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Ocean Infinity to charter Island Pride
Ocean Infinity to charter Island Pride
Ocean Infinity has agreed a seven year contract with Island Offshore for Island Pride.  The vessel will expand Ocean Infinity’s platform for AUV data acquisition and analysis, and support a variety of operations globally.  Press release from Ocean Infinity: Since its launch in July 2017 Ocean Infinity has developed the next generation of undersea data gathering techniques. Over the course of the last 12 months the systems and processes used by Ocean Infinity have changed materially from the initial operational concepts and ideas.  Today, no one else in the world leverages underwater technology in the same way.  Ocean Infinity’s innovative, dynamic and cost-effective approach to undersea data is of relevance to everyone who has a need or desire to better understand the ocean and seabed environment whether they be from the military, government or commercial sectors.  Island Pride is a multi-functional subsea support and construction vessel of UT 737 design. 103 metres in length with a beam of 21 metres and free deck space of 880m2.  Equipped with deep water crane and two work-class ROVs Island Pride is well suited to Ocean Infinity’s operations.  It is the ideal platform from which to run a highly technology focused operation. CEO Oliver Plunkett of Ocean Infinity commented, "We are very excited to have agreed this charter with Island Offshore. Given our success in the market and our clear path to future growth we felt it was important to expand by partnering for the long term.  Island Offshore have proved to be a great vessel owner to work with and we look forward to a long and successful relationship as our business continues its rapid expansion." Havard Ulstein, CEO Island Offshore, commented “This charter is a clear statement of confidence in our vessel, crew and the long term stability of our business. We are thrilled to join Ocean Infinity as they push the boundaries of technology and that they chose us to support them in that goal.” Ocean Infinity is a technology company who specialize in the merging of big data and subsea technology. Our comprehensive subsea solution can collect and process data from one vessel. With multiple autonomous vehicles working simultaneously and AI deep learning, critical information is provided quickly and efficiently. We operate in shallow and deep waters while working in dynamic environments ranging from the tropics to under Antarctic ice, delivering accurate results to use for seabed intelligence. Island Offshore is a leading provider of high quality solutions for the offshore oil industry based on a fleet of advanced high quality service and subsea service vessels. The Island Offshore Group is privately owned and comprises a group of ship owning and management companies. The Island Offshore Group is currently operating a fleet of 26 vessels ranging from Platform Supply vessels, Anchor Handling Vessels, Subsea Construction Vessels to Light Well Intervention Vessels. In addition, the Group has one vessel under construction.   Contact Information For more information explore oceaninfinity.com or follow us on (@OceanInfinityAUV, #seabedintelligence, #AUV, #USV) Marketing & Press Release questions contact Jennifer White +1 (985) 520-2365 or Jennifer.white@oceaninfinity.com America’s                                                            Europe, Africa and Asia                                                  +1 (346) 330 -7000                                          +44 203 884 0900  
09.07.18 10:43
LNG- powered platform supply vessels for Lundin Norway
LNG- powered platform supply vessels for Lundin Norway
Once again Lundin Norway has chosen Island Offshore’s LNG-powered platform supply vessels (PSV) for its operations on the Norwegian continental shelf.“Lundin Norway is a customer that makes demands on as well as challenges their suppliers, and we appreciate that. Choosing vessels fuelled on pure LNG is characteristic of Lundin Norway’s environmentally conscious attitude and demonstrate that they take responsibility in reducing harmful emissions”, says Håvard Ulstein, Managing Director of Island Offshore Management AS. Island Offshore was a pioneer of LNG as a fuel for platform supply vessels (PSV) when ordering the two vessels; delivered in 2012. The UT 776 CDG hullform has a low resistance over a wide speed range, and the Island Offshore vessels can in practice run on gas alone at almost all speeds. In moderate weather conditions the vessels are DP2 compliant with two gas engines supplying all the power required. Two large main lean burn gas engine gensets, type Bergen C26:33L9AG, each with an output of 2,102kWe, and two smaller C25:33L6ACD diesel engine gensets each rated at 1,843kWe were carefully selected to optimise efficiency across the operation profile of the vessels with the objective of running on LNG fuel whenever possible. “We highly appreciate having Lundin Norway as a customer and the good cooperation concerning environmentally beneficial operation of the vessels is especially gratifying,”, says Ulstein. “Island Offshore chose pure LNG engines for maximum reduction in emissions. Total equivalent CO2 reduction is about 25% compared with engines burning heavy fuel. These engines also reduce NOx levels by about 90% compared to diesel engines, while particulate and SOx emissions are negligible”, Ulstein continues. A positive side effect of gas fuel is clean engine rooms and reduced engine maintenance. Engine lube oil remains clean and has a very long life, and absence of oil fuel purifiers means that there is little sludge to dispose of. Caption: Håvard Ulstein in the engine room of Island Crusader                                 Photo credit: Kjetil Haanes For more information, please contact: Managing Director Håvard Ulstein Tel. (47) 70 40 00 21

