Offshore Construction Vessels Ordered from STX OSV

STX OSV win contracts for two offshore subsea construction vessels for Norway's Siem Offshore

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, announces that it has secured new contracts for the design and construction of two Offshore Subsea Construction Vessels (“OSCV”) for Siem Offshore in Norway. The vessels will be of STX OSV’s OSCV 11 design. The vessels will have an overall length of 121 meters, a beam of 22 meters and will be equipped with a 250t AHC crane.

Deliveries are scheduled from STX OSV Brattvaag in Norway in 3Q and 4Q 2013. The hulls of the vessels will be delivered from STX OSV Tulcea in Romania. STX OSV also has two Platform Supply Vessels under construction in Brazil for the same customer.

Siem Offshore Inc. is an owner and operator of modern support vessels for the global oil and gas service industry. The Company has currently a fleet of 44 vessels, of which 5 are under construction. The fleet includes large Anchor Handling Tug Supply vessels, Platform Supply Vessels, and other support vessels. Siem Offshore is listed on the Oslo Stock Exchange.