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TTS Wins Two Contracts

Maritime Activity Reports, Inc.

March 7, 2005

Sweden’s TTS Ships Equipment AB, Gothenburg, part of Norway’s TTS Marine ASA has landed two contracts for delivery of ships equipment for a total of four car carriers. This confirms TTS’ leading position in the supply of cargo access equipment to the car carrier newbuilding industry.

The contract with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) in Korea (Leif Hoegh A/S) and Croatia’s Uljanik Ship Yard, Pula (Ray Shipping) involves deliveries to two car carriers each. The deliveries include construction and supply of key components to the RoRo access systems including internal car decks and ramps, as well as stern ramps for the loading and discharge of vehicles. The delivery of the equipment is scheduled for the end of 2007.

The deliveries to Daewoo include construction and supply of key components to the RoRo access systems including internal car decks and ramps, as well as stern/quarter and side ramps for the loading and discharge of vehicles. The delivery of the equipment is scheduled for February and May 2007, respectively.

The deliveries to Uljanik include construction and complete supply of the RoRo access systems including internal ramps and doors, as well as stern/quarter and side ramps for the loading and discharge of vehicles. The delivery of the equipment is scheduled for January 2006 and August 2007, respectively.

The DSME contract brings the total of car carriers building at this yard for Norway’s Leif Hoegh to twelve (12), each vessel capable of transporting some 6,000 units. Deliveries begin this year and go through to 2008. Meanwhile, Israel’s Ray Shipping currently has four 4,900 unit capacity car carriers building at Uljanik, this latest option for a further two vessels taken up as the construction work on the first vessels nears completion.

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