Norway’s Vard has won a contract to convert a large platform supply vessel it delivered 16 years ago into a much-needed cable layer.
The Fincantieri-owned shipbuilder said it would complete work on the 5,200-dwt TI Infinity (built 2008) in the third quarter of this year at its Vard Brattvaag yard.
Canadian owner IT International Telecom Marine bought the ship for conversion for $10.3m in November 2021 from Norway’s Standard Supply.
VesselsValue now assesses the vessel as worth $20.4m after recovering offshore markets and scarce modern tonnage pushed up asset prices.
The PSV was built at Vard Brattvaag and delivered to Volstad Maritime in 2008 under the name Volstad Princess.
“Returning to the yard where she was built provides unique efficiencies, decreasing time to market for an industry in dire need of these specialised ships,” said Louise Thivierge, general manager at IT.
“Starting with an extremely capable vessel was of utmost importance to IT. Combined with upgrades to the latest generation submarine cable handling and burial equipment, IT Infinity will be prepared to perform the various tasks required of her by IT’s customers around the world,” she added.
It has one other cable laying vessel, plus another PSV.
Thivierge said the project is “the first of many” in IT’s mission to adapt to the ever-changing demands of the submarine cable space.
Vard’s technology subsidiary, Vard Electro, is involved in the project through the installation of cable and new switchboards as well as updating existing electrical systems.
“We will now use our core competence and long experience in design and construction of advanced cable laying vessels to meet IT Telecom’s needs in the market,” Vard Services senior vice president Wilhelm Eggesbo said.
