Rolls-Royce lands service agreement for 74 offshore vessels

Two offshore vessel operators, Siem Offshore and Subsea 7, have signed a joint three-year service agreement with Rolls-Royce, which covers a total of 74 offshore vessels.

This is the first agreement the two Siem-owned companies have signed with the same service provider, Rolls-Royce said on Tuesday.

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

Steinar Sandberg, Siem Group, Head of Group Procurement, said: “Naturally, we believe we can save money by jointly entering into this kind of service agreement. We have a modern and technically advanced fleet that requires good follow-up throughout the vessels’ working lives.”

Knut Hovland, Rolls-Royce, Director, Marine Services, said: “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.”

At present, aftermarket services account for roughly 40 percent of Rolls-Royce Marine’s revenues and long-term agreements account for around a quarter of this. The company noted it is now exploring digital opportunities to provide shipowners with a growing range of new service solutions. These include new types of services based on surveillance of ships’ operations and equipment from control centers 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,” said Hovland.

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