TechnipFMC, Bygg nr. 801 ved Vard Søviknes, VARD 3 03 "Deep Discoverer"

rd77

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HALDANE ex-HARKAND HALDANE could be close to a sale, according to Tradewinds last Friday. Asking price is USD120 million apparently, but insiders predict a sale to TechnipFMC before the summer for around USD 100 million. Original order value was more than NOK 1 billion at the end of 2013, which amounted to USD 179.8 million at the time. Which the decline in value of the Norwegian Krone, the value would now be USD 123.4 million. Replacement value of the ship is currently estimated at around USD 130 million. Let's wait and see.
 

Refvik

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VARD SECURES CONTRACT FOR ONE DIVING SUPPORT AND CONSTRUCTION VESSEL FOR HARKAND GROUP

Singapore, 30 December 2013 – Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, is pleased to announce that it has secured a contract with a new customer, Harkand Group (Harkand), for the design and construction of one Diving Support and Construction Vessel. The value of the contract exceeds NOK 1 billion.

The vessel is of VARD 3 03 design, specially designed and equipped for diving and subsea operation duties with a high focus on good sea-keeping abilities, excellent station keeping performances and low fuel consumption. The vessel will be fitted with a 250 ton offshore crane, a ROV hangar, and a Twin Bell 18 Man Saturation Diving System, supporting split level diving operations to a maximum diving depth of 300 meters.

The vessel is scheduled for delivery from Vard Søviknes in Norway in 2Q 2016. The hull of the vessel will be delivered from Vard Tulcea in Romania. The contract comprises an option to place an order for a second similar vessel.

Headquartered in London, Harkand is a growing global subsea Inspection, Repair and Maintenance (IRM) group with operations in four regions across the globe; Africa/Middle East, Asia Pacific, Europe, and North America. Harkand’s expertise is in subsea inspection, repair and maintenance as well as light construction, construction support and survey services. Formed in 2013 through the merger of Iremis, Integrated Subsea Services (ISS), Andrews Survey and Veolia Marine Services, following investment by Oaktree Capital Management, the group today has sales in excess of USD 400 million and aims to grow to USD 1 billion by 2017.

Overall length: 121 m | Breadth: 23 m | Diving Support and Construction Vessel

VARD 3 03

Illustrasjon: Vard
 

Refvik

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INFORMATION ON HARKAND, A COUNTERPARTY

The Board of Directors of Vard Holdings Limited (the "Company") wishes to inform that on 6 May 2016, the Company has been notified that Harkand Group (“Harkand”) has entered into administration.

Harkand has one Diving Support and Construction Vessels under construction at VARD,
originally contracted in December 2013 for delivery from Vard Søviknes in 2Q 2016. The vessel is in an advanced stage of construction.

The Company is currently evaluating its position towards Harkand. If the shipbuilding contract is unlawfully terminated by the customer, VARD will contractually be entitled to retain the advance payments already received, equivalent to 20% of the original contract price, and to resell the vessel. The payments already received could facilitate a resale of the vessel.

Vard 3 03 "Harkand Haldane"

Foto: Ukjent via Vard
 

Refvik

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Nermer det seg avklaring på salg av "Haldane"?

Blir spennande å sjå kven som kjøper den, TechnipFMC kanskje?

Er vel to-tre måned igjen med arbeid på denne før den er heilt ferdigstilt...
 

Refvik

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Seems like the sale of "Haldane" is now concluded for $125 millon - maybe via some kind of charter arrangement to a South-American consortium?

Handover to new owner will be 6th of April
 

Refvik

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"B801" på prøvetur utenfor Sulesund i ettermiddag

Foto: © Oddgeir Refvik
 

Refvik

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Skrev ned skipsverdier i 2017-rapporten:

Vard måtte forklare seg for børsen – er ikke kvitt milliardskip

Et dykkerskip som Vard har «brent inne med», var nylig på prøvetur. Konsernet vil ikke fortelle om de har en kunde på kroken.

Dykkerskipet hadde en kontraktsverdi på mer enn én milliard kroner. Men rederiet fikk økonomiske problemer og selv om kontrakten ikke er offisielt kansellert, regnes det som lite trolig at de vil betale for skipet.

I en børsmelding forrige uke svarer Vard på flere spørsmål fra Singapore-børsen om 2017-resultatet som nylig ble lagt fram.

Ett av spørsmålene går på utregningen av varelageret, som blant annet dreier seg om dykkerskipet. I tillegg gjelder det to forsyningsskip bygd ved Vung Tau-verftet i Vietnam.

