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January 28, 2005

Hyundai Heavy Industries Shipyard started cutting metal for new tankers of the Primorsk Shipping Corporation

On January 27, 2005 Hyundai Heavy Industries Shipyard (Ulsan, South Korea) held a Ceremony of cutting metal for three new Aframax tankers. These tankers will be used for transportation of oil of Sakhalin-I Project in accordance with tender of Exxon Neftegas Ltd (Project Operator) won by PRISCO. All three tankers of 100,000 tons dwt. each will be built in South Korea. Large tonnage PRISCO vessels are designed for the whole-year use in difficult navigation conditions of the Russian Far East. Therefore they will have 1A ice class according to DNV classification and meet international requirements to transportation of cargoes in northern conditions. Tankers will be built in accordance with Hyundai Heavy Industries Project where wishes of both Shipowner PRISCO and Charterer Exxon Neftegas Ltd are taken into consideration. As earlier built large tonnage PRISCO vessels new tankers will be equipped with up-to-date devices providing high speed of cargo handling such as bow loading device which allows to take hydrocarbon raw materials from remote marine terminals. To provide environmental safety the Aframaxes will be supplied with Monitoring System of ice pressure to ship’s hull and with additional scanning equipment to control ice thickness. New tankers will have variable-pitch propellers that allow with use of main engine to keep distance from the single berth during loading in De-Kastri more safely. Highly professional crews of the Primorsk Shipping Corporation with great experience of navigation in northern conditions will work on these tankers. Three newbuildings are planned to be put into operation in the end of 2005, with an interval of one month from acceptance of the first tanker up to the last, first tanker is planned to be delivered in October 2005. Specialists of Shipowner PRISCO and Charterer Exxon Neftegas Ltd. will control the building process. Names, which will be given to new tankers at Christening Ceremonies, are already known. PRISCO Board of Directors and Management Board have decided to name the vessels after its well-known people: “Kapitan Kostichev”, “Victor Titov” and “Pavel Chernysh”. Valentin Kostichev, Victor Titov and Pavel Chernysh have become a good example for many generations of PRISCO seafarers for their attitude to work, devotion to profession and personal characteristics.




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