Lundin Charters Two Island Offshore’s PSVs

Norway’s Island Offshore has secured 2 x term contracts with Lundin Norway AS, for the charter of MV Island Crusader and MV Island Contender platform supply vessels.

According to the owner, these two vessels of the UT 776 CD(G), set a new standard in the industry as the first offshore supply vessels in the world capable of pure gas operations, providing the most cost effective and environmentally friendly service available in the industry at present.

The start of the contracts is scheduled for May 13, and the vessels will support the SS Island Innovator during its drilling campaign with Lundin in the North and Barents Sea. The duration of the firm period is estimated to 2,5 years with several optional wells.

“By chartering these vessels Lundin confirms their position as one of the most environmentally friendly operators in the North Sea. We thank charterers for their commitments and wish Lundin success with their upcoming drilling campaign and look forward to the cooperation,” said Island Offshore in a statement.

Asked by Offshore Energy Today about the value of the contracts with Lundin, Island Offshore’s charter manager Hallgeir L. Reitan said that the contract value was confidential. He added: “We are noting that the PSV market is getting tighter, which is good for Island Offshore who will take delivery of 4 vessels this year.”

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Offshore Energy Today Staff, March 5, 2013