Skandi Acu financed by GIEK and Export Credit Norway

GIEK has issued a buyer credit guarantee of USD 230.4 million in the financing of TechDOF Brasil’s new pipelay support vessel (PLSV) Skandi Acu. The guarantee covers loan from Export Credit Norway.

The vessel was delivered from Vard Søviknes in Norway in January for further installation of topside equipment at Huisman’s facilities at Schiedam, Netherlands. The vessel is expected completed in April and will operate in Brazil on an eight-year contract with Petrobras starting mid-June this year.

Skandi Acu is equipped with a 650 tons vertical lay system, two baskets for storage of product as flexible and umbilicals flexpipes below deck (in total 4000 tons capacity), two 50 tons deck cranes, and tuggers and loading tensioners on deck.

TechDOF Brasil is a joint venture equally owned by France-based Technip and Norway-based DOF Subsea.

Spesificantions for Skandi Acu:

  • Length over all: 146 m
  • Breadth: 30 m
  • Flag: NIS
  • Accommodation: 120 p
  • Engines: 6 x 3840 kW

GIEK can issue a buyer credit guarantee for up to 90 percent of buyer’s loan, as long as at least 30 percent of the export contract consists of Norwegian goods, services or value creation. Up to 85 percent of the sales contract value may be loan financed. For vessels, a guarantee may be issued for up to 12 years. You can read more about buyer credit guarantee and ship financing here.

Photo: DOF Subsea