Havyard to build PSV for owners from the Faroe Islands

NORWAY/FAROE ISLANDS: Havyard Group has signed contract with the Faroe Island based company Supply Service for building of one Havyard 833 Platform Supply Vessel (PSV) plus one option. The first vessel is to be delivered March 2012 and the optional vessel June 2012.

The vessels are to be built at the Havyard Group’s shipyard Havyard Leirvik AS in Norway and will be NB 106 and 107. The contract price is approx MNOK 350 per vessel.

The owner, Supply Service is an innovative company with its roots in fishery. They entered the offshore market by ordering the first Havyard 832 PSV design, “Eldborg” which was delivered in 2009. In a short period Supply Service has with this vessel proven their qualities in the market and received good feedback from oil companies and charterers utilizing their services. The Havyard 832 design has shown a very good track record both for Supply Service and other owners. Today there are 6 vessels of this design delivered and operating. The proof of the quality of the Havyard 832 design is that all the delivered vessels have got long term jobs in a challenging market. There is further 3 Havyard 832 under construction at different shipyards in Norway. Supply Service is now utilizing their good experience with the Havyard 832 design as valuable input to Havyard Design in the process of developing the Havyard 833.

Havyard 833 is a new PSV design from Havyard Design. The focus while designing the Havyard 833 was operating economy, large and flexible capacity to carry many types of cargo, high comfort for the crew and to minimize pollution of sea and air (Clean Design, optimized hull lines, diesel-electric propulsion, catalysts, etc.). Havyard 833 is a large PSV, well equipped for offering services to many of the operations required by the offshore oil industry. In addition to great cargo capacity the vessel will be equipped for oil recovery (NOFO 2009), stand-by / rescue services and Fire Fighting.

In addition to Havyard Leirvik building the vessels, several other companies within the Havyard Group will deliver products and services to the project.

- Havyard Design will deliver basic design and calculations and Havyard Steelcad will deliver detail engineering and workshop drawings.

- Havyard Elektro will deliver electrical installations and electric systems.

- Havyard Powertec will deliver electrical engineering and Havyard IASTM integrated automation system.

- Havyard Ship Services will follow up building of the steel hull in Turkey and service the vessel in the warranty period using Havyard Life Cycle PortalTM.

Main data for Havyard 833 PSV:

Loa: 86 m
Breadth: 19,6 m
Dead weight: 4700 tonnes
Deck area: 1000 m2
Speed: 15 knots
Accommodation: 24 persons

The maritime business is cyclic and following an all time high, with high stress on recourses, high price increases and lower efficiency we are now experiencing a relatively tough downturn. This is normal and not least necessary for the maritime business to develop and present new and competitive products again. Those having followed this business for some years know that big variations with highs and low are normal and that this presents different challenges and opportunities. At Havyard Group we used the boom to develop new products, introduce these into the market, to grow and to gain more references. From a very local shipyard in Norway we have developed into an internationally recognized brand name and a fully integrated shipbuilding enterprise offering services to the whole value chain and lifetime of a vessel, from cradle to grave.

We are utilizing the opportunities of the downturn to make our processes more efficient, become more competitive and develop new products to continue growing in the next boom. The newbuilding contract for the Havyard 833 design proves that the customers require new, improved products and not the technology of the past. Without demanding customers as Supply Service and good competitors as found in the strong maritime cluster in Norway we have no future Geir Johan Bakke, President and CEO of Havyard Group replies.