Aker builds another PSV for IOG

Aker Yards has signed a contract with Island Offshore Shipholding, a company within the Island Offshore Group (IOG) in Ulsteinvik, Norway, to deliver a 5,000 DWT UT 776 E platform supply vessel. The value of the contract is $36 million and delivery is slated for December 2006. The contract also includes an optional agreement for a similar vessel.

This is the fifteenth contract between the shipowner, IOG and Aker Yards. The hull for the PSV will be built in Romania. Delivery of the vessel is scheduled for December 2006.