Lauritzen JV orders North Sea accommodation semi

Axis-TBN-frontSEPTEMBER 10, 2012 — China's COSCO Qidong Offshore, a subsidiary of  COSCO Shipyard Group has secured a contract worth over $200 million from Axis Offshore, a joint venture between Danish shipowner J. Lauritzen and Norwegian private equity firm HitecVision. It covers the construction a Harsh Environment Semi Submersible Accommodation Rig, built to Global Maritime's GM500A design, and includes options for two more units.

Designed for North Sea operation, the rig will have a capacity of 500 persons and feature a DP3 Dynamic Positioning system. Delivery from the shipbuilder is scheduled for the first quarter of 2015.

Axis Offshore CEO Jesper Kragh Andresen comments: "Axis Offshore is committed to grow its activities in the high-end offshore accommodation segment and we are pleased to take this first step for the North Sea. We have designed the new accommodation vessel to offer a safe, reliable and comfortable offshore accommodation solution. While we see opportunities in the North Sea we remain keen also to expand our presence in Brazil and also see potential in Australia".

Axis Offshore CEO Helge Haakonsen says: "We have carefully studied different options for designs and yards and we believe that we have concluded a superior specification, which will be well received by customers in Norway, U.K. and worldwide."

He added that the unit will carry DNV's ER Notation and that safety standards will be "best in class." The unit will be equipped with a new type of free fall lifeboat meeting the latest Norwegian regulations.

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