Marine Log

March 9, 2006

Aker Kvaerner to supply arctic bow loading systems

Aker Kvaerner has been awarded a contract with Samsung Heavy Industries Co. Ltd in South Korea for delivery of bow loading systems for three new shuttle tankers able to operate in arctic conditions.

Another contract for delivery of two additional systems has also recently been signed with a Norwegian shipowner.

Total value of the two contracts is approximately NOK 50 million (about $7.4 million).

The Samsung contract is for offshore bow loading equipment for three shuttle tankers for Russian ship owner Sovcomflot.

Leif Haukom, President of Aker Kvaerner Pusnes, says the contract confirms the growing need for inboard bow loading systems as more oil and gas fields are developed in arctic areas. He says this type of equipment was first delivered in 2005 to Hyundai Heavy Industries Co. Ltd's five shuttle tankers for ExxonMobil's Sakhalin project in northeastern Russia".

In contrast to the more traditional bow loading systems, this type of system involves offshore loading where the 20 inch hose connection point is located well within the deck area of the shuttle tanker. Traditional shuttle tankers have an external connection point, coupler, protruding from the bow of the shuttle tanker during loading. A dedicated mooring system is included as part of the total equipment package for securing the shuttle tanker to the offloading facility.

The second contract with a Norwegian shipowner involves two traditional Pusnes bow loading systems to be installed on shuttle tankers that will be operating off the coast of Brazil. Aker Kvaerner Pusnes has delivered more than 70 of such systems globally.

Integrated safety features include; fail-safe brakes, interlock systems, stored energy system, load monitoring, intelligent sensors, and emergency release system to allow quick disconnect.

While the design and technology for these bow loading systems has been developed by Aker Kvaerner Pusnes, all the equipment will be manufactured by subcontractors in Europe and South Korea.

Delivery for the three shuttle tankers for Samsung will take place between January 2007 and December 2007.

The two systems for use offshore Brazil are to be delivered at the end of 2006.