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    Eidesvik orders IMR vessel against long-term charter from Stolt Offshore

    News // December 1, 2005

    Eidesvik's VS495 has a long-term charter from Stolt Offshore.

    COO Jan Lodden and CEO Jan Fredrik Meling study the ship's GA.

    Eidesvik in Norway is to add a new, state-of-the-art Inspection, Maintenance & Repair (IMR)/ROV support vessel to its subsea fleet, having secured a long-term charter for the vessel from Stolt Offshore.
     
    Eidesvik said demand for vessels of this type and large size for work in the subsea sector is increasing. In October, Eidesvik signed a contract with Shell for subsea services in Nigeria, and has been seeking strategic partners to expand further on a world wide basis, primarily based on long term contracts.

    "The newbuilding will strenghten Eidesvik's position in this market and it is important for the daily operations and the future development of the company," said the company. "Eidesvik is therefore very satisfied with the fact that a new eight-year contract has been signed with Stolt Offshore for the operation of the vessel on a time charter."

    Eidesvik has a focus on long-term contracts and the eight-year fixed contract has options for a further 12 years.

    The charter commences on delivery of the ship in mid-2007. The ship, a Vik-Sandvik VS495, which will be built at the Norwegian shipyard Flekkefjord Slipp & Maskinfabrikk AS, will be 95m long, with a moonpool, a high specification ROV system and survey suite, and will meet the latest environmental criteria.

    Řyvind Mikaelsen, Vice President – Northern Europe and Canada Region at Stolt Offshore said: "This new addition to the Stolt Offshore fleet confirms our strong commitment to the IMR and survey market in the North Sea where we currently operate Seaway Petrel and Normand Mermaid. This new ship will provide our recently formed Survey Business Unit with a market leading asset to further develop our presence in this segment and offer our customers the latest technology in pipeline inspection, seabed mapping and construction support."

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