Nordic American Offshore to buy two platform supply vessels

23 June 2014 (Last Updated June 23rd, 2014 18:30)

Nordic American Offshore (NAO) has signed a deal to buy two platform supply vessels (PSVs), which will increase the company's fleet to 10 PSVs.

VARD 1 08

Nordic American Offshore (NAO) has signed a deal to buy two platform supply vessels (PSVs), which will increase the company’s fleet to ten PSVs.

The deal forms part of the company’s strategy to strengthen its presence in the offshore supply market.

NAO said in a statement that both vessels, each valued at $43m, incorporate similar design and capabilities as its current fleet.

"The vessels will be designed to suit operations in the North Sea as well as in cold climate environments."

The VARD 1 08 design-based vessels will be constructed by Vard Aukra on the western coast of Norway, while the hulls will be built at Vard Braila in Romania.

The vessels will be designed to suit operations in the North Sea as well as in cold climate environments, and are scheduled for delivery during the second and third quarters of 2015 respectively.

NAO had six PSVs from Ulstein as of November 2013 and is scheduled to receive four new vessels in 2015.

Headquartered in Norway, Vard operates ten shipbuilding facilities, including five in Norway, two in Romania, two in Brazil and one in Vietnam.


Image: The new PSVs will be based on the design of VARD 1 08 vessel. Photo: courtesy of Vard Holdings Limited.