Island Offshore with major investment in anniversary year

9 May 2024

In April 2024, it was 20 years since the shipping company Island Offshore was established. Now, the shipping company is again making a bold move by ordering a large Ocean Energy Construction Vessel from Vard with options for two more, designed and equipped to continue the transition from oil and gas-related activities to more work in new energy markets related to the sea. This is based on a new and improved design, modern low-emission technology, and efficient maritime operations.

Island Offshore brings solid experience, which has accumulated over twenty years as a shipping company. When Island Offshore Management AS took over MV Island Frontier, hull number 137 from Søviknes Yard, on April 27, 2004, the UT 737 L was the first design built according to DNV's rules for Ship-Shaped Well Intervention Units and the Norwegian Maritime Authority’s requirements for Mobile Offshore Units. This also began the company's focus on light well intervention. Island Frontier received considerable media attention upon delivery: "There is a lot of development work and many innovations in 'Island Frontier'."

For many years, the Ulstein family had been co-owners of several ships operated by other shipping companies. These projects were terminated before and after the delivery of Island Frontier, and the long-term collaboration with the Chouest family was established. Since then, Island Offshore has taken delivery of more than fifty offshore vessels—all from Norwegian shipyards and with Norwegian suppliers as essential partners.

"We are proud that Island Frontier is still part of our fleet. The ideas and thinking behind this project have propelled the company forward and inspired many other ships to be added to the fleet later. We like to think that we are committed to innovation and entrepreneurship, and that this has been fully demonstrated through twenty years as a pioneering force among offshore shipping companies," says owner Håvard Ulstein.

The upcoming fleet vessels are of the VARD 3 25 design, developed in collaboration with Island Offshore. They are designed for stable, flexible, and efficient operations, boasting excellent seakeeping qualities and a strong environmental profile.

The vessels are highly versatile and capable of flexible applications such as subsea operations, including IMR (inspection, maintenance, and repair), pipe laying, seabed installations, W2W, cable laying, and repairs.

Image by Island Offshore

"We strongly believe in the future and are proud to be able to invest again after many difficult years. This is tomorrow's workplace at sea, and we hope customers will welcome the boats warmly. The development and renewal of the fleet are necessary to ensure the long-term and profitable operation of the company. The world needs energy from the sea," says CEO Tommy Walaunet.

The first ship will be named Island Evolution to symbolize the strong focus on development and future belief among Island Offshore's owners and employees, and it will be due for delivery in Q1 2027.

Technical Information:
• Length 120 meters, width 25 meters
• Load-compensated offshore subsea crane of 250 tons
• Engine set prepared for alternative low-emission fuels
• Accommodation capacity for 130 persons
• DP2 positioning
• Energy storage system (battery) for hybrid propulsion with a capacity of 1MHW
• Efficient heat recovery system for water and air
• 2 ROV LARS systems
• Prepared for "Walk2Work" gangway
• Good facilities for the crew

Island Offshore, press release