Tanker loading contract

has been awarded a contract with

in South Korea for delivery of bow loading systems for three new shuttle tankers able to operate in arctic conditions.

Another contract for delivery of two additional systems has also recently been signed with a Norwegian shipowner. The total contract value for the two contracts is approximately NOK 50 million. The equipment will be delivered from Aker Kvaerner's business unit Aker Kvaerner Pusnes in Arendal, Norway.

The contract with Samsung involves supply of bow loading equipment, for offshore loading, for three shuttle tankers to be built at Samsung Heavy Industries for the Russian ship owner Sovcomflot.

Leif Haukom, President of Aker Kvaerner Pusnes, commented: "The award of the contract with Samsung confirms the growing need for this new type of inboard bow loading system as more oil and gas fields are developed in arctic areas. This type of equipment was first delivered in 2005 to Hyundai Heavy Industries' five shuttle tankers for ExxonMobil's Sakhalin project in northeastern Russia".

In contrast to the more traditional bow loading systems, this alternative system involves offshore loading where the 20" hose connection point is located well within the deck area of the shuttle tanker. Traditional shuttle tankers have an external connection point, coupler, protruding from the bow of the shuttle tanker during loading. A dedicated mooring system is included as part of the total equipment package for securing the shuttle tanker to the offloading facility.

The second contract with a Norwegian shipowner involves two traditional Pusnes bow-loading systems to be installed on shuttle tankers that will be operating off the coast of Brazil. Aker Kvaerner Pusnes has delivered more than 70 of such systems globally.

Integrated safety features play a high role in equipment of this type. These features include; fail-safe brakes, interlock systems, stored energy system, load monitoring, intelligent sensors, and emergency release system to allow quick disconnect.

While the design and technology is developed by Aker Kvaerner Pusnes, all the equipment will be manufactured by subcontractors in Europe and South Korea. Delivery for the three shuttle tankers for Samsung will take place