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Marine Log

MM 49 PE LNG FUELED FERRY

October 29, 2007

Aker Yards to build LNG-fueled ferries at French yard

Aker Yards has signed a contract with Norway's Tide Sjo AS for three LNG-fueled ferries dedicated to operate the link between Oslo and the peninsula of Nesodden.

The ferries will be built in France at Aker Yards, Lorient. The total contract price is approximately EUR 45 million.

Construction will start in March next year and all three ferries are scheduled to be delivered in the first half of 2009 and to start operating in July 2009.

The ferries will each have a capacity of 600 passengers and will be using environmental friendly LNG propulsion, a technology where Aker Yards has a strong track record. Recently, five LNG-fuelled ferries were delivered for operation on the west coast of Norway.

The vessels have been designed by Multi Maritime in Forde, Norway in close cooperation with the owner and the owner's client.

The MM 49 PE Design vessels will have a length of 49.9 meter, breadth of 12.2 meter and speed of 12 knots

Aker Yards, Lorient has already built eight ferries for Swedish, Greek and French operators. These will be the first ferries using LNG technology for the yard.

"Joining the Aker Yards Group has opened a lot of opportunities for this yard, in terms of market and know-how. We want to strengthen our presence on this specific market where the demand is high", comments Arnaud Le Joncour, SVP Sales & Marketing of Aker Yards, Cruise & Ferries.

Aker Yards, Lorient is currently completing a ropax vessel designed to serve the island of Groix in Brittany.

"This is an important order for Aker Yards on the very active coastal ferries market where we are gaining position," explains Juha Heikinheimo, President of Aker Yards, Cruise & Ferries. "Aker Yards has a great potential to serve this market with our 18 yards, high competencies and latest innovations. This contract is a good example on how we utilize competence from one part of the group to the benefit of another."

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