Bergen Group Fosen awarded further OCV contract by Volstad Maritime

bergen osvNorway's Bergen Group Fosen has been awarded a contract to build a large and advanced OCV (Offshore Construction Vessel) for Volstad Maritime AS. The contract has an estimated value of NOK 750 million and is the second contract awarded the shipyard by Volstad this year.

The signed contract is subject to final board approval and financing, which is expected to be clarified during second quarter 2012. The ship is scheduled for delivery in fourth quarter 2013.

The OCV will have a length of 125 meters and a beam of 25 meters and is a ST-259 CD design from Skipsteknisk in Ålesund.

"Bergen Group has registered a growing interest from both old and new customers who are considering building advanced offshore vessels at our shipyards. This contract with Volstad Maritime AS confirms that we are facing an exciting and innovative market for the construction of this type of ship", says Terje Arnesen of the Bergen Group.

Bergen Group Fosen CEO Arnar Utseth says he is very pleased to be awarded two new construction contracts from the same company within a period of two months. The first contract, signed in the first week in February this year, was also for a construction of a 125 m x 25 and had a ST-259 CD design from Skipsteknisk of Ålesund. That contract has an estimated value of more than NOK 800 million, and the vessel is scheduled for delivery from the shipyard in the third quarter of 2013.

"We are proud of the fact that this shipping company wants to continue the well- established partnership with us. We are looking forward to building yet another modern, advanced and innovative ships to Volstad Maritime", says Arnar Utseth.

Since 2005, Volstad Maritime AS has ordered all its newbuildings, a total of eight vessels, from Bergen Group Fosen. Five of these have already been delivered. One vessel is being outfitted at Fosen at the moment and will be delivered in summer 2012.

Volstad Maritime AS is a privately owned Norwegian offshore shipping company headquartered in Ålesund. The company is well established in the international market, with a modern fleet of advanced offshore vessels.

In the last five years, Bergen Group has delivered a total of 16 advanced offshore vessels to different customers both nationally and internationally. This year, the group's shipbuilding division will deliver another four vessels with a total contract value of NOK 2.7 billion.

April 2, 2012