CONTAINERSHIP
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What will be the size of the largest containerships ordered by the end of this year?

10,000 TEU
12,000 TEU
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70,000 dwt DAT

August 16, 2005

Admiralty Shipyards to build Arctic shuttle tankers

Aker Arctic Technology Inc of Finland and the St. Petersburg, Russia, based FSUE Admiralty shipyards have signed a contract for a license and design including classification package of two 70,000 dwt double-acting Arctic shuttle tankers, which the yard is building for ZAO Sevmorneftegaz for the Prirazlomnoye oil field in the Arctic Ocean. The ships are the largest tankers so far built by the yard and will be delivered towards the end of 2007 and respectively 2008.

The tankers are capable of world-wide operations, but they are specifically intended to operate independently between the offshore oil production platform and a transhipment terminal in Murmansk area.

The tankers will fly the Russian flag and will be built to Russian regulations, including ice class LU6.

They will be fitted with twin pod drives, dynamic positioning system, a helideck and a bow loading facility for the Arctic conditions.

"This demanding tanker contract based on the novel Aker Arctic design was achieved as a result of an international tender competition and it further enhances Admiralty shipyard's position as a leading tanker builder in Russia and Europe," says L.V. Alexandrov, General Director of Admiralty shipyards.

"The Admiralty shipyard contract for Sevmorneftegaz, a subsidiary of Rosneft and Gazprom, is a breakthrough for our double acting concept in Arctic oil transports and a result of our long term cooperation efforts in Russia," comments Mikko Niini, Managing Director of Aker Arctic Technology of Finland, a member in the Aker Yards group.

"This new concept has lowered the transport costs in harsh environments and we believe this example will be thoroughly monitored by the whole oil industry. With our design capabilities and license cooperation policy several new cases are to be expected both for Russian and Canadian developments and not only for oil but for LNG transports as well."

The tankers will have an overall length of 260 meters, breadth of 34 meters and draft of 13.6 meters. The diesel-electric power plant consists of four main diesels providing 25 MW total power. The propulsion is arranged by twin pod drives, each 8.5 MW

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