Olympic has signed an agreement to build two construction vessels that will be the most energyefficient in their category worldwide. This agreement will generate contracts worth approximately NOK 1 billion for Norwegian businesses, including NOK 700 million for the maritime cluster in Northwestern Norway.

The fleet expansion follows a year that is on track to be the most successful in the company’s history, with a projected pre-tax profit exceeding NOK 800 million.

A LEADING ROLE 
"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," says Olympic’s majority owner, Stig Remøy.

The vessels have been designed by Kongsberg Maritime in close collaboration with Olympic, leveraging the company’s extensive experience over several decades in the oil, gas, and offshore wind sectors. They will be the first to feature the UT7623 SEV (Sustainable Energy Vessel) design and will exceed the requirements of the Paris Agreement by a significant margin.The vessels will be built at the CMHI shipyard in Shenzhen, renowned for its strong track record in constructing advanced offshore vessels featuring Norwegian design and equipment.

WILL MEET THE HIGH STANDARDS 
"The shipbuilding contract was awarded based on a thorough evaluation of the shipyard’s quality, experience, and references. We are confident that they will meet our high standards and expectations," says Remøy.

He is particularly pleased that many local and long-standing partners will benefit from the newbuilds through the delivery of critical equipment and technology.

"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," Remøy adds.

STRONG MARKET CONDITIONS 
Olympic’s fleet has grown over the past year during a period of strong market conditions. Last autumn, the company took delivery of two CSOVs from Ulstein Verft. Now, Olympic has contracted an additional two vessels, scheduled for delivery in the summer of 2027.

In planning these vessels, Olympic has set two key goals: they must be the most energy-efficient and environmentally friendly of their kind, and they must be versatile and flexible in their use.

"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," says Remøy.
  
He emphasizes that the newbuilds are a result of the favorable market conditions the industry has experienced in recent years. Olympic maintains a low debt level, and preliminary financial results for 2024 confirm the group’s financial strength. The fleet’s revenue last year was NOK 1.6 billion, with EBITDA expected to reach approximately NOK 1.08 billion and pre-tax profit at NOK 800 million—more than double the figure from 2023.

"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," says Remøy.