Ulstein Inks Deals with JP Morgan for Offshore Wind CSOV Newbuilds
Norwegian shipbuilder Ulstein Verft has signed contracts with J.P. Morgan Asset Management for offshore wind Construction Service Operation Vessel (CSOV) newbuilds.In 2023, Bernhard Schulte Offshore ordered the design and construction of two such vessels from Ulstein under a contract which included options for two plus two vessels.These options have been transferred to institutional investors advised by J.P. Morgan Asset Management, who declared the first two.The CSOVs will beâŚ
Guvnor Ulstein Re-Appointed CEO of Ulstein Group
Ulstein Group CEO, Cathrine Kristiseter Marti, has decided to take on a new opportunity outside the Group, and former CEO, Gunvor Ulstein, has been appointed CEO from November 29, 2023.Ulstein had previously been CEO of Ulstein Group for nearly 22 years and represents the third generation of the family-owned group. When stepping down in 2020, she did so to continue her engagement through Ulstein Group board positions and as Chair of the Board of Ulsmo (majority owner of Ulstein Group)."We wish to thank Cathrine for her commitment to Ulstein Group for nine yearsâŚ
Ulstein Names Marti as CEO
Norwegian shipbuilder and vessel design group Ulstein announced Tuesday that its CFO Cathrine Kristiseter Marti has been promoted to replace long-serving CEO Gunvor Ulstein, who has decided to step down.Marti will take over as CEO on November 2 after six years as Ulstein Group's CFO.The transition comes amid changes to management and strategy at the group, which includes several companies focused on various marine-related industries but mainly vessel construction and design.GunvorâŚ
Worldâs Largest Plug-in Hybrid Vessel Delivered
The worldâs largest plug-in hybrid vessel, Color Hybrid, was delivered from Ulstein Verft to Color Line. With all its innovative and new environmentally friendly solutions, the ship is an important milestone project for both Ulstein, Color Line and the maritime cluster.âStrong focus on innovation and delivering quality to our customers has always been very important to us. With broad maritime expertise, our skilled and committed employees have made a great effort to complete the Color HybridâŚ
Arctic (& Wind) Operations: Hands Across the Water
As the North American offshore wind model evolves, it is clear that fit-for-purpose, Jones Act compliant and Arctic ready tonnage will need to be part of the equation. If so, weâve got that box checked, with a little help from Europe.As of September 2018, the Walney Extension off the United Kingdom is the largest offshore wind farm in the world at 659 megawatts. There are at least 70 major wind farms, each with hundreds of wind turbines, each generating as much as 10 megawatts in offshore England, the North Sea, Russia and China.
Color Line and Ulstein Kicks Off Color Hybrid Newbuild Project
Color Line and Ulstein Verft marked the construction start-up on the world's largest plug-in hybrid ship, the 'Color Hybrid'. The hull is placed in the dock hall, and several hundred yard workers are now busy with the shipâs completion before hand-over next summer.'Color Hybrid' is a good example of the interaction in the maritime cluster, said Ulstein Verft. Color Line chose Ulstein Verft for this newbuilding project. Furthermore, the yard has contracted the subsuppliers to this project, of which about 70 per cent are local.A contract placed on a Norwegian shipyard generates ripple effecs in the cluster. About 100 of the suppliers to the 'Color Hybrid' project are NorwegianâŚ
Shipbuilder Ulstein Bags SOV Order
Ulstein Verft has signed a shipbuilding contract with the Germany-based Bernhard Schulte for a service operation vessel (SOVs) of the ULSTEIN SX195 design type developed by Ulstein Design & Solutions. The vessel will support the maintenance work of GE Renewable Energy at the German wind farm Merkur Offshore.The project has been developed in cooperation with WINDEA Offshore, which is the Bernhard Schulte's affiliate for offshore wind projects."Ulstein Verft is a very reliable yard and we are eager to start working together with ULSTEIN again.
Ulstein Verft to Build DP3 Cable Laying Vessel for Nexans
Nexans Subsea Operations has signed a shipbuilding contract with Ulstein Verft on the construction of a large, DP3 cable laying vessel. CEO Gunvor Ulstein, Ulstein Group, said: âWe are very pleased that Nexans, a solid and important player, chooses Ulstein to construct their new flag ship. We have a strong organisation with long experience in delivering advanced vessels. The contract was won in tough, international competition. We look forward to a constructive and fruitful cooperation with Nexans in the years to comeâ. The vessel will be outfitted for power cable laying, including bundle laying, cable jointing and repair and cable system protection and trenching. The ST-297 CLV is designed by Skipsteknisk, Ålesund.
