Volstad orders Subsea IMR

The contract for the new vessel, which will measure 128.5m by 25m and is of ST-259 design, was signed on 4 July 2013.

The total project cost is thought to be around NOK800m (£87.8m).

Norwegian shipbroking and advisory company, Fearnley Offshore Supply AS has facilitated the new build contract between the two companies and has participated in the development of the design.

Fearnley will also handle the chartering of the new ship.

The vessel is expected to be delivered by Q4 of 2015.