IMO ENVIRONMENTAL REGULATIONS
Are IMO regulations tough enough to keep national governments from imposing stricter measures?

Yes--Mostly
Only partly
No--expect a slew of regional regs!

Marine Log

July 23, 2007

DeepOcean to add newbuild construction vessel

Norway's DeepOcean ASA says it has entered into an agreement with Volstad Maritime for a new build 120 m construction vessel of type ST-256L, to be launched in March 2009.

The agreement will be a limited partnership in which DeepOcean will have a 51 percent share and an option to purchase the vessel after five years. Volstad will manage the commercial and technical aspects of the vessel`s development and build.

Designed to the requirements of DeepOcean's subsidiary CTC Marine Projects Ltd., this new build will constitute a "next generation" vessel, operating as multi- role support with cable, umbilical and flexible product lay capabilities.

This vessel is the second to be built by Volstad for CTC Marine Projects Ltd. and will provide front line service for the company's global trenching and installation operations.

CTC Marine Projects is a leading marine trenching and installation contractor, . Its head office is in Darlington, U.K. and its major markets are in the North Sea and Asia.

CTC Marine Projects is part of the DeepOcean group of companies. DeepOcean is a leading subsea service provider operating a total of 14 subsea support, multipurpose DP vessels, 10 ROVs, module handling systems and related survey equipment. Its head office is located in Haugesund, Norway and the company`s major markets are in the North Sea and the Gulf of Mexico.

Volstad's first vessel for CTC is under construction at Fosen Yards AS. Also of Skipsteknisk ST-256 L design, it is scheduled for delivery in December 2007. It is commited to CTC on a long term T/C agreement. The vessel is a multifunctional ROV vessel, outfitted with DPII, a 150 tons crane, large deckspace and accomodations for up to 90 people.

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