Stavanger, October 29 2025: In order to meet current and future demands for
offshore construction projects, Ocean Installer, a subsidiary of Moreld ASA
has called off a charter extension for the advanced multi-purpose offshore
construction vessel "Normand Vision".
The extension agreed with ship owner Solstad includes a new option for year
2029, but also commercial agreement to further extend the charter-party
options to the end of 2031.
"With this extension, Ocean Installer can sustain support for their current
operations and it positions them to take advantage of emerging opportunities
across global energy markets", said Geir Austigard, CEO of Moreld.
Normand Vision is a high capacity Construction Support Vessel (CSV) built for
heavy construction work, and is highly advanced when it comes to station
keeping, efficiency and operational performance. The vessel was designed in
co-operation with Ocean Installer and is purpose built for SURF (Subsea
Umbilicals, Risers and Flowlines) operations in demanding conditions.
"Over the last decade Normand Vision and her crew has served us well. We have
used Normand Vision in the SURF, mooring, IRM, renewables and decommissioning
markets, and successfully executed projects all around the globe. We look
forward to continuing our strong relationship and collaboration with Solstad,"
said Kevin Murphy, Ocean Installer CEO.
For further inquiries, please contact:
CEO Geir Austigard
Telephone: +47 992 47 500
Email: Geir.austigard@moreld.com
Notes to Editors
About Moreld
Moreld is an industrial group listed on Oslo stock exchange. They provide
blue-chip customers with services across offshore energy, marine and onshore
industries. The Group consists of Ocean Installer, Moreld Apply and Global
Maritime with subsidiaries, and has a combined revenue of NOK 9 billion, and
2500 employees.
About Ocean Installer
Ocean Installer is a leading marine construction company that specializes in
providing installation services, as well as inspection, maintenance, and
repair of offshore subsea infrastructure. Ocean Installer was founded in 2011,
has been part of the Moreld group since June 2024, and has 14 years of
experience delivering large and complex subsea projects worldwide. Ocean
Installer is headquartered in Stavanger, with regional offices in key
locations including Oslo, Aberdeen, and Dubai.
This information is subject to disclosure under the Norwegian Securities
Trading Act, ยง5-12. The information was submitted for publication at
2025-10-29 08:00 CET.