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FOUR ULSTEIN PSVs NOW AT WORK FOR CHINESE OIL INDUSTRY

FOUR ULSTEIN PSVs NOW AT WORK FOR CHINESE OIL INDUSTRY

Monday, May 10, 2021 

During the year from May 2020 to May 2021 four sister vessels of the Ulstein PX121 platform supply vessel (PSV) design have been delivered to owner Sinoocoean, all having joined the COSL fleet and operating in Chinese waters serving the local oil industry.

Guo Hai Min Qiang is the most recent delivery of the four vessels to the PX121 design series from Ulstein, expanding the number of vessels in operation of this design to 24, with six more under construction. The original contract was signed with Pacific Radiance Group, for two vessels and two options back in 2013, to be built at Shanghai Waigaoqiao Shipbuilding (SWS), a subsidiary of China State Shipbuilding Corporation (CSSC). In 2017, the four PSV newbuilds under construction were transferred to Tianjin CSSC CCB Investment Management, an asset management company also subsidiary of CSSC. Now, all four vessels are operating under the Chinese flag and classed by China Classification Society.

In addition to PSV duties, the vessels are prepared to perform additional activities, featuring increased accommodation for up to 30 people and provision for crane and ROV installation, which give the vessels the opportunity to trade in the IMR market.

The X-Bow hull design allows for better transit speed and efficiency, saving time and cost for the ship owner and clients.

The Ulstein PX121 design has been proven to offer an optimal combination of size and fuel efficiency. Reduced slamming and vibrations due to the patented hull solution helps to reduce the fuel consumption to the benefit of the natural environment. The optimal motion characteristics are beneficial to the crew, and improved comfort is also considered an improvement in safety. The design meets most clients’ operational expectations in terms of e.g. deck space, capacities, speed, position holding capabilities and fuel efficiency.

The contract with Ulstein included basic design, engineering, and an extensive package of equipment. The first PX121 started operations in 2012, after which the design quickly gained popularity as charterers and shipowners discovered that the vessel meets typical PSV requirements with a fuel efficient and competitive combination of loading capacity, speed and discharge capability.

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