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    Mainport Holdings and Sartor confirm joining forces

    News // August 23, 2005

    Mainport Holdings Ltd of Eire (Ireland) and Sartor AS in Norway have confirmed that they have joined forces to combine their North Sea Operations in the multi-role/standby sector.

    The new company will have a fleet of some seven vessels.

    Ocean Mainport Offshore Limited will continue to seek opportunities for expansion in the ERRV, multi-role and PSV markets and expects to acquire further vessels in the near future.

    The new fleet consists of: Viking Fighter, Ocean Fighter, Viking Prince, Ocean Sky, Siggbas, Sartor and Ocean Mainport.

    Finance for the purchase was provided by Bank of Scotland (Ireland) through their Cork office.

    “We are delighted to be setting up this new company with Sartor AS. With the offshore market booming, we both felt it was time to look to the future, it was time to
    branch out with our European counterparts and expand,” said David Ronayne, Managing Director of Irish Mainport Ltd. "The partnership will benefit both parties, enabling us to give a better service to existing and new customers”.

    “Ocean Mainport Offshore Limited will continue to seek opportunities for expansion in the ERRV, Multi role and PSV market and we expect to acquire further vessels in the near future,” Mr Ronayne continued.

    The Ocean Mainport vessels will continue to operate in both the Norwegian and British sector of the North Sea and elsewhere, and are mainly multi-role offshore vessels with standby and emergency response capabilities, as well as normal platform/drilling rig supply duties.

    Sartor AS will manage the day-to-day operations of the vessels under the Norwegian flag. The owning company will be administered by Irish Mainport Holdings Ltd.

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