23.03.18 12:56
TechnipFMC and Island Offshore enter into a strategic collaboration agreement within Light Well Intervention
TechnipFMC and Island Offshore enter into a strategic collaboration agreement within Light Well Intervention
LONDON, PARIS, HOUSTON, February 01, 2018 — TechnipFMC (NYSE: FTI) (PARIS: FTI) has signed an agreement with the Island Offshore group to acquire a 51% stake in Island Offshore’s wholly owned subsidiary, Island Offshore Subsea AS. Island Offshore Subsea AS provides Riserless Light Well Intervention (RLWI) project management and engineering services for plug & abandonment (P&A), riserless coiled tubing and well completion operations. Island Offshore Subsea AS employs approximately 80 staff.Island Offshore Subsea AS has developed proprietary designs related to subsea P&A and riserless coiled tubing. In connection with the acquisition of the controlling interest, TechnipFMC and Island Offshore will enter into a strategic cooperation agreement to deliver RLWI services on a worldwide basis, which will also include TechnipFMC’s RLWI capabilities. Island Offshore Subsea AS will be rebranded and become the operating unit for TechnipFMC’s RLWI activities worldwide.   Morten Ulstein, Chairman of the Island Offshore Group, stated: “Over the years we have had a rewarding cooperation with TechnipFMC, and we now see that an even closer integration of our companies and services is right to further develop and strengthen our position within RLWI, both in Norway and internationally.”   Hallvard Hasselknippe, President of TechnipFMC’s Subsea business, stated: “We are now able to deliver a complete range of RLWI services to markets, globally. Our current track record delivering RLWI services together with Island Offshore has significantly increased production from more than 500 subsea wells.”   Odd Strømsnes, Vice President of Offshore Integrated Services at TechnipFMC, will be the Managing Director of Island Offshore Subsea AS.   The agreement with TechnipFMC is subject to the satisfaction of certain closing conditions.   ###   Important Information for Investors and Securityholders Forward-Looking Statements This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from the Company’s historical experience and present expectations or projections. These risks, uncertainties and assumptions relate to, among other things, the Company’s ability to consummate the proposed transaction with Island Offshore Subsea AS, including the satisfaction of the conditions to consummation of the transaction; the Company’s ability to successfully integrate Island Offshore Subsea AS’ operations and employees as well as to work with a minority partner in Island Offshore Subsea AS; the Company’s ability to realize anticipated synergies and cost savings from the transaction with Island Offshore Subsea AS; and the potential impact of the announcement or consummation of the transaction with Island Offshore subsea AS on relationships, including with employees, suppliers, customers and competitors of the Company and Island Offshore Subsea AS . For additional information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Registration Statement on Form S-4, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.   We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law. ###   About TechnipFMC TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics. We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources. Each of our more than 40,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to TechnipFMC.com and follow us on Twitter @TechnipFMC. Contacts

Investor relations Matt Seinsheimer Vice President Investor Relations Tel: +1 281 260 3665 Email: Matt Seinsheimer Phillip Lindsay Director Investor Relations Europe Tel: +44 203 429 3929 Email:  Phillip Lindsay James Davis Senior Manager Investor Relations Tel: +1 281 260 3665 Email: James Davis Media relations Christophe Belorgeot Vice President Corporate Communications Tel: +33 1 47 78 39 92 Email: Christophe Belorgeot Delphine Nayral Manager Public Relations Tel: +33 1 47 78 34 83 Email: Delphine Nayral       ###   About Island Offshore  Island Offshore operates a modern and versatile fleet of 25 advanced and high quality service vessels for the offshore oil industry. The company has taken a leading position within attractive market segments such as platform supply, anchor handling, walk-to-work, well stimulation, subsea construction and light well intervention. The main office of Island Offshore Management AS is situated in Ulsteinvik, Norway, while subdivisions in Stavanger, Norway, and Aberdeen, UK, supports LWI operations. In addition a crewing department is established in Lisbon, Portugal.  The fleet works on a worldwide basis.
