Eidesvik teams with Agalas to order CSV with option of four more

Norway’s offshore vessel owner Eidesvik Offshore and compatriot Agalas have joined forces to build a new construction support vessel (CSV), which will be equipped to perform inspection, maintenance, and repair (IMR) work.

The vessel, costing about €81.5m, is set to be built at the Sefine shipyard in Turkey and will be owned by an entity to be named Eidesvik Agalas AS, where Eidesvik will be the majority owner with 50.1%. The remaining shares will be owned by Northern Norway shipowners Agalas.

The planned delivery for the vessel is early 2026 and Eidesvik Agalas AS has been granted options for 4 additional vessels. The vessel for the subsea and offshore wind operations will be equipped with methanol engines and a battery hybrid system.

As the shipowner Eidesvik explains, the financing is a combination of equity from both shareholders and around 70% debt financing from Sparebank 1 Nord-Norge and Eksfin. Eidesvik’s share of equity will come from cash on hand.

Eidsvik will have full management of the vessel and the vessel is scheduled to commence on a 3 to 5-year time charter with Reach Subsea.

Gitte Gard Talmo, chief executive and president of Eidesvik Offshore, said: “By renewing our fleet with a low emission, favourably priced and versatile vessel we confirm our ability to deliver on our strategy. This vessel, along with the options for 4 additional vessels, will increase our capacity and competitive edge in the future energy mix.”

Together with designer NSK Ship Design, Agalas has developed a vessel, 99.9 metres in length and breadth of 21 metres, which can accommodate 100 people. Equipped with a 150-metric tonne heave-compensated crane and a spacious deck area of approximately 900 square meters she is well-suited for conducting IMR and construction work.