Norwegian offshore service and supply ship shipping firm Solstad has confirmed an order with Singapore-listed VARD Group for a new-build, large subsea construction vessel.

The firm contract comes after Solstad signed a letter of intent (LOI) on 11 March with a major international offshore contractor to build and operate the vessel, including a LOI with VARD to construct the vessel.

The LOIs that were notified to the Oslo Stock Exchange have now been converted to firm contracts.

The new VARD 3 19 design vessel will be developed by Vard Design in Ålesund and is claimed to be the largest in the Solstad fleet.

The 180m-long vessel will have a 550t top tension vertical lay system to enable the installation of large diameter flexible pipes in ultra-deepwater environments.

Featuring a deck area of more than 2,500m², the vessel will have a beam of 33m and be installed with a 900t active heave compensated offshore crane and a 4,000t under-deck carousel for storage of flexible pipes, cables and umbilicals.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Construction on the vessel’s hull will be carried out at Vard Tulcea in Romania, while outfitting will take place at Vard Brattvaag in Norway.

Following delivery of the vessel, which is scheduled for the second quarter of 2016, the client will charter the vessel for a minimum of eight years.

Image: The VARD 3 19 vessel design. Photo: courtesy of Solstad Offshore ASA.