Norway: Farstad Shipping Orders OSCV from STX OSV

February 14, 2013

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, announces that it has secured a new contract for the design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for Farstad Shipping (“Farstad”).

This newbuilding, designed for subsea and IMR (Inspection, Maintenance and Repair) operations, is part of Farstad’ Shipping’s fleet development within the subsea market. The value of the contract amounts to approximately NOK 800 million.

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.

STX OSV already has three PSVs and four AHTS under construction for Farstad.

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Press Release, February 14, 2013