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Jan 26, 2002

New contract with Smit International

Maritime Partner AS in Ålesund, Norway has yet again, secured a major contract for delivery in 2002. The contract for a series of MP-1211 Fast Patrol Craft is valued at NOK 25 million (approx. USD 3 million), and was signed in London with Smit International (Scotland) Ltd. of Aberdeen.

Smit intends using the craft on a new, long-term contract awarded by the UK’s Ministry of Defence to conduct patrol and range safety tasks at a number of live firing areas on the south coast of England. The vessels will be funded by way of a structured lease with Lombard Corporate Finance, a member of the Royal Bank of Scotland Group plc.

The craft is a further development of the MP-1111 FRDC Daughter Craft that has been used in the offshore industry since 1996. Maritime Partner has delivered three MP-1211 to the Norwegian Rescue Association in 2001 and the craft has been very well received. Each craft has double engine installations with waterjet, which gives it a top speed of 35 knots.

“We have been involved with this project for more than a year, so it feels very good to finally succeed, says Peder Myklebust, Managing Director of Maritime Partner. “There was competition for the contract from local manufacturers in the UK as well as elsewhere, and that we have been chosen proves that our craft is very competitive in the international market. The investment we have made in research and development has given us very good products. It is no coincidence that we have again won work with our designs in the military sector which serves to prove that long-term concentration on a specific sector does pay off”.

Maritime Partner expects an active offshore market for at least the next 1-2 years. At the same time the market for larger craft up to 25 metres in other segments is also opening up. “This offer very interesting possibilities for the future, and at the same time makes us humble, given the challenges that lie ahead. However, we are certain that the good relationships we have with our sub-contractors will make Maritime Partner able to deliver to customers’ expectations.

Maritime Partner is a company based in Ålesund, Norway that is involved in the development, sales and service of fast rescue- and patrol craft ranging in size from 5 to 25 metres. Since the start more than 800 craft is delivered worldwide.