CSS ACCOMMODATOR LAUNCHED

24-Apr-2013 to 24-Apr-2013

MARINE ASSETS CORPORATION (MAC Offshore) is pleased to announce the successful launching of the CSS OLYMPIA at the Liya Pingtan Shipyard, a yard under the management of Fujian Mawei Shipbuilding in Fujian Province, Peoples Republic of China. The contract was signed in April 2010, and delivery is due in Nov 2013. The launching of the first accommodation variant of the COMPACT SEMI SUB (CSS), marked a significant milestone in seven year history of the design and development of the program. Block assembly was carried out in Liya Ship Yards Dry Dock, meaning the launching was made effective by the flooding of the Dry Dock and floating out of the CSS OLYMPIA The ceremony was attended by MAC and Shipyard senior management, along with guests from supporting banks, and brokers. With additional accompaniment from the vessel’s new owners, Graal Invest of Brazil.During a speech given at the launching ceremony MAC CEO, Mr. Robin Reeves, announced the recent signing for four further CSS Vessels, due for delivery between August 2014 and Oct 2015, The 4 contracts signed with Fujian Mawei, at the shipyard head office on the 14th March 2013, is reported to be the largest single order received by Mawei in their 150 years history. The total contract value was not disclosed, but Mr. Reeves advised the market value of these 4 vessels on delivery would be in the region of $500m USD. MAC is a private shareholding company with offices in Dubai and Singapore. MAC focus’s its efforts and expertise on OSV new build projects and currently have over 20 new build vessels under their management and control.

CSS ACCOMMODATOR LAUNCHED