STX OSV Secures Contracts For Two Offshore Subsea Construction Vessels For Siem Offshore

STX OSV Holdings Limited (“STX OSV”) is pleased to announce that Siem Offshore has declared options for the design and construction of two additional Offshore Subsea Construction Vessels (“OSCV”).

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The vessels will be equipped with a 250t AHC crane and with Launch and Recovery Systems (“LARS”) for Remotely Operated Underwater Vehicles (“ROV”). Deliveries are scheduled from STX OSV Brattvaag in Norway in 2Q 2014. The hulls of the vessels will be delivered from STX OSV Tulcea in Romania.

STX OSV already has two OSCVs under construction for the same customer in Norway, and two Platform Supply Vessels (“PSV”) in Brazil.