October 20, 2004

Aker Finnyards in containership agreement

Aker Finnyards, a part of Aker Yards, has signed a Letter of Intent with Sweden's B & N Nordsjofrakt covering construction of three container vessels.

The vessels are intended to operate on the Gulf of Bothnia, between Kemi and Oulu in Finland and Gothenburg in Sweden.

B & N and Stora Enso intend to enter into a 15 years charter agreement for the vessels to carry special SECU containers (StoraEnso Container Units).

The 15,000 dwt vessels will be 188 m long, 26 m wide and can take 155 special size containers each.

The contract, worth in all around Euros 150 million (about US $187 million), implies about 1,000 man-years of work. All three vessels are planned for delivery in 2006.

"We are delighted to have signed this Letter of Intent", says Jyrki Heinimaa, President of Aker Finnyards in Rauma. "These vessels will sail in heavy ice conditions during the wintertime, and Aker Yards has significant knowledge in icegoing technology, having built all of the world's three multipurpose icebreakers."


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