December 13, 2004

Aker Brevik to build six products tankers

Aker Brevik, a part of Aker Yards ASA, has signed a contract to build six 18,000 m3 product-tankers with six Cyprus-based single purpose companies. The vessels are to be built at Aker Braila in Romania. The total contract value is around EUR 130 million.

Lars Stärk, Managing Director of Aker Brevik, states in a comment: "This contract is important in order to develop the business of Aker Yards in Romania. The design is developed in Norway, and the vessels will be fully built in Romania."

Stärk continues: "This order represents a strategic breakthrough in Aker Yards effort to capitalize on our significant know-how base in Norway combined with our cost-efficient Romanian production of merchant vessels. By this, Aker Yards demonstrates its competitiveness compared with eg Asian yards in the growing product tanker market".
 
The design has been developed by Brevik Engineering, a subsidiary of Aker Brevik. The 15,000 dwt vessels will be approx. 140 meters long, 22 meters wide,

The vessels will be managed by Marlow Navigation, Cyprus.

Construction of the first vessel starts in spring 2005, for delivery in May 2006. The remaining five vessels are to be delivered every four months thereafter.  "

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