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    Contract placed for construction of CSV North Ocean 105

    Vessel & ROV News // July 9, 2010

    Houston-based J Ray McDermott and Oceanteam ASA have awarded a contract to build a high capacity rigid-reeled pipe-lay vessel North Ocean 105, to Metalships and Docks shipyard in Vigo, Spain.

    North Ocean 105 will be able to install flexible products including submarine cables, umbilicals and flexible pipelines, rigid-reeled pipelines, subsea components and hardware, as well as deepwater moorings for floating facilities.

    The anticipated delivery date of North Ocean 105 is early 2012 and the vessel will be built under the Spanish Tax Lease structure.

    The vessel is fully financed and has a five year charter in place starting upon delivery between joint Norwegian shipowning company and J Ray McDermott.

    Oceanteam ASA has a 25 per cent minority interest in the Norwegian shipowning company.

    North Ocean 105 is the fifth vessel in the North Ocean 100 series and the parties expect to benefit from the efficiencies gained during the building of the previous four vessels.


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