Olympic Orders Two Energy-Efficient Offshore Vessels

Norwegian offshore operator Olympic is expanding its fleet with two newly contracted offshore construction vessels, set to be built at China Merchants Heavy Industry shipyard in Shenzhen.

According to Olympic, led by Stig Remøy, the vessels will be among the most energy-efficient in their class and are scheduled for delivery in the summer of 2027. They will operate in both the renewable energy and oil and gas sectors.

While the cost of the project has not been disclosed, Olympic stated that it would generate approximately NOK1bn ($89.3m) in contracts for Norwegian businesses, with NOK700m allocated to the maritime sector in Northwestern Norway.

The ships will be built using the Kongsberg Maritime UT7623 SEV (sustainable energy vessel) design and are expected to “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, the company’s majority owner.

The fleet expansion comes on the heels of strong financial performance, with Olympic anticipating a fleet revenue of NOK1.6bn for 2024—more than double its 2023 earnings.

Previously, in 2022, Olympic placed an order for two methanol-ready offshore wind construction service operation vessels (CSOVs) from Norwegian shipbuilder Ulstein. These vessels, named Olympic Boreas and Olympic Notos, were delivered in July and November 2024, respectively.