Marine Log

UT 731 CD

October 27, 2006

Farstad places $320 million order at Aker Yards

Aker Yards has entered into a contract with Farstad Shipping ASA for building of four AHTS Vessels with a value of approx NOK 2.1 billion (about $320.1 million)

The vessels to be built are 87.4 m x 21 m Multifunctional Deep Water Anchor Handling/Tug/Supply/Service Vessels, based on the Rolls-Royce UT 731 CD. design.

The order is worth about $113 million to Rolls-Royce which will supply not only the design but also engines, propellers, deck machinery, dynamic positioning systems and automation equipment.

Rolls-Royce says this is its largest offshore order ever.

The vessels' hulls will be built in Romania. The will be fitted out at Aker Yards, Langsten, Norway, with deliveries from Langsten slated for the second and third quarter of 2009, and the first and second quarter of 2010.

The vessels will be equipped to perform ROV services through a dedicated ROV hangar. The vessels will have a Bollard Pull of 230 tons, and will be outfitted with all equipment necessary to support the most challenging operations and environments world wide.

Including this contract Aker Yards have delivered and under construction a total of 25 vessels for Farstad Shipping ASA.

Mr Roy Reite, responsible for the Offshore & Specialized Vessels business area in Aker Yards, states in a comment: "This contract confirms our long and good relationship both with Farstad Shipping ASA, and Rolls-Royce".

Rolls-Royce has won its largest ever marine order in the Offshore industry in a deal worth around £60 million.

Farstad Shipping has ordered four new anchor handling ships at a total cost of more than £200 million, to be built by Aker Yards in Norway. The ships have been designed by Rolls-Royce marine architects and will be fitted with Rolls-Royce

The four UT-Design vessels are the latest to be ordered from Rolls-Royce and mark another chapter in one of the most successful ship design stories in commercial shipbuilding. Since the mid-1970s, over 530 of the vessels have been built or are currently on order.

The new vessels being constructed are all UT 731 CD variants. These ships can operate as construction vessels as well as acting as supply vessels – a unique capability. Designed to operate under extreme conditions and work at depths of up to 3,000 metres, the ships are also capable of functioning in arctic environments.

Anders Almestad, President – Offshore said: “Our Offshore business has been built on giving customers what they want. We are delighted to be trusted yet again to supply this kind of revolutionary, new capability to them.”