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Axis Offshore exercises floatel option at Cosco

Axis Offshore exercises floatel option at Cosco
Axis Offshore has taken up an option for a second semi-submersible floatel to be built by Cosco Shipyard Group.

The GM500A design Axis Vega complies with Norwegian rules and is designed to operate in the North Sea and provide accommodation for up to 500 crew and guests. The floatel is expected to be delivered in by the end of 2015 while sister semi-submersible Axis Nova will be delivered in first quarter 2015.

Axis Offshore did not reveal the price of the newbuilding but the first contract signed in 2012 was valued at over $200m by Cosco.

”While we see strong potential for our newbuildings in the North Sea, we remain keen to expand our presence in other regions as well,” said Jesper Kragh Andresen, ceo of Axis Offshore.

Axis Offshore is a joint venture between HitecVision and J. Lauritzen and is based in Singapore.