Norway's Norside has acquired a platform supply vessel (PSV) for conversion into a wind farm ship.

The seller, shipbuilder Ulstein Verft's Blue Ship Invest platform, said the 4,100-dwt Farland (built 2016) will be turned into a walk-to-work vessel, moving out of the oil and gas sector in common with a number of ships in struggling markets.

"The ship has currently accommodation for 22 people, and will, after the conversion, have accommodation for...60 persons. A new accommodation module will be installed, and a battery package, as well as a gangway and cranes," Norside chief executive Hans Martin Gravdal said.

The ship is a flexible design that combines a transit-effective hull with large deck space. This translates to lower fuel consumption and reduced emissions while maintaining high operability, Norside believes.

Norside also owns a floating accommodation ship and a multipurpose support ship, but these are chartered out and the Bergen-based company needs more capacity.

Pleased the ship will have a new life

"We are pleased that a PX121 design will be converted for use in the growing offshore wind industry, giving the vessel a new life in the renewable segment," said Ulstein CEO Cathrine Kristiseter Marti.

OSM Offshore Bergen and Vestland Offshore will manage the ship, under the new name Norside Cetus.

The vessel was originally built by Ulstein Verft and delivered under the name Blue King in 2016.

The Farland was bareboat-chartered to domestic operator Sverre Farstad & Co when it started operations in 2019, but was returned to the yard last year as Sverre Farstad focused on offshore wind through a new joint venture company, Norwind Offshore.

Big investment

Gravdal told the Finansavisen daily that the company is investing around NOK 200m ($22.3m) in the conversion of the Farland.

VesselValue assesses the ship as worth $14.4m.

The PSV is being rebuilt at the Fjellstrand shipyard, for completion in September or October this year.

No charter has yet been fixed, but Gravdal told Finansavisen: "We see good opportunities for contracts, and expect that we have a contract in place before the ship is completed."