Jotun in milestone agreement with COSCO Container

COSCO Europe 2JULY 5, 2012 — Jotun Group member Jotun COSCO Marine Coatings (Qingdao) Co Ltd. has reached an important agreement with China's COSCO Container, the world's fourth largest containership operator.

Jotun will supply its top of the range Hull Performance Solution, including SeaQuantum X200 antifouling paint and a high performance guarantee, to a number of vessels scheduled for drydocking in 2012 and 2013.

The first vessel to be upgraded will be the 10,000 TEU COSCO Europe scheduled for drydocking in September 2012.

COSCO Container's Deputy Managing Director, Mr. Hou Liping, says the agreement is consistent with COSCO Container's comprehensive commitment to sustainable development, part of which involves taking active steps to reduce Green House Gas emissions.

"After extensive review we have concluded that hull performance can play a very significant role in further reducing our fuel cost and Green House Gas emissions," he says. "Jotun's Hull Performance Solutions combines a high performance antifouling paint with a credible method for measuring delivered performance and a cash-back performance guarantee. This has enabled us to embark on an ambitious investment program aimed at improving hull performance across our fleet."

Jotun COSCO Marine Coatings' President and General Manager, Mr. Dong Zhaoming, says the agreement with COSCO Container marks an important milestone in Jotun's efforts to bring its ground breaking Hull Performance Solutions to the global market.

"As a market leader and the first Chinese enterprise to sign the United Nations' Global Compact Initiative, the industry looks towards COSCO on a broad range of issues," he says. "We are very pleased to be working with an owner who both recognizes the importance of hull performance and who is willing to work together with us at the very cutting edge of our industry."

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