74-vessel Rolls-Royce contract

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

Knut Hovland, director of marine services at Rolls-Royce, commented: “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.”

Aftermarket services account for roughly 40% of Rolls-Royce Marine’s revenues. Long-term agreements account for around a quarter of this. The company said it is currently exploring the provision of digital services based on surveillance of ships’ operations and equipment from control centres located on shore.

Speaking of the contract, Mr Hovland added: “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.”

This is the first agreement the companies have signed with the same service provider.