Solstad Sign Intents in Large Subsea Construction Vessel Deal
Wednesday, March 12, 2014
Rendering of subsea construction vessel courtesy of Solstad

Norway headquartered Solstad Offshore ASA (SOFF) inform it has signed a Letter of Intent (LOI) with a major international offshore contracting company to construct & operate a large subsea construction vessel. The intention is that the client will charter the vessel from Solstad for a period of 8 years firm, in addition to 3 x 1 yearly options.  

At the same time, Solstad have signed a LOI with VARD  to design and build the vessel. The hull will be built at VARD's own facilities in Tulcea, Romania, while the outfitting of the vessel will be done at VARD Brattvaag in Norway. The scheduled delivery of the vessel is in the second quarter of 2016.  

The vessel, which will be the largest in the Solstad-fleet, will have a 550-ton top tension vertical lay-system, enabling the installation of large diameter flexible pipes in ultra deepwater and in harsher environments. In addition, a 600 ton active heave compensated offshore crane and a 4000 ton under-deck carousel for storage of flexible pipes, cables and umbilical's. The vessel will be about 180 meters long, have a beam of 33 meters and a deck area of more than 2500 m2.  

About the company
Solstad Offshore ASA is among the largest shipping companies in Norway, providing advanced vessels and extensive maritime competence for operations related to the offshore petroleum industry. The company has about 1,800 employees, and operates 48 vessels all over the world. Solstad Offshore is headquartered in Skudeneshavn, Norway and has branch offices in Brazil, Singapore, the Philippines, the United Kingdom and Australia.

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