Marine Link
Monday, October 24, 2016

NAO Contracts Two Vessels from ULSTEIN

February 12, 2014



The offshore shipping company Nordic American Offshore (NAO) (NAO) has contracted two platform supply vessels (PSVs) of ULSTEIN’s PX121 design.

These vessels will be number seven and eight which NAO buys from ULSTEIN. In December 2013, NAO invested in six vessels of the PX121 design, which had been constructed at Ulstein Verft. The two new vessels are planned for delivery from Ulstein Verft in January 2015. The total value of these eight vessels exceeds NOK 2 billion.

In total, ULSTEIN has currently sold 18 vessels of this design. The six previously built at Ulstein Verft have all been working on firm contracts in the North Sea. Ten are constructed or under construction at yards in China or southeast Asia.

ULSTEIN’s decision to focus on these ship types resulted from careful market analysis. In the North Sea, these PSVs are considered medium-sized, and they have an optimum combination of fuel efficiency and deadweight. They have a capacity and performance that approaches those of larger PSVs. They can take on most of the tasks usually handled by slightly larger PSVs. Both investment cost and operating cost are lower.

The new NAO vessels will be hull number 303 and 304 at Ulstein Verft, which currently has five vessels on order.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News