Norwegian Farstad Shipping Orders Two PSVs from STX OSV

STX OSV Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, announced that it has secured new contracts for the design and construction of two Platform Supply Vessels (PSVs) for Farstad Shipping. The total value of the contracts amounts to approximately NOK 700 million.

The first vessel, of STX OSV’s own PSV 07 design, is scheduled for delivery in 2Q 2014 from STX OSV Langsten in Norway. The hull will be delivered from STX OSV Tulcea in Romania. The second vessel, also a PSV 07, will be delivered in 3Q 2014 from STX OSV Vung Tau in Vietnam.

PSV 07 is a new innovative design developed by STX OSV. The vessels are 94.5 meters long and 21 meters wide, with a deadweight of 5,600 tons. They will be built to comply with DNV’s strictest “Clean Design” class notation requirements to reduce environmental impact, and are designed for effective and safe operations in harsh conditions.

STX OSV already has six PSVs and four AHTS under construction for Farstad. Farstad Shipping is a major international supplier of large, modern offshore service vessels to the oil industry. Farstad Shipping’s fleet currently consists of 53 vessels (29 AHTS, 21 PSVs and 3 subsea vessels) and 10 newbuilds under construction.

700 million Norwegian kroner = 117.2689 million U.S. dollars

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Source: STX OSV, June 19, 2012