Viking Supply Ships and Sakhalin Energy start cooperation

Company News - May 3, 2012

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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 Ltdfor a period of 2.5 years with additional option(s) to extend the contract by 4 x 3 months for the vessel Vidar Viking.

The agreement with Sakhalin Energy was conditional on approval from the relevant financing banks as well as approval from the Board of Directors if RederiTransAtlantic.

These approvals have now been received.

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 US$70 million.

"This contract is an important step for our company," said Christian W Berg, CEO atViking 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."

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