TRANSATLANTIC: TRANSATLANTIC SIGNS LONG-TERM CONTRACT FOR OFFSHORE VESSEL

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Transatlantic has signed a long-term contract with the Italian oil company ENI concerning one of its offshore vessels, Odin Viking. The assignment will extend until the end of 2007, with the possibility of further extension, and comprises the transfer of oil rigs from the Gulf of Mexico to Brazil.

"This is extremely positive and entirely in line with our strategy of finding long-term contracts to supplement the fleet's normal assignments in the North Sea spot market. For the remainder of the year, we now have two vessels on long-term contract at good freight rates and two vessels on the spot market," says Håkan Larsson, President of Transatlantic.

During May, the offshore vessel Tor Viking will commence a long-term contract for Shell in Alaska.



For further information, contact President Håkan Larsson or
Head of the Offshore/Icebreaking business area Stefan Eliasson, tel +46 (0)304 - 67 47 00

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