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    Eastern Echo signs shipbuilding contracts

    Vessel & ROV News // December 10, 2007

    Eastern Echo Holding Plc has confirmed that it hasásignedáshipbuilding contracts with Dubai Drydocks andádesign and equipment contracts with Ulstein Designáfor two seismic vessels, each capable of towing up to 12 streamers.

    The shipbuilding contracts conclude and replace the original Letter of Intent (LOI) announced on ináSeptember 2007.

    "We are pleased to announce the signing of these contracts today with Dubai Drydocks and Ulstein Design. The two new seismic vessels covered under this agreement will ensure the placement of the Eastern Echo fleet at the top end of the premium 3-D seismic segment," saidáCEO Rolf R°nningen.

    The two seismic vessels are both of the same innovative Ulstein SX 124 (X-Bow) design as the previously announced shipbuilding contracts in Spain for four newbuilds.

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