Ulstein Verft AS has signed a contract with Island Offshore IX KS regarding the
construction of an ULSTEIN P105 platform supply vessel, with an option for a further vessel of the same type. The vessel in order is worth around NOK 200 million. The work can start immediately and will guarantee the shipyard work
until April 2005.
At an internal meeting in Ulsteinvik the Ulstein Group's employees watched
as the contract between Island Offshore IX KS and Ulstein Verft was signed. The
contract involves the construction of a platform supply vessel in the ULSTEIN
series, with the option for a second one.
Island Offshore IX KS is owned by the vessel investment company Island Offshore
Shipholding L.P., together with the investment companies Naustneset, Dalseth,
Bakkely and the Ulstein Loen family. All are also shareholders in Ulstein
Mekaniske Verksted Holding ASA. Earlier this year, Island Offshore Shipholding
established an operating company, Island Offshore Management
AS, which until now
has operated one vessel. The company will also take over responsibility for
operating the new vessel from Ulstein Verft. The Island Offshore group is an
exciting and important new partner for the shipyard.
"The Island Offshore Group has local roots and has now chosen to invest locally.
Similarly the new vessel will be named "Island Patriot", an almost symbolic
name. This is very important for employment and will greatly contribute to
wealth creation, both locally and in the region," says the managing director of
Ulstein Verft, Tore Ulstein.
Tore Ulstein is also the managing director of the vessel design company, Ulstein
"Island Patriot will be the fourth vessel realized in the ULSTEIN P series
(platform supply vessels) and the ninth of our own design since the
establishment of Ulstein Design in 2000. The fact that we have managed to gain a
foothold in vessel design in such a short time shows that we are competitive. We
are receiving positive feedback from the shipowners that have vessels of our
design in operation," says Ulstein.
The ULSTEIN P105 is a large, flexible platform for supply operations. The design
has a large load capacity and can carry almost 5,000 tons of cargo, 2,840 tons
of this as deck cargo. It has a diesel electric propulsion system, low fuel
consumption and noise levels, and good seakeeping abilities. The vessel is 86.2
meters long and 19 meters wide.
"An ULSTEIN P105 is a high quality platform supply vessel, designed to meet most
of the requirements made of a modern supply vessel. The good below deck capacity
means that it is well suited for gaining long-term contracts," confirms the
managing director of Island Offshore Management, Håvard Ulstein.