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Eastern Echo Builds Seismic Ships

Maritime Activity Reports, Inc.

May 31, 2007

The newly formed, Dubai-based shipping company Eastern Echo is building four ships of the Ulstein SX124 design. These will be the first seismic vessels of Ulstein design and will be built with the Ulstein X-BOW. In total, five shipowners have chosen this new bow concept.

”Ulstein Design is a young ship design company that has gained much interest worldwide. The contracts with Eastern Echo are important for Ulstein Design, as their portfolio also will cover the seismic area. The engineering department of Ulstein Verft are busy in the development of the project, and for Ulstein Elektro these contracts are all-time highest. The international focus in Ulstein Design is thus important for the Ulstein Group in total, says deputy CEO, Tore Ulstein.

“My experience is that the most complete and most knowledgeable environment in seismology and the offshore industry is in Norway. The ULSTEIN X-BOW®- concept is interesting and an improvement compared to traditional ship designs. We are convinced this will be a good design for us, particularly with regard to the environment”, says Director Peter Zickerman of Eastern Echo. “It is very important to us that the crew have good, safe working conditions, and we believe this design will be an important contribution towards that end.”

Sales manager Lars Ståle Skoge of Ulstein Design says the contracts are a breakthrough for Ulstein Design and the new bow concept in the seismology market.

“We commend the shipping company for the faith they have shown in us by committing to these new designs,” he says, and continues, “Most of the main equipment is also delivered by Ulstein Design. The contracts amount to approximately NOK 400 million. Many of the project’s financial backers are Norwegian, as are many of Ulstein Design’s subcontractors. Ulstein Elektro has extensive system deliveries and ODIM will be supplying a complete handling solution for seismic equipment.

The vessels will be built at the Barreras shipyard in Vigo, Spain. The first ship will be ready for operation at the end of 2008 and the three remaining ships will be delivered a few months apart during 2009. All four ships will operate worldwide. They are equipped for 3D seismology and have up to 10 streamer winches each.

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