New buyer secures shipbuilding contract with Bergen Group

Bergen Group BMV in Norway has negotiated a contract with Island Offshore Shipholding Group LP about takeover of the shipyard hull number 164, a large DP3 offshore vessel that will be completed in the 2nd quarter of 2010.

The original contract for the construction of this vessel was made between Bergen Group BMV, a subsidiary of Bergen Group, and Aquanos Offshore in 2007. A change in the economic situation for the original purchaser made it necessary to bring in a new owner of the vessel. Island Offshore Shipholding Group LP takes over the new vessel without significant changes in contract conditions.

Island Offshore is a joint venture between Edison Chouest Offshore, Louisiana, USA and Island Offshore Group in Ulsteinvik. Island Offshore Group operates in the North Sea, Brazil, Mexico and the United States and currently has 18 ships ranging from PSV and AHTS vessels to advanced vessels for subsea operations.