  Contacts  Håvard Ulstein, Managing Director Mob.: +47 99 23 50 39 Email: havard@islandoffshore.com Or Marianne Hovden, Communications Manager Mob.: +47 95 14 39 30 Email: marianneh@islandoffshore.com  
01.02.18 23:12
TERMINATION OF ISLAND NAVIGATOR CONTRACT
TERMINATION OF ISLAND NAVIGATOR CONTRACT
Kawasaki Heavy Industries, Ltd. (KHI) announced today that the company has decided to terminate, by agreement with Island Navigator I KS, its shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator.The yard state that is has been facing difficulties in its engineering process as well as with increases of material costs since the contract was signed. Combined with a common understanding that the environment surrounding the offshore development industry is, and will be, severe and unpredictable in the period of the Vessel’s remaining construction, and the ongoing financial restructuring of the Island Offshore Group, KHI and Island Offshore reached a mutual agreement to terminate the shipbuilding contract for the Vessel. “The Island Navigator would have been a fantastic vessel. Going forward we choose to develop our existing Light Well Intervention vessels which still is the leading and most modern vessels within its niche,” says Håvard Ulstein, Managing Director of Island Offshore Management AS. The termination will not have any negative economical consequence for Island Offshore. Provided that the banks which finance the project consent, the termination will be implemented in January 2018.   For more information, please contact Island Offshore Management: Håvard Ulstein, Managing Director Tel. (47) 992 35 039 E-mail: havard@islandoffshore.com  
26.12.17 13:49
Notice from bond holders meeting 14.12.2017
Pleace find attached a notice from todays meeting with the bondholders (ISIN: NO0010673866 and ISIN: NO0010760507):
14.12.17 14:10
q3 financial report
The Q3-17 Financial Report for Island Offshore Shipholding LP was issued today. Please find it attached. For more information, please contact the Island Offshore Group: Henning Sundet, CFO/Investor Relations Tel. (47) 913 65 735 E-mail: hsundet@borgstein.no
10.11.17 16:06
Q2 Financial report
The Q2-17 Financial Report for Island Offshore Shipholding LP was issued today. Please find it attached.  For more information, please contact the Island Offshore Group: Henning Sundet, CFO /Investor relations Tel. (47) 913 65 735 E-mail: hsundet@borgstein.no
31.08.17 16:45
Weak markets and extensive seasonal lay-up impair Q1-17 results for Island Offshore
The Group reports revenue of NOK 259 mill in Q1-17, down from NOK 363 million in Q4-16, and NOK 419 million in Q1-16. Fleet utilization in Q1-17 was 49% including vessels in lay-up, but has improved in April and May 2017 following mobilization of vessels for contracted work. The fleet comprises 25 vessels. Three vessels were divested in January/February 2017 as part of the ongoing restructuring of the Group. A total of 5 PSV vessels are currently in lay-up, and are expected to remain out of market until sustainable term work can be secured. Revenue this quarter is significantly reduced due to vessels in seasonal lay-up in addition to vessel sales. All three LWI units were in seasonal lay-up this quarter, in addition to PSVs and SCVs now mobilized for contracted work from Q2-17. As a result, EBITDA in Q1-17 totals NOK 60 mill versus NOK 116 mill in Q4-16, with the reduction mainly due to low utilization and lay-up. Cost improvements provide important contributions to earnings, and will be continued but market conditions must improve fundamentally to enable significant earnings improvement. Due to the continued state of the market and the implications for cash flow, the Group initiated negotiations for a Standstill and Deferral Agreement with all secured creditors effective 22nd November 2016. Negotiations with the secured lenders are progressing but establishing a sustainable long-term solution will take more time than initially anticipated. Target closing date is 30th June 2017. Important recent contract awards allow for certain vessels to be taken out of lay-up and into operation. Day rates are low but acceptable considering the alternative of continued lay-up. The awards have been secured with strategically important and recurring customers. Overall spot and term rates in the PSV and AHTS markets continue to be depressed by reduced activity and vessel oversupply. However there are signs of increased activity enabling opportunities for certain vessels. Island Offshore do however not expect to see a more extensive market recovery until a more sustainable oil price is established, inducing increased E&P investment and market activity. The order backlog excluding charterer’s options totals NOK 2.7 billion at 31.3.2017. Contract coverage for the remainder of 2017 is 55% and has improved following recent awards.   