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    Subsea newbuilds continue to be delayed

    Vessel & ROV News // December 21, 2015

    As the growing uncertainty of the subsea market extends into 2016, several owners are continuing the trend of delaying delivery of newbuilds into a quiet market.

    As broker Seabrokers reported in its latest monthly newsletter, Seabreeze, Island Offshore has delayed
    delivery of its newbuild OCV Island Victory from the Vard Brevik yard in Norway. The Rolls Royce 797 CX-designed
    vessel was initially scheduled to be delivered in June 2016 but this has now been pushed back until the latter part of next year. The vessel will be equipped with a 250 tonne offshore crane, two ROVs and a large moonpool, enabling it to perform deep water subsea installation work.

    Seabrokers said Edison Chouest has said that delivery of two Ustein SX165-designed OCV vessels under construction at Houma will not take place until after the delivery of the Island Ventures II newbuild which is currently under construction at the Edison Chouest yard in the Gulf of Mexico. The reasoning behind this is to mitigate negative implications of the weaker market.

    Delivery of Island Ventures II’s SX165-designed vessel, which has a length of 146m, a maximum lift of 400 tonnes and DP3 stationkeeping, is scheduled for the third quarter of 2017.

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