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TTS Signs 57 MNOK Crane Contracts in Norway & China

Source: www.gulfoilandgas.com 11/12/2012, Location: Europe

TTS Group ASA has through its subsidiaries signed two contracts with a total value of approximately 57 MNOK in Norway and China. The first contract is through the TTS subsidiary TTS Offshore Handling Equipment AS in Bergen, Norway, and regards a contract worth approx. 40 MNOK. The contract is with Kleven Verft AS in Norway and concerns delivery of an active heave compensated subsea crane on a offshore construction vessel for REM Offshore ASA. Delivery will take place in December 2013.

The second contract is through the TTS subsidiary TTS Marine GmbH in Bremen, Germany, and regards a contract worth approx. 17 MNOK with the Sainty Marine Corporation Ltd. in Nanjing, China. The contracts concerns delivery of cargo cranes on two bulk carriers ordered by a Greek shipowner. TTS Marine GmbH has an option for delivery of cranes for another eight bulk carriers for the same shipowner. Dependent on how many ships are ordered, the total contract series can amount up to approx. 104 MNOK.

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