Keel Laid for National Geographic Polar Ship
Lindblad Expeditions Holdings, Inc., a global provider of expedition cruises and adventure travel experiences, and Ulstein Group, Norwegian shipbuilder and ship designer, celebrated the keel laying of Lindbladâs first polar new build. The keel laying at the CRIST shipyard in Gdynia, Poland, marked a milestone in the construction of the sophisticated expedition ship, and served as the official naming ceremony of the lineâs latest addition to the Lindblad-National Geographic fleet. âWe are thrilled to announce the name of our new polar ship: National Geographic Endurance, due for delivery in the first quarter of 2020,â said Sven Lindblad, President and CEO of Lindblad Expeditions.
Ulstein: A Century of Innovation
Ulstein, now a century old, has spent the last 100 years looking to the future. Since its formation on August 9, 1917 in Ulsteinvik, Norway, the family-owned shipbuilder, designer and systems supplier said it has focused on tomorrowâs opportunities today. Over the years, Ulstein has evolved through innovation and pioneered trailblazing solutions, driven by its desire to meet shifting customer demands, commercial openings and market challenges head-on. There isnât much that remains the same in a century of operationâŚ
Color Line, Ulstein ink hybrid vessel Deal
It has now been decided that Ulstein Verft will be constructing Color Lineâs new hybrid vessel. The environmentally sound ship will be servicing Sandefjord â Strømstad from summer 2019. Ulstein won the contract in competition with several other yards. âIt is very gratifying that the Norwegian shipbuilding industry has proven its competitiveness internationally, and that Color Line contributes to the further development of the Norwegian maritime industry,â says CEO Trond Kleivdal at Color Line. âWe are very pleased that Color Line decided to proceed from a Letter of Intent to a firm contract on the construction of this hybrid vessel. This is an important milestone for us, and we are looking forward to the further cooperation with Color Lineâ, states CEO Gunvor Ulstein at Ulstein Group.
Worldâs Largest Plug-in Hybrid Vessel Ordered
Color Line and Ulstein sign a firm contract on construction of the worldâs largest plug-in hybrid vessel. Ulstein said it has won a contract to build Color Lineâs new hybrid passenger vessel to service Sandefjord â Strømstad from summer 2019. The ship will be constructed at Ulstein Verft in Norway. âIt is very gratifying that the Norwegian shipbuilding industry has proven its competitiveness internationally, and that Color Line contributes to the further development of the Norwegian maritime industry,â said CEO Trond Kleivdal at Color Line.
Worldâs Largest Hybrid Vessel Ordered
Norwegian ferry operator Color Line and shipbuilder Ulstein Verft have signed a Letter of Intent (LOI) for the construction of what will reportedly become the largest hybrid vessel in the world, a 160-meter-long passenger ferry. The Fosen-designed ferry will be a plug-in hybrid with batteries able to be recharged via a power cable with electricity from their own shore facilities or recharged on board by the ship's generators. The new vessel (with the working name Color Hybrid)âŚ
Ulstein Group Records Operating Loss of $11.5M
In 2015, Ulstein Group recorded revenues of $279.4 million and an operating loss of $11.5 million. The business areas Design & Solutions and Power & Control both recorded profits. The downturn in the offshore sector and a tricky market has to be met with adaptation and innovation, according to CEO Gunvor Ulstein. âThese are tough times. The groupâs results for 2015 were weak as a result of lower utilization of capacity and the generally challenging market situation in our business areas. We believe 2016 will also be a challenging year. Ulstein Group has had a strong focus on supplying design, construction and systems solutions to the offshore market in recent years.
Ulsteinâs X-BOW Turns 10
While new designs often grab headlines, mature designs that have enjoyed success are perhaps better indicators of true progress in marine technology. When the Ultstein X-Bow made its debut 10 years ago, some scoffed at the unusual design characteristics. They laugh no more, as the Ultstein X-Bow hull line design turns 10. Now in its tenth year, the 100th X-BOW shipbuilding contract was signed, and the X-BOWâs derivative, the X-STERN â a similar solution for the shipâs stern â has been contracted on its first two vessels.
Rescue Ship Idar Ulstein Named in Norway
The search and rescue boat Idar Ulstein was named in Ulsteinvik today, becoming the latest newbuild to join the fleet of the Norwegian Society for Sea Rescue. RS Idar Ulstein is also the first vessel in the new Ulstein class, named after ULSTEINâs long-time CEO. The new vessel Idar Ulstein was named by lady sponsor Gunvor Ulstein in a ceremony in Ulsteinvik. The 22-meter rescue vessel employs powerful twin engines and a water jet to achieve large bollard pull and reach top speeds near 40 knots. âShort response time is essential to saving lives at sea.
