Aker Yards will today enter into a contract with the Stolt-Nielsen Transportation Group in Rotterdam (Netherlands) to deliver four innovative parcel tankers with stainless steel cargo tanks. The contract represents an important strategic move to Aker Yards in repositioning the business area Merchant Vessels towards more specialized vessels. The value of the contract is approximately USD 350 million. Delivery is scheduled between the third quarter of 2008 and the fourth quarter of 2009 from Aker Yards in Florø, the new contract follows the order of two parcel tankers of the same type by Stolt-Nielsen in 2005 to be delivered in 2007 and 2008.

The production of the ships will be split between Aker Yards, Florø and the Damen Shipyards Okean in the Ukraine. The fore and aft sections of the ship will be built in the Ukraine. The midship section will be built at the same time in Florø. The fore section of the ship will be welded to the aft section, and then towed as a "small" ship to Florø. When the fore and aft section arrives in Florø, it will be separated in the dry dock and then joined with the mid-section. The specialized tankers are 182.72 meters long and 32.2 meters wide. All vessels are of the type Aker TCOPss 43000. They have a deadweight of 43,000 t. The total cargo capacity is 45,350 cubic metres. With a main engine (2-stroke Diesel engine) output of 11,060 kW they reach a service speed of 15.0 knots. They will have optimized stainless steel tanks to fit with the owner's operational requirements and new hull lines with less resistance for lower fuel consumption. All stainless steel tanks are located in the midship area which reduces the weight of stainless steel considerably. SNTG and Aker Yards will also sign a Letter of Intent regarding future cooperation, emphasizing research, design and development that capitalize on the unique strengths of the two companies.

Otto H. Fritzner, Chief Executive Officer of SNTG, said, "After a global review of ship yards, we are pleased to have reached these important agreements with Aker Yards. Today's announcements represent not only a significant element of SNTG's ongoing fleet replacement plan and growth strategy, but also a step toward what we hope will be a long-term relationship with Aker focused on mutually beneficial cooperation and development. Continued advancements in ship technologies, particularly those aimed at enhancing safety, reliability and environmental friendliness at a competitive price will be a priority of these cooperative efforts between Aker and SNTG."

"We are very pleased and proud to win this contract of a further four newbuildings for SNTG. This new order, in addition to the two ships of the same class from the order placed last year, is a great endorsement from SNTG of the world-class competencies and the project execution experience of the people of Aker Yards. The contract provides us with the opportunity to deliver innovation to a leading provider of safe transportation of highly demanding chemicals. It also confirms Aker Yards strategy with the acquisition of Kleven Florø, Kleven Design and the stake in Damen Shipyards Okean, in order to establish a strong position in the market for specialized tankers ", says Karl Erik Kjelstad, President & CEO of Aker Yards.

Aker Yards, Florø has been part of the Aker Yards group since August 2006. The yard in Ukraine has been part of the Aker Yards group since August 2006 as a joint venture company with the Damen Shipyard Group.