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Marine Log

PSV-06-CD

November 1, 2007

"K" Line enters offshore services market

Shipping giant "K" Line is adding offshore services to its activities. Earlier this year, it signed a contract with Aker Yards for two AH 12 anchor handlers worth approximately NOK 1.7 billion for delivery in the fourth quarter of 2010 and second quarter of 2011 (see earlier story). At the time, Aker yards identified the owner only as "an international shipping company."

Today, Aker Yards announced it has signed a contract with "K" Line Offshore AS for building of four Platform Supply Vessels of Aker Yards PSV 06 CD design. The total value of this contract is approximately NOK 1.4 billion. Delivery of the four Platform Supply Vessels is scheduled between fourth quarter of 2010 and third quarter of 2011.

Roy Reite, President of Aker Yards' Offshore & Specialized Vessels business area, says:

"I am pleased to see that Aker Yards has been awarded this contract with "K" Line, which is one of the largest ship owning/operating companies in the world, with more than 460 vessels in its fleet. We look forward to cooperate with this new strategic customer in the offshore market."

The hulls for the vessels will be built at Aker Yards in Romania and they will be outfitted at Aker Yards in Norway.

The vessels will have a length OA of 94.90 m. a beam of 20 m and a deadweight of 5,100 tonnes. The main engines wilkl deliver 8,800 kW. Speed will be 16 knots and accommodations will be provided for 25 people.

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