Subsea 7, Siem Sign 74-vessel Rolls Royce Service Agreement

Siem Offshore and Subsea 7 have signed a joint three-year service agreement with Rolls-Royce covering 74 offshore vessels. This is the first agreement the two Siem-owned companies have signed with the same service provider.

Under the agreement, Rolls-Royce will maintain and service all of the equipment it has delivered to the two companies’ offshore vessels.

Steinar Sandberg, Siem Group, Head of Group Procurement, said: “Naturally, we believe we can save money by jointly entering into this kind of service agreement. We have a modern and technically advanced fleet that requires good follow-up throughout the vessels’ working lives.”

Knut Hovland, Rolls-Royce, Director, Marine Services, said: “We have delivered equipment to around a quarter of the world’s registered fleet. As a result, we also have service assignments and long-term agreements with a large number of ship owners globally. We also have a network of service stations at 34 locations world-wide, so we can be close by whenever equipment needs servicing or repair.”

At present, aftermarket services account for roughly 40% of Rolls-Royce Marine’s revenues. Long-term agreements account for around a quarter of this. The company is now exploring digital opportunities to provide ship owners with a growing range of new and more effective service solutions. These include new types of services based on surveillance of ships’ operations and equipment from onshore control centers. Rolls-Royce recently signed its first “power-by-the-hour” agreement with the Norwegian logistics and cargo company Nor Lines.

Source: www.oedigital.com