The joint-venture company Arctech Helsinki Shipyard Oy formed last week, 50/50 owned by STX Finland and United Shipbuilding Corporation, has received an order for two new Multifunctional Icebreaking Supply Vessels (MIBSV) from its Russian customer Sovcomflot. The value of the order is USD200 million and the project will start immediately. The new vessels will be delivered from Helsinki shipyard during spring 2013. Arctech Helsinki Shipyard Oy will build the new vessels for Sakhalin-1 Arkutun-Dagi gas field where they will be used as supply vessels for Exxon Neftegas Limited's platform. Both vessels will be similar measuring 99.2 m in length and 21.7 m in breadth. Their four engines have the total power of 18,000 kW and the propulsion power of 13,000 kW.

These vessels are designed for extreme environmental conditions on the Sakhalin area. They will be operating in thick drifting ice in temperatures as cold as minus 35 C˚. The main purpose for these vessels is to supply the gas production platform and to protect it from the ice. The icebreaking capability of the vessels is extremely high, they are able to operate independently in 1.7 meter thick ice.

As multipurpose vessels, these vessels are capable of carrying various type of cargo and they are equipped for oil combating, fire fighting, and rescue operations. The rescue capacity is for 195 persons.

The STX Finland shipyards have a long history of building different kinds of icegoing vessels. Approximately 60 % of the world's operational icebreakers today were built in Finland. Finnish shipyards also have a strong foothold in Russia with 1,500 delivered special vessels including almost all Russia's conventionally powered icebreakers and two Taimyr class nuclear-powered icebreakers.

"This is a significant breakthrough into the currently very active Russian arctic icegoing ship markets. I am especially happy to see that the customer is Sovcomflot. As Sovcomflot already has in their fleet a very similar supply vessel, delivered 2005 by STX Finland, we can only  consider this order as a sign of confidence from their side" says Mr.Juha Heikinheimo, President of STX Finland.

New projects will offer work for 1000 man-years. "There is significant potential for arctic icegoing and ice breaking vessels in Russia for Arctech Helsinki Shipyard Oy, where we hope to be able to utilize our world-class arctic technology experience combined with the Russian shipbuilding and ship operation expertise," continues Mr Heikinheimo.


For additional information, please contact:

Juha Heikinheimo, President, STX Finland Oy, tel. +358 10 670 2201


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Arctech Helsinki Shipyard Oy is a joint-venture company, which is 50/50 owned by STX Finland and United Shipbuilding Corporation. The company, employing approximately 400 persons, will focus on arctic maritime technology and shipbuilding and will unify Russian and Finnish Maritime clusters.

STX Finland Oy has two shipyards in Finland, located in Turku and Rauma. The company belongs to the international STX Europe Group, with a product range including passenger ships as well as merchant and offshore vessels. In all, STX Europe has approximately 16,000 employees. STX Europe's principal shareholder, the international conglomerate STX Business Group of Korea, has production plants representing various industries all over the world and a total of approximately 54,000 employees.

United Shipbuilding Corporation is the state owned Russian shipbuilding corporation, which was formed in 2007. The company has 42 shipyards in Russia and it focuses on developing the Russian civilian and military shipbuilding industry.


This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act)

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