Boost for Maryland offshore wind

Governor Martin O’Malley and the Maryland Energy Administration yesterday joined BOEMRE to announce that the federal government has accepted the planning recommendations of the Maryland Offshore Wind Task Force and yesterday. Yesterday it issued both a Request for Interest (RFI) and a map of an offshore wind leasing area in federal waters adjacent to Maryland’s Atlantic Coast. Maryland is the second state in the U.S. to reach this point in the process.

“Today’s announcement marks another step forward for Maryland’s new economy,” said Governor Martin O’Malley. “By harnessing the outstanding wind resources off of Maryland’s coast, we can create thousands of green collar jobs, reduce harmful air pollution, and bring much needed, additional clean energy to Maryland.”

Governor O’Malley has made offshore wind a priority in Maryland’s efforts to generate 20 percent of its energy from renewable sources by 2022, citing the potential for job creation and the abundant wind resources available. A one gigawatt offshore wind farm off of the Maryland coast could create as many as 4,000 jobs in manufacturing and construction during the five year development period, with an additional 800 permanent jobs once the turbines are spinning.

Yesterday’s announcement follows nearly two years of planning. The Maryland Department of Natural Resources worked with the Maryland Energy Administration, the Maryland Offshore Wind Task Force, and other outside partners like the University of Maryland’s Center for Integrative and Environmental Research, to develop a comprehensive understanding of the various environmental and stakeholder concerns that would impact any proposed offshore wind development. The result was a draft marine spatial planning area that represented the collective input of federal, state, and local stakeholders and formed the basis for the map released by BOEMRE.

The western edge of the RFI area for proposed wind generation is located approximately 10 nautical miles from the Ocean City coast and the eastern edge is approximately 27 nautical miles from the Ocean City coast.

Maryland offshore wind advocates say the state’s proximity to planned wind farms in the Mid-Atlantic, as well as the deep water port and manufacturing infrastructure in Baltimore, position it to be a leader not only in offshore wind energy generation, but also in ongoing construction and maintenance.

This summer, Governor O’Malley and Delaware Governor Jack Markell wrote to President Obama proposing a federal-state partnership for the development of a power purchase agreement for offshore wind energy. The development of one gigawatt of wind energy in the mid-Atlantic region could lead to the creation of thousands of clean energy jobs.

Also this summer, Governor O’Malley formally entered Maryland into a formal partnership in the newly formed Atlantic Offshore Wind Consortium. The group, comprising states along the Atlantic coastline and the United States Department of the Interior, will work to coordinate regionally prominent issues surrounding the development of off shore wind along the Atlantic outer continental shelf.

“Thanks to Governor O’Malley’s leadership Maryland is exceptionally well positioned to become leader in the emerging offshore wind industry, which has the potential to create or secure thousands of jobs and keep Maryland Smart, Green, and Growing,” said Malcolm Woolf, Director of the Maryland Energy Administration.

Wave power project moves forward

The agreement covers development of OPT’s PowerBuoy technology for application in Japanese sea conditions.

OPT’s PowerBuoy wave generation system uses a “smart,” ocean-going buoy to capture and convert wave energy into low-cost, clean electricity. The rising and falling of the waves offshore causes the buoy to move freely up and down and the resultant mechanical stroking is converted via a power take-off to drive an electrical generator. The generated power is transmitted ashore via an underwater power cable.

A 10 MW OPT power station would occupy only approximately 30 acres (0.125 square kilometers) of ocean space.

Under this new contract, the two companies will work together to develop a new mooring system for OPT’s PowerBuoy, customized for wave power stations off the coast of Japan. The new system will undergo testing at MES’s wave tank facilities to verify the results of extensive computer modeling. OPT expects to receive 18 million yen (approximately $220,000) for its development efforts. Work under this agreement is expected to be performed over the next six months.

In October 2009, OPT and a consortium of MES, Idemitsu Kosan Co., and Japan Wind Development Co. signed a Memorandum of Understanding for the development of wave energy in Japan. OPT and members of the consortium have since worked with the Japanese government to increase recognition of wave power in Japanese energy policy.

The Japanese government has pledged to target a 25 percent cut in greenhouse gas emissions from 1990 levels by 2020 as part of its intentions to boost renewable energy sources to about 10 percent of primary energy supply by 2020. The Japanese government has specifically targeted wave energy as a component of this strategy.

Now OPT and MES intend to complete work on the mooring system and find a project site for an in-ocean trial of the PowerBuoy system.

