Two Ulstein Vessels for Nordic American Offshore

The offshore shipping company Nordic American Offshore (NAO) has contracted two platform supply vessels (PSVs) of Ulstein’s PX121 design.

These vessels will be number seven and eight which NAO buys from Ulstein. In December 2013, NAO invested in six vessels of the PX121 design, which had been constructed at Ulstein Verft. The two new vessels are planned for delivery from Ulstein Verft in January 2015. The total value of these eight vessels exceeds NOK 2bn.

Gunvor Ulstein, CEO, Ulstein Group, said: “We are very pleased that Nordic American Offshore has chosen Ulstein when expanding their fleet of PSVs.”

In total, Ulstein has currently sold 18 vessels of this design. The six previously built at Ulstein Verft have all been working on firm contracts in the North Sea. Ten are constructed or under construction at yards in China or southeast Asia.

Ulstein’s decision to focus on these ship types resulted from careful market analysis. In the North Sea, these platform supply vessels are considered medium-sized, and they are designed to have an optimum combination of fuel efficiency and deadweight. They have a capacity and performance that approaches those of larger PSVs. They can take on most of the tasks usually handled by slightly larger PSVs. Both investment cost and operating cost are reported to be lower.

The new NAO vessels will be hull number 303 and 304 at Ulstein Verft, which currently has five vessels on order.

Further recent news from Ulstein concerns the Sea Spider, an Ulstein-designed platform supply vessel for the Seatankers Group.