NAO Back at Ulstein

Nordic American Offshore Ltd. (NAO) has decided to buy two more platform supply vessels (PSVs) from Ulstein, increasing its fleet to eight vessels of the same type.

Nordic American Offshore Ltd., a subsidiary of Nordic American Tankers Limited (NAT), currently has six platform supply vessels operating in the demanding North Sea market.

The PSVs are highly sophisticated vessels, representing the latest in design and technology, and they play an integral role in the logistical chain in offshore exploration and production of oil and gas. The two newbuildings will be delivered in January 2015 and will cost about $44 million each.

[mappress]
Press Release, February 10, 2014