OPT’s CEO, Charles F. Dunleavy, said: “We are very pleased to continue to build on our relationship with MES. This new agreement is consistent with OPT’s global strategy to form alliances with strategic partners in key markets. We believe working with MES will facilitate the realization of the great potential of wave power as a concentrated and predictable source of renewable energy for Japan.”

Ryoichi Jinkawa, Managing Director of the Business Development and Innovation Headquarters of MES, said: “We continue to be impressed with OPT’s technical strength and in-ocean experience. MES is very excited by the great business opportunity resulting from our relationship with OPT. We look forward to continuing to work with OPT in making our common vision of increasing the use of renewable energy a reality.

 

November 8, 2010

$2.1 million penalties in Gould pollution case

Galliano, La., headquartered Offshore Vessels LLC (OSV), formerly Edison Chouest Offshore Vessels LLC, was on Thursday sentenced in U.S. District Court in New Orleans to pay a criminal fine of $1,750,000 and remit a payment of $350,000 as community service to the National Marine Sanctuary Foundation. The community service funds are to be used to study polar water pollution and protection of vulnerable marine ecosystems in the Antarctic region. OSV also will serve a period of probation for three years, during which it will be required to operate under an Environmental Compliance Plan.

OSV pleaded guilty on July 22, 2010, to knowingly discharging waste oil from one of its vessels, in violation of the Act to Prevent Pollution from Ships (APPS).

“The criminal fine in this case will serve as a strong deterrent to all vessel companies, American and foreign, against deliberately violating the laws enacted to protect oceans,” said Ignacia S. Moreno, Assistant Attorney General of the Environment and Natural Resources Division of the Department of Justice. “The required payment will provide a means of studying polar water oil pollution and its impact on Antarctica’s fragile marine ecosystem.”

OSV owned and operated the R/V Laurence M. Gould (R/V Gould). The R/V Gould was a 2,966 gross ton American-flagged vessel that served as an ice-breaking research vessel for the National Science Foundation on research voyages to and from Antarctica. In its guilty plea earlier this year, OSV admitted that crew members knowingly discharged oily wastewater from the bilge tank of the R/V Gould overboard to the high seas, in violation of APPS. In doing so, they bypassed the ship’s oily-water separator, a pollution-control device. Regulations promulgated under APPS require that oily wastewater be discharged only after it has been sent through an oily water separator.

The case was investigated by the U.S. Coast Guard Criminal Investigative Service. The case is being prosecuted by Senior Trial Attorney Daniel Dooher of the Environment and Natural Resources Division of the Department of Justice and Assistant U.S. Attorney Dorothy Manning Taylor.

November 6, 2010

Dubai Drydocks launches jack-up

It is the second of two Service Jack units that the yard is building for Lysaker, Norway, headquartered Master Marine AS.

On completion next year, the vessel will commence a contract to install 88 wind turbines at the U.K.’s Shearingham Shoal field for Scira, a joint Statoil/Statkraft venture. The first vessel, Haven, was delivered from the Graha shipyard in June. It is now in southern Norway completing preparations for a three-year assignment as an accommodation unit at the Ekofisk field in the Norwegian sector of the North Sea.

Designed by Global Maritime, and classified by ABS, Nora is DP2 equipped and can jack-up in 80 m water depth. It has an open deck area of 2,500 sq. m and has accommodations for up to 260 people. It will be equipped with two pedestal cranes, each of 750 t capacity.

The vessel has a hull length of 110 m and breadth of 50 m It has four 130 m long legs and the spud can area of each leg is 180 sq.m.

November 6, 2010

Gene Taylor loses reelection bid

After 11 terms in the House, Rep. Gene Taylor has lost his bid to be re-elected to the Mississippi District 4 seat. His was one of a number of defeats that will reshape the membership of key Committees.

Republican Steven Palazzo defeated Taylor, a conservative Democrat, by 52 percent to 47 percent in unofficial results Tuesday night, the Sun Herald reported this morning.

Taylor lost his seat as part of a national trend that saw Democrats lose control of the House. His eleven terms brought with a seniority that placed him well to defend shipbuilding interests as Chairman of the key Seapower and Expeditionary Forces Subcommittee of the House Armed Services Committee. He is also Co-Chairman of the Congressional Shipbuilding Caucus.

Taylor is also a member of the Transportation and Infrastucture — another important panel that will look a lot different in the new Congress.

