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Craig Group to Invest £50 Million in New Vessels

Source: 2/6/2012, Location: Europe

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North Star Shipping, a division of the family-owned global shipping and energy services firm The Craig Group, has been awarded a major new contract with Talisman Energy (UK) Ltd. Under the contract the company, which provides offshore support vessels to the industry, will build two new platform supply vessels to support Talisman Energy’s North Sea Operations. The contract, which is for five years with multiple options thereafter, will create 50 new jobs and represents a further £50million investment by The Craig Group in its fleet. The two IMT-982 designed vessels, still to be named, will be 83 metres long with an 18 metre beam and have diesel electric propulsion systems offering a greater fuel economy and efficiency. They have been specifically designed to meet the requirements of Talisman Energy in the North Sea. They will be built at the Balenciaga Shipyard in Northern Spain and are due for delivery in the second and fourth quarter of 2013. They will bring the Craig Group fleet to 37 and reinforce its position as the biggest wholly UK owned offshore support fleet.

Callum Bruce, managing director of North Star, said: “The award of this contract secures our position at the forefront in the provision of vessels in the North Sea. Our major investment in state-of-the-art vessels supports the UK offshore industry and its employees as well as showing our continuing support to British shipping.”

Douglas Craig, chairman and managing director of the Craig Group, said: “Through continuous investment in our people, infrastructure and vessels, we are demonstrating our commitment to meeting the needs of clients with a service that is driven by safety and quality.

“The new vessels meet Talisman’s expectations in terms of safety, operability and efficiency and we continue to look for ways to provide the most innovative, cost effective solutions for all our customers.”

The Craig Group fleet, operated by North Star, now stands at 31 vessels in service with a further six vessels under construction.

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