Marine Log

August 22, 2006

More OSV orders for Aker Yards

Aker Yards continues to reel in OSV orders.

Today it announced it has received orders fo build two further large construction vessels for DOFCON ASA

This follows the announcement yesterday of a contract with Farstad Supply AS, to deliver one UT 751 CD platform supply vessel.

Both the DOFCON vessels will be built at Aker Yards, Soviknes, Norway.

One of the vessels is of Aker OSCV 06 L design, developed by Aker Yards Project, and will be delivered from the yard in spring 2009.

The vessel is of 153 meters l.o.a. It will be built to DP Class 3 and Ice Class.

The vessel will have a maximum speed of 18,5 knots, considered important for global operations in order to minimize mobilisation time.

The other vessel is scheduled for delivery spring 2008. It will be of 118 meters l.o.a. and will be equipped with a 250 tonnes offshore crane. It too will be built to DP Class 3 and is also designed by Aker Yards Project.

The value of the two DOFCON contracts is approximately NOK 1,175 millions (about $188 million).

DOFCON now has six large construction vessels under construction for delivery in 2008 and 2009.

The contract with Farstad Supply AS is worth NOK 320 million (about $51 million) and is the 21st between Farstad Shipping and Aker Yards.

The hull for the 94 m vessel will be built in Braila, Romania and outfitted at Aker Yards, Brevik.

Delivery of the vessel is scheduled for January 2009.