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Press Release

FSUE PO Sevmash: Official announcement

FSUE PO Sevmash notify that chemical tankers construction, Project P-668, will carry on.

On the 21st of February Odfjell, the Customer, has announced Contract cancellation due to delay in performance. Claim of a willful misconduct gives rise only to bewilderment. Sevmash strongly rejects such an allegation and in its turn declare that had performed its obligations to construct vessels in good faith and reason.

However, an extremely ill-fated Contract provision of fixed prices for year 2004 and for the whole period of 12 vessel construction has caused funds shortage. Fair price negotiations have given no results.

Thereby FSUE PO Sevmash notify that chemical tankers construction, Project P-668, will carry on. The works on the vessels have not stropped and are going on at the moment. Upon completion the vessels will be put up for sale at the market price that will result in a break even project.


For reference:

In the recent fifteen years the Yard have mastered production of high tech civil vessels: offshore platforms for oil and gas field exploration, civil vessels of various classes and application. From 1990 till 2007 the Yard have constructed more than 100 vessels, i.e. 24 river barges, 10 sea pontoons, 4 minibulkers, 65 tugboats and a fish farm. In August 2007 the Yard delivered a multi purpose semisubmersible platform of design Moss —S-50 for Norwegian company Moss Mosvold Platforms AS, and the second platform is being successfully constructed on the slipway. In November 2004 FSUE PO Sevmash and Norwegian shipping company Odfjell ASA concluded a contract for construction of 8 chemical tankers (with an option of up to 12 vessels). Key laying of the lead vessel was performed on the slipway in December 2005.

Main technical data for chemical tanker pr. –-668:

Х Length overall Ц 182,72 m
Х Width Ц 32,2 m
Х Depth Ц 18,35 m
Х Deadweight Ц 45 000 t


2008-02-26

Please see PO ЂSevmashї JSCo company electronic office

JSC «PO «Sevmash» (incorporated into the JSC “United Shipbuilding Corporation”) is the largest ship-building complex in Russia, the only shipyard of the country, the main task of which is atomic submarines building for Navy. The enterprise, occupying the area of more than 300 hectares, includes in its structure more than 100 subdivisions. More than 25,000 people work on the basic enterprise of Severodvinsk.

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