Norway: Havyard Wins Contract for Delivery of Two PSVs of Havyard 832 Design

Havyard Group AS has signed a contract with the Indian shipping company Global Offshore Ltd for delivery of a PSV vessel, including an option for one further vessel. The Indian shipping company, known as Garware Offshore until just recently, has changed its name due to an expansion from only operating within India to operating in the global offshore market.

Global Offshore is listed on the Mumbai stock exchange and has to date 12 vessels in operation. The contract is for delivery of two ships of a Havyard 832 design, vessels number 13 and 14 of this specific Havyard design from the Herøy-based company.

CEO Geir Johan Bakke of Havyard Group AS is delighted with the new contract, a contract to the value of around NOK 500 million.

Global Offshore Ltd is a very good customer of ours. These will be constructions number 6 and 7 that our own shipyard in Leirvik will deliver for this shipping company; and the last one was the PSV vessel “Beaucephalus”, delivered last year. This was a Havyard 832 L SE-design. The fact that the Indian shipping company signs a contract for two new supply vessels is recognition of the work that we have done here at Havyard. In addition, it is another confirmation of exactly how attractive the Havyard 832 has proven to be,” says Bakke.

The outfitting of these two vessels will be done at Havyard Group`s shipyard at Havyard Ship Technology in Leirvik, and the vessels will be delivered during the first and second quarter of 2013.

Havyard Wins Contract for Delivery of Two PSVs of Havyard 832 Design

This will also lead to considerable subcontracts within the business areas of Havyard Design & Engineering and Havyard Power & Systems. Besides, Norwegian Electric Systems, where Havyard Group is a co-owner, will deliver complete electric propulsion,” informs CEO Geir Johan Bakke.

Vice Chairman of Global Shipping Ltd, Aditya Garware, is also delighted with the new contract. “We are very happy to be able to continue developing our excellent cooperation with Havyard Group, a cooperation that has ensured a healthy growth for both of our companies, says Garware.”

(500 million Norwegian kroner = 86.2855 million U.S. dollars)

Shipbuilding Tribune Staff, November 16, 2011; Image:havyard

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Posted on November 16, 2011