Norway’s Olympic is expanding its fleet with a pair of offshore construction vessel newbuilds contracted at China Merchants Heavy Industry shipyard in Shenzhen.
The Stig Remøy-led offshore vessel owner said the vessel will be the most energy-efficient in their category and delivered in the summer of 2027 for operations in both renewable energy and oil and gas sectors.
No price has been divulged, but Olympic noted that the project would generate contracts worth approximately NOK1bn ($89.3m) for Norwegian businesses, including NOK700m for the maritime cluster in Northwestern Norway.
The ships will feature the Kongsberg Maritime UT7623 SEV (sustainable energy vessel) design and “exceed the requirements of the Paris Agreement by a significant margin”.
“Olympic has taken a leading role in the transition to environmentally and climate-friendly vessels, and this marks a new milestone in that journey. These vessels will set a new standard for energy consumption and leave an extremely low climate footprint,” said Remøy, Olympic’s majority owner.
The company said the fleet expansion move comes on the back of its strong financial performance, with fleet revenue for 2024 expected to reach NOK1.6bn—more than double the 2023 numbers.
In 2022, Olympic ordered two methanol-ready offshore wind construction service operation vessels (CSOVs) from compatriot shipbuilder Ulstein, which were delivered in July and November 2024 and go under Olympic Boreas and Olympic Notos, respectively.
