TTS Group Bags New Contracts in South Korea

TTS Group ASA has, through its subsidiary TTS Marine AB in Gothenburg, signed two new contracts in South Korea with a total value of approx. NOK 150 million(approx $25.6 Mln).

One of the contracts is with Hyundai Samho Heavy Industries Co., Ltd shipyard and the other is with Hyundai Mipo Dockyards Co., Ltd. Both contracts concern delivery of technology and equipment to a total of six Post-Panamax car carriers to be built over the next two years.

Being selected by the major players as technology and equipment supplier, has secured TTS’ a strong position within the emerging Post-Panamax PCTC market.

The TTS car deck design, stern ramps and technological solutions greatly increase the efficiency of the next generation of car carriers. The available deck area is expanded by 5–10 per cent, and the ships are built lower than before and thus are more efficient to run.

The equipment deliveries will be completed within 2014.

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Press Release, May 2, 2013