Siem Offshore Orders New Cable Lay Vessel from Poland

Siem Offshore has entered into a shipbuilding-contract with Remontowa Shipbuilding S.A. in Poland.

The contract has been signed for the construction of a dynamically positioned Cable Lay Vessel (“CLV”) scheduled for delivery in April 2015. The associated gross project cost for the first vessel, ready for operation, is approx. USD 85 million.

The CLV has been designed in close cooperation with VARD Design and will have an overall length of 95.3 meters, a breadth of 21.5 meters, a cable payload of 4,250 tons and an accommodation for 60 persons. The CLV will be equipped with a state-of-the-art diesel-electric propulsion system consisting of four main generators providing power to two azimuth propulsion thrusters, two tunnel thrusters and one retractable thruster, ensuring excellent station-keeping capability as well as environmentally-friendly and fuel efficient marine operations.

The focus for the design of the CLV has been to meet the challenging requirements of the installation, repair and maintenance of medium and high voltage submarine cable systems within the offshore renewable energy and offshore oil and gas markets.

The contract for the CLV is the next step within the long-term strategy of Siem Offshore to support its subsidiary Siem Offshore Contractors (“SOC”) with high-end installation and support assets to further strengthen its ambition to become the leading provider in the area of submarine cable installation services. The CLV is hereby planned to work in combination with the installation support vessel (“ISV”) ordered by Siem Offshore in October 2012.