TTS Receives Subsea and Specialized Cranes Order

TTS Group ASA has, through its subsidiary TTS Offshore Handling Equipment AS, signed two new contracts for subsea and specialized cranes with a total value of approximately MNOK 60 (USD 10.2 Mln).

The largest contract is with IHC Offshore & Marine B.V. in The Netherlands. It concerns delivery of three 30T subsea cranes for three vessels contracted by Sapura Navegação Marítima s.a., Brazil.

The other contract is with Cameron Sense AS in Norway. It concerns delivery of two specialized cranes for pipe handling.The equipment is part of a package to be installed on rigs to be built at the Chinese yard Shanghai Waigaoqiao Shipbuilding Co. Ltd.

The delivery to Cameron will take part in the second half of 2014, while the delivery to the Brazilian vessels will take place between December 2014 and July 2015.

[mappress]

Press Release, October 30, 2013