NOVEMBER 7, 2012 — Bergen, Norway, based TTS Group ASA has, through its subsidiary TTS Ships Equipment AS, signed two contracts regarding sideloading systems and cranes worth approx. NOK 100 million (about $17.5 million).
The first contract is with Star Reefers of London and covers delivery of Sideloading Systems for four reefer ships. The ships are to be upgraded with three sideloading systems each, an installation that handles both pallets and cars. The upgrade increases load capacity and reduces port turnaround. Delivery will take place during the second half of 2013.
The second contract is for a Norwegian shipowner and covers the supply of cranes for two offshore vessels being built at a European shipyard. Each ship will have three cranes installed. Delivery will take place during Q4 of 2013 and Q1 of 2014.