STX OSV books OSCV order from Solstad Offshore

FEBRUARY 14, 2013 – STX OSV Holdings Limited reports that it has secured a new contract for the design and construction of an Offshore Subsea Construction Vessel (OSCV) for Skudeneshavn, Norway, headquartered Solstad Offshore.

The value of the contract is approximately NOK 600 million (about $109.5 million). 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 second quartee 2014. The hull will be delivered from STX OSV’s Tulcea, Romania, shipyard.

Solstad Offshore has signed a five year firm charter agreement for the vessel with Reach Subsea ASA, starting from delivery from the shipyard. In addition, the charterer has an option to extend the contract by a further three one-year charters. The value of the firm part of the contract is approximately NOK 650 million.

Reach Subsea is a new client for Solstad Offshore, which says it is “an exciting addition to a growing subsea market.”

Although the company is young, the people and management team in Reach Subsea are well known to Solstad Offshore and to the subsea market, says Solstad.