Color Line, Aker Yards Sign for Cruise Ship

Color Line AS and Aker Yards signed a letter of intent (LOI) for the order of a second ship, a sister vessel to M/S Color Fantasy, the world's largest cruise ship with car decks delivered from Aker Finnyards the 3rd of December 2004. The contract value is at the same level as for M/S Color Fantasy, approximately EUR 300 million. The agreement is subject to certain conditions, including Color Line and Aker Yards board approval. The contract is anticipated to be made effective within the second quarter of 2005. "We are extremely pleased to continue our strong relationship with Color Line by building this sister vessel to M/S Color Fantasy.” says Yrjö Julin, President of Aker Finnyards. “This LOI was signed as a result of the positive cooperation with the yard when building M/S Color Fantasy. The contract was fulfilled according to our expectations both with regards to cost and timing, said President of Color Line AS, Mr. Trond Kleivdal. The new ship is scheduled to be delivered last quarter of 2007.