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Norsafe Bags Patrol Boats Order

Maritime Activity Reports, Inc.

June 5, 2018

Norsafe announced it has recently secured an order from Papastratos Tobacco Company S.A., an affiliate of Philip Morris International in Greece, for the construction of five high speed patrol boats, which will be donated to the Hellenic Coast Guard.

The donation of the boats is part of the international project PMI Impact, created by Philip Morris International, whose aim is to support public and private bodies in the fight against smuggling and related crimes.

The five units will be manufactured in Greece and are expected to join the Hellenic Coast Guard fleet at the end of 2018.

The orderbook for U.S. dredgers is about $3B, and according to DCA CEO Bill Doyle, the incoming political administration could help this niche maritime sector continue its bull run.
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