Vallianz Orders 2 Ulstein P128 PSVs as Part of Fleet Modernization

Vallianz Holdings Limited (Vallianz or the Company), an integrated offshore marine solutions provider in the offshore oil and gas industry, announced Friday that it will be boosting its fleet capabilities with the addition of platform supply vessels of Ulstein P128 and PX128 designs (New PSVs). The New PSVs are the first of its kind in the world and charts the start of the modernization and diversification for Vallianz’s current fleet of 28 vessels.

Two Ulstein P128 vessels have been acquired and will be delivered within the next 6 to 12 months as part of the planned expansion program of 24 vessels as announced by Vallianz in April 2014. Separately, an addition of 10 PX128 vessels will be added to the Vallianz fleet subsequently. These additional 10 PX128 vessels will be jointly developed with Ulstein Asia Pte Ltd with strong involvement from Vallianz.

The Ulstein P128 vessels measure 234 feet (71.5 meters) by 49 feet (15 meters), with a deadweight of approximately 3,000 tons and are equipped for 24 persons. It features a 6,5656 square foot (610 square meter) work deck capable of accommodating 4 lengths of 12 meter-long casing pipes and is enclosed by plate-covered crash barriers providing increased safety for crew and cargo. Its discharge system has been designed for safe and efficient loading and discharging of several dry and wet bulk cargoes simultaneously.

Commented Darren Yeo, CEO of Vallianz: “I look forward to the addition of the Ulstein P128 PSVs to our existing fleet of vessels. The Ulstein P128 vessels combine low fuel consumption with high carrying capacity. The vessels are diesel-powered, equipped with dynamic positioning and include automation systems for machinery and cargo handling that will contribute to safe and efficient vessel operations.”

“Ulstein is delighted to partner together with Vallianz and we are confident that together with Vallianz, we would be able to provide vessels which will provide superior environmental and economic performance," said Gunnar Haug, managing director of Ulstein Asia Pte Ltd. “Embarking on a new small-to-medium PSV market, Ulstein's design criteria has been to develop a PSV that could support barges and rigs in a more economical way than the traditional offshore support vessel, both in terms of building cost and operational costs. The result is a Diesel-Electric PSV that will outperform many traditional PSV's in terms of low fuel oil consumption and high cargo capacity.”

Yeo concluded, “Vallianz is currently bidding for up to $1.2 billion in projects across Asia, Middle East and Latin America. With the addition of these Ulstein PSVs, Vallianz will be in a position to potentially capitalize on new opportunities in new regions such as Europe, Gulf of Mexico and Africa. We are setting our sights on new markets
and in this regard, are continuing to deepen management bandwidth and vessel capabilities.”

The new PSVs and their features align with Vallianz’s core business philosophy of “Cause No Harm” - a philosophy that embraces the idea of causing no harm to Vallianz and its valued employees and customers, the environment and future generations.

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