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    Solstad confirms agreement on newbuild

    Vessel & ROV News // July 17, 2009

    Solstad Offshore has confirmed that it has entered into an agreement with Skrog 30 AS, which is owned by Sparebank 1 SR Bank and GIEK, for the acquisition of a large anchor handling vessel. The contract was originally placed by Solstad with Karmsund Maritime Services AS.

    As previously highlighted, the vessel will be completed at Ulstein Verft with delivery planned for the end of March 2010 at a cost of NKr 680 million.

    Finance for the vessel has been arranged with Sparebank 1 SR-Bank as agents. The financing will amount to about 90 per cent of the vessel's cost price and will at drawdown consist of two loans of respectively 80 per cent and 10 per cent of the cost price. The capital injection and the draw-down of the long-term loans will take place on hand-over of the completed vessel.

    The vessel is a VS 490 design and was originally designed in close co-operation with Solstad. It has 28,000 bhp, around 300 tonnes bollard pull, accommodation for 60, and is particularly well equipped for anchor-handling operations in deep waters (+1,000m).

    The vessel is designed with focus on safe anchor-handling and will be installed with the Triplex Multi Deck Handler (MDH) for remote operation of several deck operations.

    Solstad said it expects that the deep water market "will develop positively in the years to come" and that this contract will further strengthen its position in this segment.


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