Ocean HeavyLift Adds to Orderbook

Ocean HeavyLift ASA (formerly Awilco Heavy Transport ASA) has now secured firm contract commitments with a gross value of US $29.2 million for its heavylift fleet in 2007. This corresponds to approximately 13% of available vessel days at an estimated average T/C equivalent of US $94,000 per day. Furthermore, OHL has secured firm contracts with a gross value of US $7.9 million for 2008, which corresponds to approximately 3% of available vessel days in 2008 at an estimated average T/C equivalent of US $100,000 per day.

Furthermore, the company has entered into Letter of Intents worth US $27 million for 2008 and 2009. If exercised, OHL estimates an average T/C equivalent in excess of US $100,000 per day. The company sees these LoIs as encouraging, indicating improved market visibility and continued positive pricing environment beyond 2008.

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