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Press Release

TTS to deliver offshore cranes to COSCO in China

TTS will deliver two offshore cranes for the Axis Offshore’s newly contracted Accommodation Vessel from COSCO Shipyard in China.

The contract, worth approx. 50 MNOK, is with COSCO Qidong Offshore co., Ltd shipyard in China, and concerns delivery of two cranes for a semi submersible accommodation vessel. The rig is ordered by Axis Offshore, a joint venture company between J. Lauritzen A/S in Denmark and HitecVision AS in Norway.

Milestone contract
This is the first contract that the TTS Group signs with the COSCO group for offshore cranes. The contract is a result of cooperation between TTS Offshore Handling Equipment AS (OHE) in Norway and TTS Neuenfelder Maschinenfabrik GmbH (NMF) in Germany.

Crane Package
The crane package consists of one 40 ton knuckle boom crane from OHE and one 70 ton lattice boom crane from NMF.

- This contract represents a breakthrough for the TTS Group as the first package sales of offshore cranes from the joint efforts of TTS OHE and TTS NMF, says Johannes D. Neteland, CEO of TTS Group ASA. TTS is aiming to get an even better position in the offshore equipment market, and this contract will be a reference delivery for future projects.

The delivery will take place in the third quarter of 2014. The contract comprises an option which must be exercised by 26 September 2013 for identical scope of supply.


2013-04-26

Please see TTS Group ASA company electronic office

For further information, please contact
Bjorn Andersson,
CEO & President,
TTS Group ASA,
Phone (+47) 911 33 671

Henrik Solberg-Johansen,
CFO TTS Group ASA,
phone (+47) 982 06 438

Miao Reinlund,
Vice President Corporate
TTS Group ASA,
phone (+ 47) 900 65 883

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