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    VS 490 hull from Karmsund for Siem Offshore AHTS

    Vessel & ROV News // July 14, 2009

    Siem Offshore says it has accepted a proposal from Kleven shipyard to utilise an existing hull for the construction of one of the eight anchor handling tug supply vessels to be built for the company.

    The existing hull was initially built for an AHTS vessel to be delivered by the Karmsund shipyard in Norway, but is currently owned by the Norwegian Guarantee Institute for Export Credits (GIEK) and SpareBank1 SR-Bank in Norway due to the bankruptcy at the Karmsund yard.

    The existing hull is of a VS 490 design and is to a large extent similar to the VS 491 CD design ordered by the company. The relevant vessel will be equipped with an ODIM ARF A-frame, FiFi I and Standby Class.

    The company has agreed to pay an additional NKr 25 million for the enhanced capabilities. All other terms are as per the initial contract. The scheduled delivery of the relevant vessel is May 2010 as compared to the initially scheduled delivery in March 2010.

    Siem Offshore has accepted an offer for a 70 per cent loan and guarantee facility for the vessel. The loan will be provided by the Norwegian export credit institution for Export Financing (Eksportfinans) and the guarantees will be provided by SpareBank1 SR-Bank and GIEK.


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