STX Europe has entered into new contracts with Island Offshore for the building of two Platform Supply Vessels. The vessels will be built at STX Europe in Brevik, and are based on the same design as Island Commander and Island Chieftain delivered from STX Europe earlier this year. The vessels are scheduled for delivery in Q4 2011 and Q1 2012. The total value of the contracts amounts to approximately NOK 800 million.

The vessels are of Rolls-Royce UT 776 CD design, and will be number five and six in this series delivered from STX Europe to Island Offshore.

Roy Reite, President of STX Europe's Offshore & Specialized Vessels business area, says:

"We have been awarded a total of 29 new building contracts with Island Offshore. We appreciate the close cooperation with Island Offshore, which is an innovative customer both in upturns and downturns in the offshore market. We look forward to continuing the good cooperation with the Island Offshore's team."

The vessels are scheduled for delivery in Q4 2011 and Q1 2012. The hulls will be built at STX Europe in Romania, and outfitted at STX Europe in Norway.