Rolls-Royce Inks Service Deal for 74 Vessels

UK-based engineering company Rolls-Royce has signed a three-year service agreement with Siem Offshore and Subsea 7 covering a total of 74 offshore vessels.

Under the deal, Rolls-Royce will maintain and service all of the equipment it has delivered to the two companies’ offshore vessels.

“We have delivered equipment to around a quarter of the world’s registered fleet. As a result, we also have service assignments and long-term agreements with a large number of ship owners globally. We also have a network of service stations at 34 locations world-wide, so we can be close by whenever equipment needs servicing or repair,” Knut Hovland, Rolls-Royce, Director, Marine Services, said.

At present, aftermarket services account for roughly 40 per cent of Rolls-Royce Marine’s revenues. Long-term agreements account for around a quarter of this. The company is now exploring digital opportunities to provide ship owners with a growing range of new and more effective service solutions.

These include new types of services based on surveillance of ships’ operations and equipment from control centres located on shore.

“We are particularly pleased to sign new service agreements in these current times. We have obviously been affected by the fact that many vessels in the offshore market are still laid up, and it will be interesting to see what impact this will have on the service market going forward,” Hovland added.

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