Nordic Maritime Pte Ltd in JV with Ferncliff TIH AS acquiring 2+2 DP2 Accommodation and Construction barges.

December 2010

Nordic Construction Limited (Nordic Maritime Pte. Ltd. and Ferncliff TIH AS) has entered into a turnkey contract for construction of two accommodation barges, unit #1149 (Nordic Constructor I) and unit #1150 (Nordic Constructor II) with an option for unit 3 and 4 at NGV Tech Sdn Bhd Shipyard in Malaysia .

The two DP2 – 400 Men Accommodation / Construction Barges (Kongsberg SDP System and 6 X Retractable Thrusters from Rolls Royce, 140 cabins and 400 beds) are to be delivered Q1 2012.

Investment per unit is USDm 41-43, payment of 15% at 15th December 2010, 85% at delivery. Refund guarantee for 15% down payment from Malaysian leading bank. Nordic Construction Limited can cancel the contract if the yard does not meet the mile stones.

About Nordic Group of companies (“Nordic”)

Nordic Maritime Pte Ltd is a Singapore based Ship Owner & Management Company providing a complete range of offshore marine services. Our extensive fleet operation experience comprises, specialized seismic survey vessels, chase boats, PSV/AHTS vessels, crew boats, diving support vessels and offshore construction vessels & barges. In addition, Nordic provides complete project management and building supervision of specialized offshore vessels.

Nordic Maritime Pte Ltd operates in strict compliance with International Maritime Organisation’s (IMO) International Safety Management Code (ISM) and is accredited by both Det Norske Veritas (DnV) and Russian Maritime Register of Shipping.