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Aker to Build AHTS for Maersk

Maritime Activity Reports, Inc.

March 24, 2006

Aker Yards has entered into a contract with AP. Moller - Maersk AS, for the building of eight Anchor Handling Tug Supply Vessels (AHTS). The contract also includes an optional agreement for another two sister vessels. The series of AHTS vessels is of Vik & Sandvik design, VS 472. Deliveries are scheduled for 2008 and 2009, from Aker Yards in Norway. The vessels are of approximately 240 x 65.5 x 30 ft.

Roy Reite, responsible for Offshore & Specialized Vessels in Aker Yards comments: "We are very pleased that AP. Moller - Maersk as a large international shipowner again chose to cooperate with us. This contract is the largest contract signed in the Offhore & Specialized Vessels business area to date, and will give activity well into 2009. It will also create considerable opportunities for numerous of our equipment suppliers and network of subcontractors".

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