Olympic Subsea signs for newbuild offshore construction vessel pair

Norway's Olympic Subsea has signed an agreement to build two energy-efficient construction vessels for the offshore industry.

These vessels, designed by Kongsberg Maritime in collaboration with Olympic, will be built at the China Merchant Heavy Industries shipyard in Shenzhen, and outfitted with Norwegian equipment.

"Olympic has taken a leading role in the transition to environmentally and climate-friendly vessels, and this marks a new milestone in that journey," claimed Stig Remøy, Olympic’s majority owner.

"These vessels will set a new standard for energy consumption and leave an extremely low climate footprint."

Olympic’s fleet expansion will serve both the renewable energy and oil and gas sectors.

The newbuilds, scheduled for delivery in the summer of 2027, aim to be versatile, flexible, and, "the most energy-efficient vessels in their class".

Olympic said its fleet revenue for 2024 was expected to reach NOK1.6 billion ($140 million), more than double 2023’s figures.

“In times like these, it is essential to be forward-thinking," added Remøy. "That is why Olympic is now building the world’s most energy-efficient vessels, which not only meet but exceed customers’ ever-increasing expectations for environmentally and climate-friendly operations.”