Not only will it be controlled by Republicans, but a lot of familiar Democratic faces will be missing – most noticeably Chairman James Oberstar (Minn.) who lost his re-election bid. Other Democrats on the committee who fell to Republican challengers include, besides Gene Taylor,Michael A. Arcuri (N.Y.), John A. Boccieri (Ohio), Christopher P. Carney (Pa.), John J. Hall (N.Y.), Phil Hare (Ill.), Steve Kagen (Wisc.), Betsy Markey (Colo.), Michael E. McMahon (N.Y.), Harry E. Mitchell (Ariz.), Solomon P. Ortiz (Texas), Thomas S.P. Perriello (Va.), Mark H. Schauer (Mich.), Harry Teague (N.M.) and Dina Titus (Nev.). Democrat Brian Baird of Washington did not run. His House seat was won by Republican Jaime Herrera.

The key Transportation subcommittee of interest to MarineLog readers is the Coast Guard and Maritime Transportation subcommittee. Rep. Oberstar was a member of the panel by virtue of his chairmanship of the parent committee. Other panel members who lost their reelection fight were its Vice Chairman, Michael McMahon and Gene Taylor and Steve Kagen,

Transportation Committee rank member John Mica (Fla.) won reelection as did Coast Guard subcommittee ranking member Frank LoBiondo (N.J.). While Rep. Mica is widely tipped to take over the Chairmanship of the Committee, Rep. LoBiondo will have enough seniority in the next Congress that he may well set his sights higher than the Coast Guard panel.

Elijah E. Cummings, Md, will presumably now move from the Chair of the Coast Guard panel to the ranking member slot. He leaves a legacy of giving the Coast Guard rather more oversight than some predessors did. It will be interesting to see if this “tough love” approach continues.

Nov. 5, 2010

Trico Marine files for Chapter 11 protection

According to a document filed with the court, the companies have total debts estimated at $353.6 million and assets of $30.56 million. The largest single unsecured creditor is Joseph S. Compofelice with a claim in relation to an employment agreement of $2.4 million, which is categorized as “contingent, unliquidated, disputed and subject to set off.”

Mr. Compofelice was replaced as the company’s Chairman, President and Chief Executive Officer on May 29.

You can access court documents and other general information about the Chapter 11 cases HERE

Aside from the Cayman Islands holding company, Trico’s foreign subsidiaries were not included in the filing and will not be subject to the requirements of the U.S. Bankruptcy Code. Trico says that its U.S. and worldwide operations are expected to continue without interruption during the restructuring process.

Chairman of the Board of Directors, President and Chief Executive Officer, Richard A. Bachmann commented, “Over the last several months, we have worked diligently to improve our liquidity, including through the sale of $3 million of non-core assets, the sale of a North Sea class vessel for $16 million and additional cost-cutting initiatives. While we are beginning to see indications of improved operational performance, the combination of a sluggish economy, a highly leveraged balance sheet and imminent interest payments due, has led us to determine that a court-supervised restructuring is the best course of action for the company and its stakeholders. While we are continuing discussions with our lenders, the Board decided to begin this process now in order to get the company’s restructuring underway without delay. We intend to move through this process as quickly as possible. Throughout the restructuring process, we will remain focused on operating our business worldwide while continuing our efforts to manage costs, strengthen our balance sheet and gain financial flexibility in order to position Trico as a strong and profitable competitor in our industry.”

In conjunction with the filing, Trico has received a commitment for up to $35 million in debtor-in-possession (DIP) financing from Tennenbaum DIP Opportunity Fund and other funds managed by Tennenbaum Capital Partners, LLC, of which $10 million will represent incremental liquidity. The company says it “expects that, upon court approval and satisfaction of other customary conditions, the DIP financing, combined with cash from the company’s ongoing operations, will provide funding to support the business. In addition, the company anticipates that it will meet its obligations going forward to its employees, customers and suppliers.”

Separately, the company announced that Trico Shipping AS and its affiliates have reached an agreement in principle for $22 million in senior secured multi-draw term loan financing from certain holders of its 11 7/8% Senior Secured Notes (the “Trico Shipping Notes”) representing approximately 80% of the Trico Shipping Notes and from Tennenbaum. The closing of this financing arrangement is subject to obtaining required consents, as well as certain other closing conditions of Trico Shipping AS and its affiliates. This financing would be used to fund operating expenses and other working capital needs.