Skipet var nylig på prøvetur, men Akselvoll ønsker ikke å kommentere salgsprosessen, eller om et salg er nært forestående. Det er blitt spekulert i at en kjøper kan sikre seg det svært avanserte skip på «billigsalg».

Les meir på sidene til Sunnmørsposten (Krever innlogging)
 

Refvik

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"B801" til kai ved Terøy i nerheten av verftet i går kveld, fortsatt ikkje avklaring på salg enda...



Begge foto: © Oddgeir Refvik
 

Refvik

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Seems to be sold?

Below from "Condensed consolidated interim financial information as at and for the three months ended 31 March 2018:

"In May 2018 the company successfully delivered an OSCV vessel . In order to ensure delivery and avoid potential cancellation exposure, the Group agreed a discount of USD 45 million (NOK 354 million). This amount affects revenue negatively in the first quarter in an amount of NOK 354 million as the settlement has been classified as variable consideration"
 

Refvik

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Seems like the sale fell throught, and Vard now try to see if someone else is interested with some companies already have done new inspections lately...
 

Refvik

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TechnipFMC have bought this one with handover early 2019, Vard will then complete it for the 2019 season in the North Sea

But without Norsok, we will not see this one working in Norwegian waters...
 

Refvik

Administrator
Staff member
VARD SIGNS SALES AND PURCHASE AGREEMENT FOR THE SALE OF A DIVING SUPPORT AND CONSTRUCTION VESSEL

Singapore, 7 September 2018 – Vard Holdings Limited (“VARD” or the “Company”), one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that it has signed a Sales and Purchase Agreement (“SPA”) for the sale of its diving support and construction vessel previously contracted by Harkand Group (“Harkand”). The SPA is signed with an undisclosed international customer.
The original contract with Harkand had been announced on 30 December 2013, followed by an update announcement in May 2016 when the Company was notified that Harkand had entered into administration. VARD has now cancelled the original contract with Harkand’s administration to facilitate entering into the new agreement.

The sale of the vessel will allow VARD to reduce the capital employed by eliminating a vessel from its inventory and reduce its liabilities by reimbursing the related construction loan with a direct benefit from lower financial charges going forward. As an additional consequence of the reimbursement of the construction loan, the company will benefit from the release of the cash posted as collateral in favor of the lending bank with a correspondent positive impact on the liquidity position of the Company. The impact of the expected transaction on EPS was already reflected in the Q2 2018 announcement through an adjustment to net realizable value of vessels in inventory.

The vessel is of VARD 3 03 design, specially designed and equipped for diving and subsea operation duties. The vessel is outfitted with a 250 ton offshore crane and a twin bell 18 man saturation diving system, supporting split level diving operations to a maximum diving depth of 300 meters. Delivery is scheduled from Vard Søviknes in 1Q 2019, and the vessel will in the meantime be finalized, tested and prepared for operations.

The SPA has been entered into in the ordinary course of business of the Company. None of the Directors or the controlling shareholders of the Company have any interest, direct or indirect, in the above agreement.
 

Refvik

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Staff member
"Deep Discoverer" overlevert 8. januar fra Vard Søviknes, ligger nå i Leith ser eg...
 

Refvik

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TechnipFMC acquires Dive Support Vessel for North Sea Market

ABERDEEN, 11 March 2019 - TechnipFMC has added to its international fleet of subsea pipelay, diving and construction ships after purchasing a new-build diving support vessel - the Deep Discoverer.

The company signed a deal with VARD shipyard in Norway to purchase the vessel in late 2018. The vessel is currently undergoing an operational readiness programme and will begin work in the first half of 2019.

The high-quality, cost-effective vessel will primarily service the North Sea diving construction and Inspection, Repair and Maintenance (IRM) markets.

Deep Discoverer has DP3 capabilities, as well as an 18-person twin bell saturation diving system, in-built air diving spread and a 250 Te NOV Hydralift subsea crane.

This acquisition reinforces TechnipFMC’s position in the IRM sector, whilst supporting sustainable project economics for clients.

Bill Morrice, Vice President of Commercial for UK and Mediterranean at TechnipFMC, said: “This addition to our fleet not only demonstrates our steadfast commitment to diving construction operations in the North Sea, but also significantly improves our capabilities in the IRM market. Being able to deliver such a high standard of vessel at a competitive rate is further evidence of our company’s relentless drive to help our clients succeed”.

"Deep Discoverer"

Foto: via rederiet
 
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