May 6, 2005

Wartsila signs first global customer agreement

Wartsila has signed its first global customer agreement for ocean going vessels.

The agreement, between Wartsila Deutschland GmbH and Reederei Blue Star GmbH, Hamburg, Germany, covers a substantial part of the maintenance and operation support of a number of ships in the Blue Star fleet.

Wartsila will provide regular inspections, all maintenance planning and work, all spare parts, along with operation support and regular reporting for the main engines, generating sets and all relevant ancillary systems in the ships' engine rooms.

Wartsila is also responsible for contract management and global coordination of these activities. Wartsila will apply modern remote monitoring technologies and condition-based maintenance principles to secure reliability and achieve long-term savings.

Initially, the agreement covers a series of nine 2,550 TEU Blue Star container vessels. Delivered from Korea in 2003-2004, the vessels are each powered by a seven-cylinder Sulzer RTA72U-B main engine of 21.5 MW output, and four diesel generating sets with a combined output of 6.5 MW. The initial ships' machinery covered by this agreement has an aggregate power of 252 MW.

The agreement is valid for a period of five years, with options to extend it for two additional five-year periods. As it is a frame agreement, more vessels can be added at a later date.

Wartsila's global customer agreements are specially designed to fit the specific requirements of vessels that are trading globally in a liner service. The services are provided at fixed agreement fees, which offers additional customer benefits, such as operation cost predictability and additional performance guarantees. It draws upon the extensive global resources of Wartsila, its service specialists and the reconditioning expertise in the Ciserv group, as well as the wide experience of Wartsila in long-term service agreements. Based on customer requirements, such agreements are not restricted to Wartsila and Sulzer engines, or other Wartsila products.

Reederei Blue Star, founded in 2002, currently owns and manages a fleet of 25 modern containerships with a further nine on order. It is a fully-owned subsidiary of P&O Nedlloyd BV, and its container vessels are time-chartered to P&O Nedlloyd.

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