Olympic has signed an agreement to build two of the world’s most energy-efficient construction vessels, marking a significant milestone in their commitment to sustainable maritime operations. This follows a record-breaking year for the company, with a projected pre-tax profit exceeding NOK 800 million.
These vessels, designed by Kongsberg Maritime in close collaboration with Olympic, will feature the UT7623 SEV (Sustainable Energy Vessel) design and exceed the requirements of the Paris Agreement by a significant margin. The project will generate contracts worth approximately NOK 1 billion for Norwegian businesses, including NOK 700 million for the maritime cluster in Northwestern Norway.
The vessels will be built at the CMHI shipyard in Shenzhen, a leader in constructing advanced offshore vessels with Norwegian design and equipment.
Stig Remøy, Olympic Subsea’s majority owner, shared: “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.”
He added: “Strengthening the maritime cluster in Sunnmøre is an investment in our own future. In the long run, it secures our values and jobs while also benefiting local communities. This is a winning formula that we will continue to follow.”
Olympic Subsea’s fleet expansion will serve both renewable energy and oil & gas sectors. The newbuilds, scheduled for delivery in the summer of 2027, aim to be versatile, flexible, and the most energy-efficient vessels in their class.
Remøy concluded: “The vessels we have now contracted can be used for infrastructure work in both the renewable energy and oil & gas sectors. They are tailored to the ongoing energy transition that the world is witnessing, an area where Olympic has been a leader for years.”
The company’s strong financial performance continues to support its strategic growth, with fleet revenue for 2024 expected to reach NOK 1.6 billion, more than double 2023’s figures.
“In times like these, it is essential to be forward-thinking. That is why Olympic is now building the world’s most energy-efficient vessels, which not only meet but exceed customers’ ever-increasing expectations for environmentally and climate-friendly operations.” – Stig Remøy
