The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping.

MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004

Make sure you know how the new tax rules work!

Ulstein A102

March 17, 2005

Groupe Bourbon orders Ulstein anchor handler

Norway's Ulstein Verft is to build an Ulstein A102-type anchor handling vessel from Ulstein Design for Bourbon Offshore Norway. The contract includes an option for a second vessel.

The order follows last month's delivery by Ulstein of the platform supply vessel Bourbon Topaz. Ulstein is currently building its sister ship, the Bourbon Peridot.

Delivery of the A102 is scheduled for July 2006. The optional sister ship is slated for delivery in January 2007.

"We are pleased with the Ulstein Design solutions and with the project momentum at Ulstein Verft, and chose the Ulstein Group for this building project as well," says Bourbon Offshore Norway president Jostein Saetrenes. "We see a need in the market, and have great faith in an anchor handling vessel of this size.

Tore Ulstein, president of both Ulstein Design and Ulstein Verft, notes that the design company is now "just about five years old" and that eleven Ulstein-designed vessels have now been built or are under construction.

"It's exciting for us that we have managed to establish our market position with our designs in such a short time," says Tore Ulstein. "We are very pleased with the response and are happy that Bourbon Offshore Norway has once again chosen the Ulstein Group as its design supplier and building yard."

The Groupe Bourbon order is the first for an Ulstein A102. The design is customized to Groupe Bourbon's needs. The vessel will have a bollard pull of 180 tonnes and is 75.2 m long and 17 m wide. It has a large 400-tonne winch.

Ulstein A102


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