NOVEMBER 12, 2012 — Auto Marine Transport, a tonnage provider created with the assistance of Siem Car Carriers, has signed an agreement with Samjin Shipbuilding Industries Korea Co., Ltd. (Samjin) to build a series of vessels for carrying cars and trucks.
The initial agreement involves eight energy efficient pure car and truck carrier (PCTC) vessels capable of carrying 6,700 CEU (car equivalent units) and is made up of two firm orders and options for a further six vessels.
Simon Stevens, Chairman of Siem Car Carriers, said: "We are very pleased to have played a part in helping to establish Auto Marine Transport as the tonnage provider to access the energy-efficient PCTC market. It is the intention to work closely and exclusively with Auto Marine Transport and Samjin to develop and build PCTCs beyond the initial series of eight vessels. Auto Marine Transport is fortunate to have benefited from the combined design expertise of Samjin and Siem Car Carriers. The innovative energy-efficient design which is being developed will result in significant savings to future charterers. In order to grow Siem Car Carrier's own roll-on/roll-off (ro-ro) and car-carrying operations over the next 10 years, we will need access to this type of vessel."
Young II Kang, Chairman of Samjin, said: "We are very fortunate to enter into this agreement for eight vessels and possibly many more PCTC newbuildings with Auto Marine Transport. We believe a very good partnership with Auto Marine Transport and Siem Car Carriers has been created, which should result in the future growth of each company. We will fully cooperate to develop and deliver the most efficient and satisfactory vessels to the buyers."