Island Offshore Aligns Long-Term Strategy And Alignment For The Island Condor Project

Written by Paulo Nogueira

Published on 28/12/2023 at 18:40

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Norwegian Shipowner Island Offshore Secures Long-Term Employment for Its Offshore Support Vessel, Island Condor, Starting Fall 2024.

The alignment of the offshore support vessel Island Condor, from the Norwegian shipowner Island Offshore, has secured long-term employment starting fall 2024.

‘This is a fantastic Christmas gift for the company! We have intentionally worked to secure longer tasks, and we are grateful for the trust the client has shown us’, said Tommy Walaunet, Managing Director of Island Offshore Management AS.

Having worked as a work vessel in the UK sector for many years, in addition to Norwegian projects last year, the Island Condor will now be converted for a long-term contract with an undisclosed Norwegian client.

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Alignment with Future Expectations

Our expectations for the coming years are thus maintained and strengthened. We have good experience in adapting vessels to new and attractive segments. The conversion of one of our supply vessels for other activities is a result of initiative, innovative thinking, and highly qualified employees in the organization’, said Walaunet.

Details of the Island Condor

The Island Condor is a platform supply vessel with a UT 776 CD design built by the Norwegian Vard Brevik in 2014. The 5,300 dwt vessel is 97 meters long, 20 meters wide, and has 1,000 square meters of deck space.

Transformation to Meet New Demands

Starting next fall, the Island Condor will operate as a construction vessel equipped with two remotely operated underwater vehicles (ROVs), an offshore crane, a helipad, and a larger battery set. The center section of the vessel, including internal fittings, will be expanded, and an ROV hangar will be built. Thus, the vessel is set up to carry out inspection work, crane operations, and similar tasks for the oil and gas and renewables sectors. Island Condor has SPS class with a cabin with a capacity for 83 people.

Planning and Delivery

The vessel will be converted at Myklebust Yard in Norway and delivered to the client in September 2024.

Cooperation and Financial Expectations

‘This is an important and challenging conversion for the Island Condor, and it is particularly pleasing to use local forces and suppliers. We have a long and good cooperation with Myklebust Yard and other suppliers in the region, and it is easier for us to monitor progress when the vessel is located very close to the office’, said Walaunet.

Projections and Fleet Utilization

Island Offshore stated that it expects to achieve revenue of 2.3 billion Norwegian crowns in 2023, and total fleet utilization is around 93% so far this year. The Island Offshore fleet currently consists of 21 operational vessels, most of which are well secured with work until 2024.

Island Offshore Aligns Long-Term Strategy And Alignment For The Island Condor Project

Norwegian Shipowner Island Offshore Secures Long-Term Employment for Its Offshore Support Vessel, Island Condor, Starting Fall 2024.

Alignment with Future Expectations

Details of the Island Condor

Transformation to Meet New Demands

Planning and Delivery

Cooperation and Financial Expectations

Projections and Fleet Utilization

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Island Offshore Aligns Long-Term Strategy And Alignment For The Island Condor Project

Norwegian Shipowner Island Offshore Secures Long-Term Employment for Its Offshore Support Vessel, Island Condor, Starting Fall 2024.

Alignment with Future Expectations

Details of the Island Condor

Transformation to Meet New Demands

Planning and Delivery

Cooperation and Financial Expectations

Projections and Fleet Utilization

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