GIEK Backs Umoe Firmus

The Norwegian Export Credit Guarantee Agency (GIEK) has issued a buyer credit guarantee for the new WaveCraft Surface Effect Ship Umoe Firmus, constructed at Umoe Mandal shipyard.

GIEK has guaranteed for loan issued by Export Credit Norway corresponding to 70 percent of the loan amount, while DNB has guaranteed for the last 30 percent.

Umoe Firmus, owned by Umoe Wind, will enter a six-month charter to operate on the Sheringham Shoal Offshore Wind Farm on the UK shelf.

The 317MW Sheringham Shoal Offshore Wind Farm is located from 9-17 miles off the coast of North Norfolk in the southern North Sea, and Umoe Firmus will operate from the port of Wells-next-the-Sea, Norfolk, which is the location of the Sheringham Shoal O&M base.

The vessel is based on design and technology developed by Umoe when the company constructed vessels for the Norwegian navy.

Umoe Firmus is the second vessel of its kind and the sister vessel of Umoe Ventus, which GIEK issued a buyer credit guarantee for in February.

The vessel is expected to be delivered by mid-January 2016, and will be operated by Tidal Transit Limited.