Fincantieri Unveils New Drillship Design

Italy's Fincantieri on Monday unveiled its new ultra-deepwater drillship design at the Offshore Technology Conference in Houston as the world's fifth largest shipbuilding group looks to expand its offerings to the growing offshore market. The new design, called the "OVERDRILL", was developed by Fincantieri in cooperation with Aker Solutions and will be able drill to an … [Read more...]

Introducing VARD: Aka The Shipbuilder Formerly Known as STX OSV

The specialized and offshore vessel designer and shipbuilder formerly known as STX OSV Holdings Limited will now be officially known as VARD, the company said in a statement Tuesday. VARD derives from the Norwegian word “varde”, which refers to a small tower of stones used since ancient times as a navigation mark along the coast to guide ships, the name embodies … [Read more...]

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 … [Read more...]

Farstad Expands Subsea Construction Vessel Fleet with Latest $150M Newbuild Order

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 … [Read more...]

Fincantieri Completes STX OSV Purchase to Become World’s Fifth Largest Shipbuilder

Italian shipbuilding group Fincantieri on Wednesday said that it has successfully completed its previously announced purchase of a controlling stake in STX OSV from STX Europe. Fincantieri, which made the purchase through its wholly owned subsidiary Fincantieri Oil & Gas S.p.A., now owns 50.75% of STX OSV, which it bought for SGD 1.22 per share totaling approximately … [Read more...]