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NORILSK NICKEL SIGNS A CONTRACT FOR NEWBUILDING WITH AKER YARDS
27.8.2004


PRESS RELEASE
August 27, 2004
 
(Moscow - Helsinki) MMC Norilsk Nickel, Russia and Kvaerner Masa-Yards Inc., part of Aker Yards, have signed a newbuilding contract for one 14.500 tdw Arctic Container Vessel for operation in the Northern Sea Route of Russia.
 
"Norilsk Nickel is in the process of improving its transportation logistics to secure ontime and cost efficient transportation of its goods to its customers. In this respect Norilsk Nickel is in need of new cost efficient vessels of modern design and technology. After an international competition by various designs and shipbuilders, Norilsk Nickel is now very happy to conclude this contract with Kvaerner Masa-Yards," says Deputy General Director for Norilsk Nickel, Dimitry Semyonovich Cheskis.
 
"This strategically important project helps us in re-establishing the good and extensive shipbuilding activities Kvaerner Masa-Yards has had in the past with deliveries of tens of newbuildings for Russian owners. This confirms our believe that the Arctic Market is a growing business going forward, and regard this contract to be an important positioning in that respect," says Yrjö Julin, President and CEO, Kvaerner Masa-Yards. "We are therefore happy to see Norilsk Nikel's belief in our design concept and the improved transport economy the design provides with. We are pleased to be able to sign this contract with Norilsk Nikel, one of the leading mineral companies in the world."
 
The newbuilding concept has been developed by Kvaerner Masa-Yards using its arctic technology laboratory and patented Double Acting Ship concept. Several feasibility studies have been made and ice model testings have been performed at the arctic technology laboratory to find out the best economical and technological solution for the vessel.The new Arctic Container Vessel will transport minerals from Dudinka on the river of Yenisey to Murmansk in Russia.
 
The new vessel is a prototype for a series of potentially several vessels which are to replace the current SA-15 type vessels that have been in successful use for the last twenty years. Also these vessels were built in Finland by Wärtsilä and Valmet shipyards in the 1980's.
 
The Arctic Container Vessel will be built at Kvaerner Masa-Yards in Helsinki, from where it will be delivered early 2006 for final ice trials in the intended area of operation. The contract value is close to €70 million.
 
The newbuilding main characteristics are:
Length, over all
appr. 168,6 m
Breadth
23,1 m
Draft, at tdw
9,0 m
Ice breaking capacity
1,5 m
Deadweight
14.500 ton
Number of containers
650 pcs
GT
appr. 16.000
Classification
Russian Maritime Register
 
 
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For more information, please contact:
 
Aker Yards
Tore Langballe, SVP Communications and Investor Relations, +47 24 13 01 30
 
Kvaerner Masa-Yards
Mr Yrjö Julin, President & CEO, tel. +358 10 670 2201
Mr Bo-Erik Blomqvist, EVP, Marketing and Sales, tel. +358 10 670 2231
Ms Minna Staffans, Manager Corp. Communications, tel. +358 10 670 2409
 
Norilsk Nickel
Mr Boris I. Patlakh, Head of Logistics Division, tel. +7 095 787 88 60
 
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MMC Norilsk Nickel Group is the world's largest producer of nickel and palladium and one of the largest producers of platinum. Its market share exceeds 10% of cobalt and 3% of copper production worldwide. Domestically, in Russia, MMC Norilsk Nickel holds close to a 96% market share of nickel, 55% of copper and 95% of cobalt production. Open Joint Stock Company MMC Norilsk Nickel and its subsidiary is the leading producer in Russia and one of the leading producers in the world of base and precious metals. www.nornik.ru
 
Aker Yards is an international shipbuilding group focusing on complex and sophisticated vessels and is Europe's largest and one of the world's five largest shipbuilders.Aker Yards has a strong position in terms of capacity, product range, technology and experience. The Company's product range includes offshore vessels, cruise and ferry vessels, other complex vessels and merchant vessels. The Group has 13 yards in four countries in Europe and in Brazil. Aker Yards had a turnover of NOK 16 bn. in 2003, and has approximately 14.500 employees. www.akeryards.com
 
Kvaerner Masa-Yards Inc. is specialised in designing and building cruise vessels, ferries and technically demanding vessels. Our Customer Service division is providing life cycle services for vessels and Piikkio Works Oy, a separate company under Kvaerner Masa-Yards, manufactures ready-to-install modular cabins and bathrooms. Kvaerner Masa-Yards also offers marine related design and engineering services, at its marine engineering units located in Finland and Canada. In 2003 Kvaerner Masa-Yards Inc. had annual revenues of about €770 million, and an own staff of about 3,600. Kvaerner Masa-Yards Inc. is owned by Aker Yards ASA, which is listed on the Oslo Stock Exchange. www.masa-yards.com

 
   
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