TTS Group signs marine package equipment order in China
TTS Group ASA has got a flying start for its newly established 50/50 Chinese joint venture company, TTS-SCM Marine and Offshore Machinery Co., Ltd. The company has today signed agreements with Shanghai Shipyard Co. Ltd, ensuring delivery of various TTS deck equipment for six ships. Total order value is NOK 270 million, the company said in its press release.
The contract includes mainly heavy lift cranes to the ongoing fleet extension program of China Ocean Shipping (Group) Company (COSCO). In addition TTS will deliver hatch covers and winches to COSCO trough another 50/50 joint venture company, TTS Hua Hai. The delivery of the first ship will be in May 2016.
- The order represents a further belief in the strategic model TTS has chosen for the important Chinese market, says Björn Anderson, CEO of TTS Group ASA. - Localization of critical business projects in combination with key account ship type packages ensures the successful roll-out plan for TTS growth strategy, Andersson ads.
The TTS deck equipment delivery are for six 28.000 DWT Multipurpose Heavy Lift Vessels. COSCO already operates eight identically constructed vessels. Each ship is equipped with the proven TTS NMF type DK II, two with SWL 350t and one with 100t lifting capacity.
The order is placed by Shanghai Shipyard Co. Ltd., part of the China State Shipbuilding Corporation (CSSC).
- This contract is a milestone for our new company, as well for the TTS Group, says CEO Björn Anderson. - We have firmly believed that the new company will improve and gain a competitive position in the market. Now we have the first proof for choosing a proper strategy, he says.
