TransAtlantic signs contract with Shell for one of its Arctic offshore vessels

(Thomson Reuters ONE) - TransAtlantic has signed a contract with the US oil company Shell for one of itsAHTS/Icebreaking vessels, Tor Viking. The contract has duration of two yearscommencing in 2010 and with the option of a further year. The contract willbegin to apply from May 2010.Tor Viking will be chartered for Arctic offshore work in the ocean off Alaskaand will be included in the operations being built up there by Shell OffshoreInc."This is extremely positive and confirms our position as a leading shippingcompany within Arctic offshore. Tor Viking already worked for Shell in Alaska in2007 and we are pleased about the renewed confidence shown in us. The contractwill also provide an improved balance in earnings for the Offshore/Icebreakingbusiness area," says CEO Stefan Eliasson in a commentary.The contract includes a clause giving Shell the right to terminate the contractif the company does not secure all permits required for exploration.  In theevent of termination of the contract,  TransAtlantic will receive a certainamount of financial compensation.Through its business area, TransAtlantic offers an integrated offshore service -Ice Management - which is a system to ensure that operations can be implementedin a more efficient, safe and environmentally friendly manner with minimumimpact by ice.For further information, please contact CEO Stefan Eliasson, +46 (0)304 -67 47 00[HUG#1382054] Press release (PDF): http://hugin.info/135816/R/1382054/341066.pdf

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Datum: 09.02.2010 - 09:11 Uhr
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