“We look forward to working together with all of our stakeholders to complete a successful financial restructuring,” said Mr. Bachmann. “Our global operations are expected to continue without interruption throughout the restructuring process, and we remain committed to providing our customers with high quality service. We appreciate the ongoing dedication of all our employees, whose hard work is critical to our success and the future of the company.”

Trico will file a series of motions with the court to ensure the continuation of normal operations, including requesting court approval to continue paying employee wages and salaries and providing employee benefits without interruption and to continue use of its bank accounts and insurance policies. The company expects the court to approve these requests. The company says that during the Chapter 11 process, suppliers will be paid in full for all goods and services provided after the filing date as required by the U.S. Bankruptcy Code, and Trico has taken steps to ensure continued supply of goods and services to its customers.

Trico Marine files for Chapter 11 protection

According to a document filed with the court, the companies have total debts estimated at $353.6 million and assets of $30.56 million. The largest single unsecured creditor is Joseph S. Compofelice with a claim in relation to an employment agreement of $2.4 million, which is categorized as “contingent, unliquidated, disputed and subject to set off.”

Mr. Compofelice was replaced as the company’s Chairman, President and Chief Executive Officer on May 29.

You can access court documents and other general information about the Chapter 11 cases HERE

Aside from the Cayman Islands holding company, Trico’s foreign subsidiaries were not included in the filing and will not be subject to the requirements of the U.S. Bankruptcy Code. Trico says that its U.S. and worldwide operations are expected to continue without interruption during the restructuring process.

Chairman of the Board of Directors, President and Chief Executive Officer, Richard A. Bachmann commented, “Over the last several months, we have worked diligently to improve our liquidity, including through the sale of $3 million of non-core assets, the sale of a North Sea class vessel for $16 million and additional cost-cutting initiatives. While we are beginning to see indications of improved operational performance, the combination of a sluggish economy, a highly leveraged balance sheet and imminent interest payments due, has led us to determine that a court-supervised restructuring is the best course of action for the company and its stakeholders. While we are continuing discussions with our lenders, the Board decided to begin this process now in order to get the company’s restructuring underway without delay. We intend to move through this process as quickly as possible. Throughout the restructuring process, we will remain focused on operating our business worldwide while continuing our efforts to manage costs, strengthen our balance sheet and gain financial flexibility in order to position Trico as a strong and profitable competitor in our industry.”

In conjunction with the filing, Trico has received a commitment for up to $35 million in debtor-in-possession (DIP) financing from Tennenbaum DIP Opportunity Fund and other funds managed by Tennenbaum Capital Partners, LLC, of which $10 million will represent incremental liquidity. The company says it “expects that, upon court approval and satisfaction of other customary conditions, the DIP financing, combined with cash from the company’s ongoing operations, will provide funding to support the business. In addition, the company anticipates that it will meet its obligations going forward to its employees, customers and suppliers.”

Separately, the company announced that Trico Shipping AS and its affiliates have reached an agreement in principle for $22 million in senior secured multi-draw term loan financing from certain holders of its 11 7/8% Senior Secured Notes (the “Trico Shipping Notes”) representing approximately 80% of the Trico Shipping Notes and from Tennenbaum. The closing of this financing arrangement is subject to obtaining required consents, as well as certain other closing conditions of Trico Shipping AS and its affiliates. This financing would be used to fund operating expenses and other working capital needs.

“We look forward to working together with all of our stakeholders to complete a successful financial restructuring,” said Mr. Bachmann. “Our global operations are expected to continue without interruption throughout the restructuring process, and we remain committed to providing our customers with high quality service. We appreciate the ongoing dedication of all our employees, whose hard work is critical to our success and the future of the company.”

Trico will file a series of motions with the court to ensure the continuation of normal operations, including requesting court approval to continue paying employee wages and salaries and providing employee benefits without interruption and to continue use of its bank accounts and insurance policies. The company expects the court to approve these requests. The company says that during the Chapter 11 process, suppliers will be paid in full for all goods and services provided after the filing date as required by the U.S. Bankruptcy Code, and Trico has taken steps to ensure continued supply of goods and services to its customers.

Trico Marine files for Chapter 11 protection

According to a document filed with the court, the companies have total debts estimated at $353.6 million and assets of $30.56 million. The largest single unsecured creditor is Joseph S. Compofelice with a claim in relation to an employment agreement of $2.4 million, which is categorized as “contingent, unliquidated, disputed and subject to set off.”

Mr. Compofelice was replaced as the company’s Chairman, President and Chief Executive Officer on May 29.

