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KLEVEN PSV

May 25, 2010

Rem Offshore on PSV spree

Norway's Rem Offshore ASA has ordered four large PSV vessels.

Two of the contracts are with Kleven Verft AS and are for VS 485 design vessels (see picture at top of page) that will be delivered in June and September 2011. The value of the contracts with Kleven is about NOK 700 million.

The other two contracts are with STX Norway Offshore AS and are of the STX 06 CD design (see picture at bottom of page). These vessels will be delivered in October 2011 and January 2012. The value of the contracts with STX is approximately NOK 750 million.

Kleven Maritime delivered 10 vessels to Rem Offshore between 2004 and 2009 and Åge, the main shareholder in Rem Offshore, said "it's very nice to make business with Kleven once more. Our relations with Kleven are long term and strong, we believe in the market ahead, and we are positioning our company for further growth".

Kleven describes the two new vessels it will build as representing "a new generation of environmentally friendly and robust platform supply vessels, where much attention is put on low emissions, fuel economy and optimized cargo capacity both above and below deck."

With a length OA of 85 m and beam of 20 m, they have a deadweight of around 5,000 tons and offer a clear deck space of more than 1,000 sq.m.

Ice class ICE C makes the vessels suitable for operations in the north, and the latest developed oil recovery equipment (OIL RECOVERY NOFO 2009) adds further value to the vessels in the market.

The class notation CLEAN DESIGN guarantees low emissions through catalyzers, in addition ballast water cleaning systems meet the latest requirements.

Wartsila will be delivering design, generator sets, automation and electrical systems.

The contracts will also ensure deliveries for local suppliers such as Hareid Elektriske Teknikk and Brunvoll.

The two STX 06 CD vessels being built by STX Europe will have an overall length of 94 m and molded breadth of 20 m. Offering about 1,100 sq.m of crago deck area they will have a deadweight of around 5,300 tons.

Roy Reite, President of STX Europe's Offshore & Specialized Vessels business area, says: "High focus on innovation combined with our adaptability to meet the offshore market has resulted in seven new building contracts to our Norwegian yards so far this year. We look forward to continuing the good cooperation with Rem Offshore, we have delivered several vessels to this Norwegian ship owner in the past."

The new vessels are arranged for regular platform supply duties. Some of the vessels features will include Oil Recovery in accordance with DNV and latest NOFO 2009 guidelines, Ice-C class and Dynpos AUTR, dynamic positioning system

The vessels are in particular designed for environmental friendly operations with focus on low fuel consumption, and in accordance with Clean Design requirements. The vessels will be prepared for catalytic reactor exhaust systems for reduced emissions.

The hulls will be built at STX Europe, Tulcea in Romania, and outfitted at STX Europe, Langsten in Norway.

STX PSV

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