Thenew vessel will be the second liftboat in the group’s fleet, the first being ajack-up rig which was acquired in 2012 and converted to an accommodation barge.

Theliftboat will be built in Guangzhou province in China at a total cost of about $46mand is expected to be delivered in December 2015.

Atlanticsaid it will use bank borrowings and internal resourcesto fund the newbuilding.

Italso