Kvaerner Masa-Yards Signs $300 million Cruise Ferry Deal

Kvaerner Masa-Yards, the Finnish shipbuilder, has signed a contract with Color Line AS, the largest ferry operator in Norway, for the construction of a 74,600-gt cruise ferry. The 2,800-passenger cruise ferry, the largest in the world, is valued at approximately $329 million. The vessel will be built at Kvaerner Masa-Yards Turku shipyard for delivery in December 2004. The contract immediately affects the workload at the yard's design departments and, from late spring 2003, also the production departments.

Intended to start sailing between Kiel and Oslo for the Christmas season 2004, this new ship will set new standards in ferry design, confirming Color Line's position as one of the leading European cruise ferry operators.