The selection of CIMC Raffles to construct a new multi-purpose deepwater installation and construction vessel by SBM Offshore and Solstad Offshore marks a significant capacity addition for offshore logistics and FPSO installation projects. The vessel, to be built at the CIMC Raffles Haiyang Construction Base in Shandong province, China, is slated for delivery in the first half of 2029, signaling a multi-year build cycle that will impact planning for subsea and topside installation schedules.
Joint Venture Structure
According to Splash247, the two companies formed a joint venture in early June 2026, initially signing a letter of intent with an unnamed yard. The JV ownership sees SBM Offshore holding 49.9% and Solstad Offshore holding 50.1%. This structure allows Solstad to consolidate the vessel on its balance sheet while SBM secures dedicated capacity for its offshore projects.
Vessel Specifications
The newbuild, measuring 132.6 metres in length and 32 metres in width, is designed to carry 100 persons with full hotel accommodations. Key equipment includes:
- 500-tonne active heave-compensated crane for heavy lifts in deep water
- Winch system and rotary table system for cable and pipe handling
- A-frame and outboard handling system for subsea deployment
- ROV launch-and-recovery system for remote intervention
The vessel is being built to methanol-ready standards and features DP2 dynamic positioning capability, enabling it to hold station during installation work.
Operational Role
| Role | Entity |
|---|---|
| Ship management | Solstad Shipping |
| Primary charterer | SBM Offshore (for its own FPSO projects) |
| Third-party charter | Available when not required by SBM |
Solstad Shipping will act as ship manager, according to the report. SBM Offshore will charter the vessel primarily for the installation of FPSOs and other ocean infrastructure. When not deployed on SBM projects, the joint venture may charter the vessel to third parties, providing a potential revenue stream and additional capacity to the market.
“This is an important milestone for us and for our partnership with SBM Offshore. We are pleased to have the shipbuilding contract in place and to start our collaboration with CIMC Raffles on the construction of this next-generation vessel,” said Lars Peder Solstad, CEO of Solstad Offshore, in the article.
Implications for Offshore Logistics
The choice of a Chinese yard — CIMC Raffles — continues a trend of offshore vessel construction shifting to Asian shipbuilders due to competitive pricing and advanced capabilities. The vessel's methanol-ready design aligns with the industry's push toward decarbonization. For logistics managers and project planners, the 2029 delivery means that upcoming deepwater projects requiring heavy lift and ROV support will need to secure alternative vessels in the interim. The potential for third-party chartering after SBM's needs are met could ease tight supply for FPSO installation and subsea construction work later in the decade.
Operators should monitor the build schedule at the Haiyang Construction Base for any delays that could impact availability. The vessel's DP2 and 500-tonne crane specifications position it as a versatile asset for both SURF (subsea, umbilical, riser, and flowline) and topside installation.
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