STX OSV inks $184m PSV contracts

Singapore: STX OSV secured contracts worth NOK1bn ($184m) for the construction of four platform supply vessels (PSV) for Island Offshore.

The first two contracts are expected to become effective in November this year and the remaining two in January 2012.

The vessels are scheduled for delivery from STX OSV Brevik in Norway in the third and fourth quarter 2013 respectively for the first two vessels, and in the first quarter 2014 for the other two vessels.

STX OSV has delivered more than 25 vessels to Island Offshore over the past 10 years, and already has four vessels under construction prior to securing the new contracts.

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  1. "Asia continues to be a driving force in offshore oil and gas - be it through demand, construction of vessels, finance or production. The region will, to a large degree, probably determine the future direction of the sector." Per M. Ristvedt, Managing Partner - Wikborg Rein Singapore

    “Offshore craft supporting the oil and gas sector in general will continue to see an increase in employment as energy needs in the region grow. Crew retention and competency will be just one of a number of challenges facing the OSV’s industry." Steven Randall, General Manager, Shipowners Club Singapore branch


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