Havyard finds buyer for PSV originally ordered by Fafnir

The Norwegian shipbuilder Havyard has found a buyer for a newbuild platform supply vessel originally ordered a few years back by Iceland’s Fafnir.

Illustration: Polarsyssel vessel delivered to Fafnir by Havyard in 2014 / Image by SP Mac / Flickr - Shared with permission from the photographer
Illustration: Polarsyssel vessel delivered to Fafnir by Havyard in 2014 / Image by SP Mac / Flickr – Shared with permission from the photographer

This should have been the second PSV delivered by Havyard to Iceland’s Fafnir as Havyard delivered the Polarsyssel platform supply vessel to Fafnir Offshore back in September 2014.

While Havyard was building the Polarsyssel, Fafnir had in April 2014 ordered the vessel in question from Havyard, designed to be equipped with a hybrid battery powered diesel-electric propulsion system and originally scheduled for delivery in July 2015.

After initially agreeing to delay the delivery, Havyard in January 2017 canceled the PSV delivery order deal it had had with Fafnir Offshore, as the latter failed to secure a long-term charter or financing which was a pre-requisite for the delivery.

Havyard then said it would work to obtain a substitute sale of the Havyard Design 833 WE platform supply vessel.

In an update on Thursday Havyard said it had entered into a new shipbuilding contract with a foreign customer for the completion and delivery of the vessel, without disclosing the name of the client.

Havyard said the contract would “basically constitute completion of the original project with some minor modifications.”

Delivery of the vessel is planned to take place in April 2020.

“Net profit for the project is calculated to be low, but the contract will provide an immediate liquidity effect due to re-allocation from stock values to cash from advance payments,” Havyard said.

Offshore Energy Today Staff


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