Kongsberg Maritime Signs $1.4M S-VDR Agreements

April 26, 2006

Kongsberg Maritime has been contracted to supply up to 94 S-VDRs to two separate shipping companies under a 'Fleet Agreement' arrangement. The total value of the contracts is close to $1.4m. In addition to supplying the MBB-S, Kongsberg Maritime's S-VDR offering, the 'Fleet Agreements' include the training of shipping company engineers, enabling them to carry out their own installation, therefore saving initial costs. China Shipping has ordered the MBB-S under a Fleet Agreement for 20 vessels, with an option for a further 40, to be formally agreed at a later date. Deliveries and Fleet Agreement training for China Shipping will be carried out through Kongsberg Maritime China. Tehran based IRISIL has ordered the MBB-S for 34 vessels with Fleet Agreement training enabling installation without Kongsberg Maritime involvement. This order will be channeled via Dubai based Kongsberg Maritime agent, Unique System L.L.C, but deliveries will be direct from Kongsberg Maritime in Horten to ISIRIL in the South Iranian port of Bandar Abbas. The MBB-S is the only S-VDR currently available with options for Type Approved fixed or float free capsules. All deliveries to China Shipping and ISIRIL will be of the float free type, which provides the added benefits of 2GB onboard flash memory, GPS receiver and Type Approved EPIRB.

Kongsberg Maritime Signs $1.4M S-VDR Agreements

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