You can access court documents and other general information about the Chapter 11 cases HERE

Aside from the Cayman Islands holding company, Trico’s foreign subsidiaries were not included in the filing and will not be subject to the requirements of the U.S. Bankruptcy Code. Trico says that its U.S. and worldwide operations are expected to continue without interruption during the restructuring process.

Chairman of the Board of Directors, President and Chief Executive Officer, Richard A. Bachmann commented, “Over the last several months, we have worked diligently to improve our liquidity, including through the sale of $3 million of non-core assets, the sale of a North Sea class vessel for $16 million and additional cost-cutting initiatives. While we are beginning to see indications of improved operational performance, the combination of a sluggish economy, a highly leveraged balance sheet and imminent interest payments due, has led us to determine that a court-supervised restructuring is the best course of action for the company and its stakeholders. While we are continuing discussions with our lenders, the Board decided to begin this process now in order to get the company’s restructuring underway without delay. We intend to move through this process as quickly as possible. Throughout the restructuring process, we will remain focused on operating our business worldwide while continuing our efforts to manage costs, strengthen our balance sheet and gain financial flexibility in order to position Trico as a strong and profitable competitor in our industry.”

In conjunction with the filing, Trico has received a commitment for up to $35 million in debtor-in-possession (DIP) financing from Tennenbaum DIP Opportunity Fund and other funds managed by Tennenbaum Capital Partners, LLC, of which $10 million will represent incremental liquidity. The company says it “expects that, upon court approval and satisfaction of other customary conditions, the DIP financing, combined with cash from the company’s ongoing operations, will provide funding to support the business. In addition, the company anticipates that it will meet its obligations going forward to its employees, customers and suppliers.”

Separately, the company announced that Trico Shipping AS and its affiliates have reached an agreement in principle for $22 million in senior secured multi-draw term loan financing from certain holders of its 11 7/8% Senior Secured Notes (the “Trico Shipping Notes”) representing approximately 80% of the Trico Shipping Notes and from Tennenbaum. The closing of this financing arrangement is subject to obtaining required consents, as well as certain other closing conditions of Trico Shipping AS and its affiliates. This financing would be used to fund operating expenses and other working capital needs.

“We look forward to working together with all of our stakeholders to complete a successful financial restructuring,” said Mr. Bachmann. “Our global operations are expected to continue without interruption throughout the restructuring process, and we remain committed to providing our customers with high quality service. We appreciate the ongoing dedication of all our employees, whose hard work is critical to our success and the future of the company.”

Trico will file a series of motions with the court to ensure the continuation of normal operations, including requesting court approval to continue paying employee wages and salaries and providing employee benefits without interruption and to continue use of its bank accounts and insurance policies. The company expects the court to approve these requests. The company says that during the Chapter 11 process, suppliers will be paid in full for all goods and services provided after the filing date as required by the U.S. Bankruptcy Code, and Trico has taken steps to ensure continued supply of goods and services to its customers.

Trico Marine files for Chapter 11 protection

According to a document filed with the court, the companies have total debts estimated at $353.6 million and assets of $30.56 million. The largest single unsecured creditor is Joseph S. Compofelice with a claim in relation to an employment agreement of $2.4 million, which is categorized as “contingent, unliquidated, disputed and subject to set off.”

Mr. Compofelice was replaced as the company’s Chairman, President and Chief Executive Officer on May 29.

You can access court documents and other general information about the Chapter 11 cases HERE

Aside from the Cayman Islands holding company, Trico’s foreign subsidiaries were not included in the filing and will not be subject to the requirements of the U.S. Bankruptcy Code. Trico says that its U.S. and worldwide operations are expected to continue without interruption during the restructuring process.

Chairman of the Board of Directors, President and Chief Executive Officer, Richard A. Bachmann commented, “Over the last several months, we have worked diligently to improve our liquidity, including through the sale of $3 million of non-core assets, the sale of a North Sea class vessel for $16 million and additional cost-cutting initiatives. While we are beginning to see indications of improved operational performance, the combination of a sluggish economy, a highly leveraged balance sheet and imminent interest payments due, has led us to determine that a court-supervised restructuring is the best course of action for the company and its stakeholders. While we are continuing discussions with our lenders, the Board decided to begin this process now in order to get the company’s restructuring underway without delay. We intend to move through this process as quickly as possible. Throughout the restructuring process, we will remain focused on operating our business worldwide while continuing our efforts to manage costs, strengthen our balance sheet and gain financial flexibility in order to position Trico as a strong and profitable competitor in our industry.”

