Rolls-Royce Develops New Offshore Support Vessel

RNS Number : 2324I

Rolls-Royce Holdings plc

29 May 2014

 



29 May 2014

ROLLS-ROYCE DEVELOPS A NEW MULTI-FUNCTIONAL OFFSHORE VESSEL FOR

ISLAND OFFSHORE

Rolls-Royce has secured a contract to design and equip a large offshore support vessel for Norwegian ship owner Island Offshore. The vessel, named Island Victory, will be a multi-functional design with a flexible operational profile, and will be one of the largest vessels in Island Offshore's fleet.

The UT 797 CX design from Rolls-Royce features a 250 ton offshore crane, Remotely Operated Vessels (ROV's) and a large moonpool, enabling the vessel to perform heavy anchor handling operations and deep subsea installation work. The bollard pull will be more than 400 tons and the vessels will be 123 meters long and encompass a deck area of 1100 sq m. 

Håvard Ulstein, Island Offshore CEO, said: "This will be an extremely strong workhorse with many capabilities. We are confident that Island Victory will be commissioned fast, as the need for subsea work is rising. The flexibility of also being an excellent anchor handling vessel makes it additionally attractive."

John Knudsen, Rolls-Royce, President - Offshore, said: "Once again Island Offshore has ordered a tailor made vessel to meet current and future market needs. We truly enjoy working with this ship owner and take pride in the fact that they repeatedly choose our design team in Norway as their partner."

Island Victory will have room for 110 people and will therefore be suitable for use as an accommodation vessel in oilfields.

The contract value to Rolls-Royce is approximately £35m. Delivery is scheduled from Vard Brevik in Norway in the second quarter of 2016. The hull of the vessel will be delivered from Vard Tulcea in Romania.

About Rolls-Royce Holdings plc

1.   Rolls-Royce's vision is to create better power for a changing world via two main business segments, Aerospace and Marine & Industrial Power Systems (MIPS). These business segments address markets with two strong technology platforms, gas turbines and reciprocating engines, for use on land, at sea and in the air.

2.   Aerospace comprises Civil Aerospace and Defence Aerospace. MIPS comprises Marine, Energy & Nuclear and Power Systems (RRPS). On 7 March 2014, Daimler announced their intention to exercise their option to sell their 50% share in RRPS to Rolls-Royce Holdings plc. On 16 April 2014, the valuation was agreed and the transaction is expected to complete within the coming months, subject to the usual regulatory approvals. On 6 May 2014 Rolls-Royce announced it had signed an agreement to sell its Energy gas turbine and compressor business to Siemens for a £785m cash consideration. On completion, expected before the end of December 2014, Rolls-Royce will receive a further £200 million for a 25 year licensing agreement.

3.   Rolls-Royce has customers in more than 120 countries, comprising more than 380 airlines and leasing customers, 160 armed forces, 4,000 marine customers, including 70 navies, and 1,600 energy and nuclear customers.

4.   Our business is focused on the 4Cs:

·     Customer - placing the customer at the heart of our business

·     Concentration - deciding where to grow and where not to

·     Cost - continually looking to increase efficiency

·     Cash - improving financial performance.

5.   Annual underlying revenue was £15.5 billion in 2013, around half of which came from the provision of aftermarket services. The firm and announced order book stood at £71.6 billion at 31 December 2013.

6.   In 2013, Rolls-Royce invested £1.1 billion on research and development. We also support a global network of 31 University Technology Centres, which position Rolls-Royce engineers with the forefront of scientific research.

7.   Rolls-Royce employs over 55,000 people in 45 countries. Over 17,000 of these are engineers.

8.   The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills. In 2013 we employed 379 graduates and 288 apprentices through our worldwide training programmes.

For further information, please contact:

Investors:

Simon Goodson
Director, Investor Relations

Rolls-Royce plc

Tel:      [phone]

Email: [e-mail]

Media:

Richard Wray
Director of External Communications

Rolls-Royce plc
Tel:      [phone]
Mobile [phone]
Email:  [e-mail]

www.Rolls-Royce.com

 

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