Samsung Tapped To Build Two Suezmax Tankers

New ships to incorporate ABS Safehull design criteria Ceres Hellenic Shipping Enterprises, Ltd.

and Ultramar Canada Inc., a wholly-owned subsidiary of Ultramar Corp., have jointly announced the construction of two doublehulled Suezmax tankers for charter to Ultramar Canada Inc.,with delivery scheduled in the first quarter of 1998.

The vessels will be purpose-built tankers of approximately 150,000 dwt (metric) each, and will be constructed by Samsung Heavy Industries Co., Ltd. at its Koje shipyard. In their joint announcement following the signing of the shipbuilding and commercial agreements in London in early October, Peter G. Livanos, managing director of Ceres Hellenic, said, "Today we have concluded a strategic alliance for the transport of petroleum, using what will be the most advanced and environmentally safe tankers built. We believe that this will set the standard for the marine transportation of oil into the 21st century." The two new double-hulled, ice-strengthened, shallow-draft tankers incorporate numerous improvements in design, structure and operating systems as compared to existing ships in use today. These improvements provide increased safety and environmental protection. The use of more steel exceeding present requirements by of the classification and international trading standards will result in a higher safety margin for prevention of corrosion and fatigue, thereby affording a longer life expectancy.

The adoption of exceptionally high specifications, including the American Bureau of Shipping (ABS) Safehull design criteria, will result in distribution of steel in critical areas, and also in increased safety. The main diesel engine will be upgraded for more power and greater operating safety margins in the North Atlantic trade where harsh weather patterns are anticipated.

The design features will include provisions for ice class "DO" in order to afford efficient and reliable operation at extreme sub-zero centigrade temperatures as well as ice conditions which can exceed 40 cm in. thickness, which are prevalent in the St. Lawrence River and the approaches to Ultramar's St.

Romuald refinery in Quebec.

"This agreement, under which Ultramar is chartering ships with construction standards clearly exceeding current local and international regulations, is yet another example of Ultramar's efforts to use the safest and most efficient means of transportation available," said Curtis V. Anastasio, Ultramar's vice president of Supply and Shipping.

Ceres Hellenic Shipping Enterprises, Ltd., as general managing agents for various shipowning companies, and Ultramar Canada Inc. have been involved in marine transportation contracts and have worked together since 1984.

Ultramar Canada owns and operates a 150,000-barrel-per-day refinery at St. Romuald, Quebec, markets petroleum products through a network of over 1,400 retail outlets and cardlocks, and provides heating oil to over 173,000 households.

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