Ulstein Systems Ordered for New Rock Installers
Ulstein Power & Control announced it has been contracted by Chinese shipbuilder AVIC Weihai Shipyard Co. Ltd. to deliver power and control for two subsea rock installation vessels for offshore dredging and construction specialist Jan De Nul Group. According to Ulstein Power & Control, the scope of its delivery includes the power package consisting of generators, switchboards, motor control center, thruster frequency converters and motors, the automation system ULSTEIN IAS, DP system and thruster control, as well as the commissioning. Ulstein will deliver the products and systems in 2016.
X-STERN Wins âNext Generation Ship Awardâ
The X-STERN solution from Ulstein was awarded the Next Generation Ship Award at the Nor-Shipping opening conference on June 2. Innovative ship design is the main criteria in the awarding of this prize. âInnovation is at the core of what we do, and we are truly delighted to receive this recognition,â comments Gunvor Ulstein, CEO of Ulstein Group. âThe offshore industry is experiencing a downturn and eventually oil and gas supplies will come to an end. Tore Ulstein, Deputy CEO and Head of Market and Innovation, comments further, âThinking outside the box and challenging accepted ideas is at the heart of innovation. When we introduced the X-BOW ten years ago, many people commented on the unusual look of the bow and questioned its improved seakeeping characteristics.
Ulsteinâs X-BOW Turns 10
When times are tough, it is still possible to nurture and grow good ideas, says Ulstein, an provider of ship design, shipbuilding and system solutions for ships. Thatâs the story behind the ULSTEIN X-BOW hull line design, which upon its introduction 10 years ago turned the image of the shipâs bow upside down. Now in its 10th year, the 100th X-BOW shipbuilding contract was signed, and the X-BOWâs derivative, the X-STERN â a similar solution for the shipâs stern â has been contracted on its first two vessels.
ULSTEIN Reports âGood Resultsâ for 2014
Ulstein Group said it achieved a âgood resultâ for 2014, with an operating turnover of NOK 2.7 billion compared to 2013âs NOK 2.3 billion. Meanwhile, the groupâs operating profit of NOK 184.1 million comes in under the NOK 317.8 million operating profit for 2013, while the 2014 operating result before tax of NOK 167.7 million is again lower than NOK 360.8 million for 2013. âWe are pleased with last yearâs figures. Todayâs market is tough, and we are preparing for even harder times to come. There will be major demand for restructuring and change,â said CEO Gunvor Ulstein.
ULSTEIN Sells 100th X-BOW Design
With the latest contract for two offshore wind service vessels for Bernhard Schulte/WINDEA Offshore, ULSTEIN has achieved 100 sales of the X-BOW hull line design. The milestone was achieved 10 years after the launch of the X-BOW design in 2005. Following the sales to Bourbon Offshore Norway of the second and third ship designs featuring X-BOW, Group CEO Gunvor Ulstein was asked by the media whether the hull design was now a success. "Come back when we've sold 100," Gunvor said in reply. "We can now see that X-BOW has been a huge success in the more recent history of ULSTEIN.
ULSTEIN to Build 2 Offshore Wind Service Vessels
Ulstein Verft has signed a shipbuilding contract with the Germany-based Bernhard Schulte for two service operation vessels (SOVs) of the ULSTEIN SX175 design developed by Ulstein Design & Solutions. The final detailed arrangements and equipment for the vessels have been developed and specified in cooperation with WINDEA Offshore GmbH & Co. KG, which is the Bernhard Schulteâs affiliate for offshore wind projects. âDelivery schedule reliability was our number one priority when choosing the ship yard. We considered several yards worldwide, but Ulstein Verft was our final choice.
Offshore: Ulstein and the First U.S. Built X-Bow
Veteran Norwegian designer and builder Ulstein will, for the first time, build one of its signature X-Bow hull designs in the U.S., Maritime Reporter has learned. Edison Chouest Offshoreâs LaShip shipyard in Louisiana is keen to build, and has found a Norwegian partner to share the risk. Judging by ever-evolving Ulstein business models and Jones Act strictures, Ulsteinâs U.S. foray could lead to series production of the SX 165 offshore construction vessel. The U.S.-built combined light well-intervention and inspection, maintenance and repair vessel will be the second of the type.