Press release

Viking Supply Ships and Sakhalin Energy start cooperation

In November 2011, Rederi AB TransAtlantic announced that its business area Viking Supply Ships had agreed to enter into a contract with Sakhalin Energy Investment Company Ltd. (“Sakhalin Energy”) for a period of 2.5 years with additional option(s) to extend the contract by 4x3 months for the vessel Vidar Viking. The agreement with Sakhalin Energy was conditional upon approval from the relevant financing banks as well as approval from the Board of Directors in Rederi AB TransAtlantic. This is now all in order.

Vidar Viking will perform icebreaking, supply and anchor handling services with start-up in the summer of 2012. The total gross value of the contract is approximately USD 70 million and the vessel will during six months initially sail under Swedish flag and thereafter under dual Cypriotic/Russian flag with Russian crew.

- This contract is an important step for our company, says Christian W. Berg CEO in Viking Supply Ships. There is a great potential demand for ice-strengthened OSVs* and icebreaking vessels in the Russian regions which coincides well with our fleet and business strategy.

For further information, please contact CCO Viking Supply Ships, Tord Ytterdahl, ph +47 91 36 96 57.

* Offshore Supply Vessels

Rederi AB TransAtlantic is a leading Swedish shipping company with headquarters in Gothenburg, Sweden and additional offices in Europe. The company is organized into two business areas: Industrial Shipping and Viking Supply Ships. The fleet consists of 62 vessels and the company has about 850 employees. The turnover in 2011 was MSEK 2,989. The Industrial Shipping business area consists of five divisions: Bulk, Container, RoRo Baltic, Short Sea Bulk and Integrated Logistics. The company’s B-shares are listed on the NASDAQ OMX Stockholm, Small Cap segment.  

TransAtlantic is obliged to make this information public according to the Financial Markets Act and/or the Financial Instruments Trading Act (Sw: lagen om värdepappersmarknaden and lagen om handel med finansiella instrument). The information was submitted for publication on April 30, 2012 at 01.00 pm.


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