Island Offshore Adds Two to Tab at STX OSV

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June 29, 2012

Rolls-Royce’s UT 717 CD design

STX OSV Holdings Ltd. (MS7.SG) said Friday it secured contracts worth about NOK500 million ($83.5 million) to build two platform supply vessels for Island Offshore Group.

The PSVs are scheduled to be delivered from STX OSV’s Norway shipyard in the fourth quarter of 2013 and the second quarter of 2014, respectively, the Singapore-listed shipbuilder said in a statement.

The vessels will be of Rolls-Royce’s UT 717 CD design, a development of the popular Rolls-Royce UT 700 series, with an overall length of 84.3 meters, a beam of 17 meters, and an approximate deadweight of 3800 DWT.

Island Offshore Group manages a fleet of 22 vessels with an average age of less than four years, currently operating in Brazil, Mexico, USA and in the North Sea. STX OSV has delivered more than 25 vessels to Island Offshore over the past ten years, and already has five vessels under construction not including the two vessels ordered today.

Earlier this month Island Offshore took delivery of the MV Island Crusader from STX OSV in Norway.  Island Crusader is of UT 776 CDG, where the G stands for gas, and is the first offshore supply vessel in the world to operate in DP II without using diesel.

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