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Press Release MacGregor

World's first subsea mining vessel to be equipped with MacGregor subsea cranes

4/21/2015

CARGOTEC CORPORATION, PRESS RELEASE 21 APRIL 2015 AT 1 PM (EEST)

MacGregor, part of Cargotec, has been awarded a contract by Fujian Mawei Shipbuilding Limited for two subsea knuckle boom cranes to be installed on the world's first seabed mining vessel.  Delivery of the cranes is scheduled for Q1/2017. The order was booked into first quarter 2015 order intake.

The 227m production support vessel has a beam of 40m. It has been designed by Singapore's SeaTech Solutions for Dubai-based owner Marine Assets Corporation (MAC). Following delivery at the end of 2017, it will operate under long-term charter to Canadian seafloor exploration company Nautilus Minerals Inc.

The MacGregor order consists of two knuckle boom cranes; a 200t active heave-compensation (AHC) subsea crane with the capability to operate to a depth of 2,500m, and a smaller 100t subsea crane.

Mike Johnston, CEO of Nautilus Minerals, says, "We are very pleased to have such a world class supplier providing key equipment for use on our Production Support Vessel. The cranes are an essential component in ensuring operations can be performed safely across all of our large working deck areas. We look forward to reporting on the progress of this equipment as we move closer to production in 2018."

"We are delighted that we have been chosen to supply the cranes for this exciting and prestigious new vessel," says Tom Svennevig, Vice President, Offshore Load Handling, MacGregor. "The demands of offshore operations are constantly changing. At MacGregor, we work hard to understand our customers' requirements and to ensure that we are always ahead of the competition in our ability to offer exactly the right hardware for the job, supported by our global service infrastructure."

Further information for the press:
Tom Svennevig, Vice President, Offshore Load Handling, MacGregor, tel. +47 90945 330
tom.svennevig@macgregor.com
Heli Malkavaara, Communications Manager, MacGregor, tel. +358 20 777 4500, heli.malkavaara@macgregor.com

Further information for investors:
Paula Liimatta, Director, Investor Relations, tel. +358 20 777 4084

MacGregor offers world leading engineering solutions and services for handling marine cargoes and offshore loads. The scope of our integrated packages is growing and now also includes Hatlapa, Porsgrunn, Pusnes and Triplex products.

MacGregor serves the offshore, maritime transportation and naval logistics markets in ports and terminals as well as on board ships and rigs. MacGregor solutions combine load and cargo access, stowage, care and handling functions to optimise lifetime profitability, productivity and environmental sustainability. www.macgregor.com    

MacGregor is part of Cargotec. Cargotec's sales totalled approximately EUR 3.4 billion in 2014 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki Ltd under symbol CGCBV. www.cargotec.com    

 

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