Island Offshore Shipholding, L.P. (the “Company” or “Island Offshore”) is the parent company in the Island Offshore group (the “Group”). At present the Group has 25 vessels in operation within the vessel segments PSV, AHTS, Well Stimulation (WS), Subsea Construction (SCV) and Light Well Intervention (LWI). The fleet operates in Norway, Denmark, UK, Holland, India and Angola. The fleet is modern and versatile and Island Offshore has taken a leading position in attractive market segments. The Group is privately owned. To read the complete report, please follow this link: http://www.islandoffshore.com/Installations/fwk/sites/island2/islandoffshore_q1_financialreport_2017.pdf    For more information, please contact the Island Offshore Group: Henning Sundet, CFO /Investor relations Tel. (47) 913 65 735 E-mail: hsundet@borgstein.no      
29.05.17 09:51
consolidated financial statement for 2016
12.05.17 15:44
ISLAND CROWN TAKES A SHARE IN PLANNED TITANIC EXPEDITION
ISLAND CROWN TAKES A SHARE IN PLANNED TITANIC EXPEDITION
Island Offshore has entered into an agreement with OceanGate Expeditions for the use of Island Crown as a surface support vessel during a planned deep water expedition next year- the first manned submersible survey of the wreck of the RMS Titanic since 2005.The assignment will have a duration of ten weeks for the Island Crown from the end of May 2018, when the vessel will depart from St. John’s, Newfoundland, with the primary operations crew on board. Each of the mission specialists will join the expedition by air for a designated 8 day mission. The ship has accommodations for up to 30 operations crew, mission specialists and content experts which will enjoy private living quarters on board. “We could not turn down this rare opportunity; to be part of such an extraordinary and interesting project! At the same time, the Island Crown’s role in it doesn’t differ that much from the vessel’s regular work in the offshore industry: She will do what she does best; carry people and equipment, and taking care of the clients on board. We are very pleased to have secured work for the summer months next year,” says Managing Director of Island Offshore Management AS, Håvard Ulstein. At 3.800 meters depth Since her sinking 105 years ago, fewer than 200 people have ever visited the RMS Titanic. Now, OceanGate is constructing a carbon fibre and titanium submersible which will carry five crew members at a time to the Titanic at 3.800 meters depth. The whole site is a memorial, hence the mission will be undertaken with great respect for those who lost their lives in the sinking. No artefacts will be collected during the expedition, all in accordance with UNESCO guidelines for the preservation of underwater world heritage sites.  Experts from the Advanced Imaging and Visualization Laboratory (AIVL) at Woods Hole Oceanographic Institution (WHOI) will collaborate on the expedition, and will lead the efforts to capture the images of the wreck from the submersible and then assemble these overlapping images into a 3D photographic model of the wreck after returning to the surface. This will document the gaps in the current knowledge of the wreck and increase the understanding of what is needed to preserve and protect this world heritage site. Summer season 2017 The Island Crown has also secured work for the summer season this year, with walk-to-work assignments until the end of September. The vessel just completed a month-long job for Bluestream at Nordsee One Windpark, and moved uninterrupted on to the next job for Van Oord at the same wind farm. About Island Crown The Island Crown is a subsea construction vessel which since delivery in 2013 mainly has performed walk-to-work services at oil-, gas and wind installations. The vessel is 96.8 meters long and 20 meters wide with accommodations for a total crew of 100 persons on board. The Island Crown is equipped with a gangway system, subsea crane, helipad, large tank capacity and a cargo deck area of 561m2.     For more information, please contact Island Offshore Management AS: Håvard Ulstein, Managing Director Tel. (47) 70 40 00 21                                                 havard@islandoffshore.com or Marianne Hovden, Communications Manager Tel. (47) 70 40 00 60                                marianneh@islandoffshore.com  
27.04.17 15:11