Yantai Raffles Shipyard announces yet another new order
Chairman was confident yesterday...now we know why!

Following hard on the heels of their announcement of winning an order for a new oil platform, Yantai Raffles Shipyard announced today that it has received a contract from Saipem (43% owned by Eni), for the design and construction of an Iced Strengthened Pipe Lay Vessel of DP3 class.

The 290m long vessel, with a molded breadth of 39 m, will be built under the American Bureau of Shipping
classification.

The purpose-built DP pipelay and subsea construction vessel lays pipelines and supports developments in deep waters. With a main deck height of 24 m, it has an
operating draught ranging from 7 to 10 m.

The 43,000 ton vessel, complete with S-Lay Pipe System with the future option of installing a J-Lay System, will be equipped with a 600 metric ton Mast Crane and two 55 ton pipe handling gantry cranes. It will have superior standard accommodation facilities for a total of 538 persons.

The vessel is expected for delivery in early 2010. Upon completion, the vessel will be fit to operate worldwide, including the North Sea, Baltic Sea, Barents Sea, South
Atlantic, West African Coast, Gulf of Mexico and Pacific North of Australia.

Mr Brian Chang, Chairman of YRS said, “We are delighted to be chosen by Saipem to design and build this highly sophisticated vessel as this award marks another milestone achievement for the group in the area of offshore projects. We thank the owners for their trust and confidence in us.”