In conjunction with the filing, Trico has received a commitment for up to $35 million in debtor-in-possession (DIP) financing from Tennenbaum DIP Opportunity Fund and other funds managed by Tennenbaum Capital Partners, LLC, of which $10 million will represent incremental liquidity. The company says it “expects that, upon court approval and satisfaction of other customary conditions, the DIP financing, combined with cash from the company’s ongoing operations, will provide funding to support the business. In addition, the company anticipates that it will meet its obligations going forward to its employees, customers and suppliers.”

Separately, the company announced that Trico Shipping AS and its affiliates have reached an agreement in principle for $22 million in senior secured multi-draw term loan financing from certain holders of its 11 7/8% Senior Secured Notes (the “Trico Shipping Notes”) representing approximately 80% of the Trico Shipping Notes and from Tennenbaum. The closing of this financing arrangement is subject to obtaining required consents, as well as certain other closing conditions of Trico Shipping AS and its affiliates. This financing would be used to fund operating expenses and other working capital needs.

“We look forward to working together with all of our stakeholders to complete a successful financial restructuring,” said Mr. Bachmann. “Our global operations are expected to continue without interruption throughout the restructuring process, and we remain committed to providing our customers with high quality service. We appreciate the ongoing dedication of all our employees, whose hard work is critical to our success and the future of the company.”

Trico will file a series of motions with the court to ensure the continuation of normal operations, including requesting court approval to continue paying employee wages and salaries and providing employee benefits without interruption and to continue use of its bank accounts and insurance policies. The company expects the court to approve these requests. The company says that during the Chapter 11 process, suppliers will be paid in full for all goods and services provided after the filing date as required by the U.S. Bankruptcy Code, and Trico has taken steps to ensure continued supply of goods and services to its customers.

Island Offshore orders LNG-fueled PSV’s

The vessels are scheduled for delivery in the second and third quarters of 2012. The hulls will be built at the Braila shipyard in Romania, and outfitted in Brevik, Norway. The total value of the contracts amounts to approximately NOK 900 million (about $143 million).

The vessels are of Rolls-Royce UT776 CDG design. Island Offshore has four UT776’s in service and two more under construction. The vessels just ordered at STX Offshore Norway will be the first for Island Offshore to be LNG-fueled and, in fact, the first LNG fueled UT vessels designed and powered by Rolls-Royce.

“We are extremely happy with the performance of these UT vessels, as are our clients,” said Island Offshore Managing Director Håvard Ulstein. “A very important area for Island Offshore is reduction in fuel consumption. With the UT 776, the favourable hull lines contribute to a very low consumption rate over a wide range of operating drafts. We believe that the most significant contribution to reducing emissions is to reduce fuel consumption for a given amount of work done. Going for LNG fuel is a logical step in reducing emissions even further.”

Rolls-Royce has worked for several years developing designs and systems for offshore vessels using LNG as fuel.

Rolls-Royce has developed a gas-electric diesel-electric propulsion system for the new vessel. The effective capacity of the gas tanks is about 200 cu.m, corresponding to 10-20 day operation on gas alone depending on the exact operational profile. The gas engines are two of the new C26:33 series from Rolls-Royce.

“Now that more gas infrastructure is in place, it is realistic for customers to select this fuel and these designs and systems” commented Atle Gaasø,Rolls-Royce’s General Manager Sales for offshore service vessels. “We are very happy to be working with Island Offshore, as they are a very forward-thinking company with a strong focus on efficiency and the environment, as they have already shown with their pioneering Rolls-Royce designed well intervention vessels.”

“The UT 776 type has seen continued development from order to order, with our newest vessels building upon the experience and lessons learned from our earlier ones. By choosing this design we have managed to maintain high levels of standardization, and continue the good cooperation on design and equipment we have with Rolls-Royce. The current design sets a standard that we think will do very well for the future,” added Håvard Ulstein.

The new UT776 CDG is 96 m long with a beam of 20 m, and will transport all normal offshore supplies. The ship will also be equipped for oil recovery. Deadweight is approximately 4,750 t

Roy Reite, President of STX Norway Offshore, says: “We appreciate the good relations we have with Island Offshore, and that this cooperation once again has led to the building of new vessels. We have in total been awarded more than thirty new building contracts with Island Offshore, and we look forward to continuing the good cooperation.”

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