Trevor Turbidy, President and Chief Executive Officer of the Company, commented, "We are pleased to announce the construction of this vessel, which is consistent with our previously announced strategy of upgrading our fleet in a fiscally responsible manner. We are delighted that Solstrand will be constructing this vessel and we have the utmost confidence in their ability to deliver the vessel on time in the fourth quarter of 2007."
This Marin Teknikk Design MT6009 MKII vessel incorporates an additional deck level for increased accommodation of client personnel and diesel-electric propulsion for excellent fuel efficiency and lower operating costs for our customers. These unique characteristics will make the vessel attractive for global deployment including specialized disciplines such as seismic, ROV, and subsea applications. Our success in securing an attractive long-term contract for this vessel will be a critical factor in determining whether we exercise the option for the sister vessel.
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