Aker Yards to build construction vessel

Aker Yards has entered into a contract with Farstad Shipping ASA for the building of one Construction Vessel with a value of approx NOK 850 million. Aker Yards, Langsten is to build a 121.5 m x 26 m Construction Vessel for Farstad, based on the Rolls-Royce design; UT 761 CD. The Vessel is scheduled for delivery from Aker Yards, Langsten in the fourth quarter of 2008. The vessel will after delivery enter into a long term charter with Saipem UK Ltd. The vessel is specially designed for plough duties in connection with pipe laying of oil and gas pipes offshore. The vessel will have a Bollard Pull of more then 350 tons, and all equipment necessary to support the most challenging operations and environments world wide.