbuilder.

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