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    Island Offshore to acquire Ulstein P105 PSV

    Vessel & ROV News // July 9, 2004
    Ulstein Verft AS has confirmed that it has signed a contract with Island Offshore IX KS regarding the construction of an Ulstein P105 platform supply vessel, with an option for a further vessel of the same type.

    The vessel in order is worth around NKr 200 million. Work will start immediately and will guarantee the shipyard work until April 2005.

    Island Offshore IX KS is owned by the vessel investment company Island OffshoreShipholding LP, together with the investment companies Naustneset, Dalseth,Bakkely and the Ulstein Loen family. All are also shareholders in UlsteinMekaniske Verksted Holding ASA.

    Earlier this year, Island Offshore Shipholding established an operating company, Island Offshore Management AS, which until now has operated one vessel. The company will also take over responsibility for operating the new vessel from Ulstein Verft. The Island Offshore group is an exciting and important new partner for the shipyard.

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