October 11, 2004

More PSV orders for Aker Yards

Norway's Aker Yards has announced two recent contracts for platform supply vessels, one to be built at Aker Brevik, the other at Aker Brattvaag. In both cases, the hulls will be built in Romania.

The order at at Aker Brevik is from Olympic Master KS in Fosnavag, Norway, for a UT 755LN platform supply vessel. The value of the newbuilding contract is approximately NOK 125 million (about US$ 18.7 million).

The hull will be built at Aker Brevik's subsidiary in Romania, Aker Braila. Delivery of the vessel is schedueled for late June 2005.

Olympic Master KS has been set up by Bothun & Dokmo AS, Sandvika, Norway.

The other order has been placed with Aker Brattvaag by an undisclosed international shipping company and is for a UT 755L. The contract is worth approximately NOK 120 million (about US $18 million). Delivery is scheduled for September 2005 and the hull will be built by Aker Tulcea in Romania.

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