Aker Yards to Build OSVs for Farstad Supply

Aker Brattvaag AS has signed a contract with Farstad Supply AS, for the building of two Offshore Supply Vessels. The total contract value is approximately NOK 540 million. The vessels are scheduled for delivery from Søviknes Verft in May and September 2006. The contract is dependent on approval of the charter party between Norsk Hydro and Farstad Shipping ASA.

The vessels will have the new designation UT 751 E, designed by Rolls-Royce Marine, which also will be a major supplier of equipment to the project. The vessels will have a length of 93 meters, a beam of 21 meters and will be equipped with the latest and most innovative marine technology. The vessels will have particularly high cargo capacities.

Roy Reite, responsible for the Offshore Service Vessels business area in Aker Yards ASA states in a comment: "Aker Yards has built 13 vessels to Farstad Shipping or its subsidiaries earlier, the latest being "Far Swift", delivered from Aker Brevik in mid 2003. This new contract confirms our good relationship with Farstad Shipping, and our strong market position in this segment."