DECEMBER 11, 2012 — Fred. Olsen Windcarrier International Ltd, which is indirectly owned 50/50 by Bonheur ASA and Ganger Rolf ASA, has been awarded a contract by the German company BARD Engineering GmbH for installation work of turbines and associated equipment at the "Bard Offshore 1" wind farm in German territorial waters.

The contract commences in March 2013 and is anticipated to take 150 days. The work will be performed using the installation vessel Brave Tern. The contract includes the provision of installation technicians from Global Wind Service A/S (DK) and one crew/service vessel of the Bayard class as provided by Fred. Olsen Windcarrier A/S (DK). Both Global Wind Service A/S and Fred. Olsen Windcarrier A/S (DK) are indirectly owned by Bonheur ASA and Ganger Rolf ASA.

Delivered from the Lamprell shipyard, Dubai, earlier this year, Brave Tern is the the first of two jack-up installation vessels designed by Gusto MCS and customized by Fred. Olsen Windcarrier based on knowledge gained from market experience.

The vessels are self-elevating and self-propelled with large open deck space to facilitate various deck layouts suitable for individual operations. The vessels have 800 tonne "wrap around the leg" offshore-rated cranes also designed by Gusto MSC as well as robust, continuous type jacking systems.

In addition, each vessel has a DP2-class type dynamic positioning system and is fitted with a Voith Schneider propulsion system enabling superior and secure positioning capabilities.

The installation vessels have high-quality accommodations for up to 80 persons in 56 cabins, as well as heli-deck to facilitate transfers during offshore wind farm installations.

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