Havyard Leirvik has signed a $54m contract with Faroe Island-based Supply Service to build a platform supply vessel (PSV).

The 47dwt Havyard 833 will be delivered by March 2012 with an option for another vessel by June 2012.

The vessels are expected to cost the Norwegian company NKr350m ($54m) each.

The Havyard, which will be built at Havyard Leirvik shipyard in Norway, has been designed to reduce carbon emissions, according to motorship.com.