Volstad Shipping AS has signed a contract with Tersan Shipyard in Turkey regarding building of a Subsea IMR and Construction Vessel. The contract was signed July 4th 2013 and is subject to satisfactory financing.

The new vessel has main dimensions of 128.5m x 25m and is of ST-259 design. Estimated delivery time is Q4/2015.

Total project cost is estimated at approximately NOK 800 million.

Fearnley Offshore Supply AS has facilitated the new build contract between the two parties and has also participated in the development of the design. Fearnley will also handle the chartering of the ship.

Press Release, July 10, 2013; Image: Skipsteknisk