DeepOcean Hires and Purchases

The vessel will be delivered to the ship owner and DeepOcean in January 2008. VOS Satisfaction is a dynamic positioned ROV/Survey vessel of about 60 metres length. The vessel will be outfitted with multi-beam echosounders and a ROV system to perform route survey and seabed mapping tasks plus general lay support to clients with projects in the southern part of the North Sea, the Baltic Sea and the Mediterranean. The Vessel will be chartered in for three years firm with two yearly options and will be operated from the DeepOcean's offices in Den Helder and Norwich.

Purchase Arbol Grande

DeepOcean Shipping AS has notified the owner of the multi purpose support vessel Arbol Grande its intention to exercise the option to purchase the vessel at a price of EUR28.75 million (USD41.13 million). According to valuations done by two independent shipbrokers, the present market value of Arbol Grande is estimated to NOK440 million (USD81.03 million).