Craig Group wins contracts for new D class vessels

Contracts, Tenders and Rates - May 2, 2012

A £35 million investment by Craig Group in four new vessels has already secured major, multi-million pound contracts for the Aberdeen global shipping and energy services company.

The new-build D-Class Emergency Response and Rescue Vessels (ERRVs), which will be managed by Craig Group division North Star Shipping, will take to the waves throughout the year on charter to major oil and gas operators.

The new ERRVs are designated NSS-IMT 950s, designed by IMT of Montrose and each equipped with one or two daughter craft and one fast rescue craft.

The ERRVs – named the Grampian Don, the Grampian Dee, the Grampian Discovery and the Grampian Defiance – represent a continued drive by the group to operate the largest British wholly owned fleet engaged in the UK offshore industry, supporting 50 installations in the North West European Area (NWEA).

Grampian Dee has been awarded a contract by Valiant Petroleum for exploration drilling support in the Central North Sea.

Grampian Discovery has secured a contract with Shell to support various North Sea drilling operations and Grampian Don will go on a five year charter to another major operator in the North Sea.

The last vessel in the series, Grampian Defiance, will commence a contract with DONG E&P UK, from September 2012 through to the end of the year.The four new vessels will lead to an additional 120 jobs in the North Sea marine sector.

Douglas Craig, Chairman and Managing Director of Craig Group said: “Securing these major contracts for our vessels which were built speculatively is an endorsement of the confidence in the market and of our continued investment in a safe, modern and efficient fleet.”

The ERRVs are being built at the Balenciaga Shipyard, Northern Spain which has now delivered 20 vessels to Craig Group in the last nine years.

The investment in D Class vessels is part of the £215million million new-build programme by the Craig Group, which began in 2003.