Exceptionally high demand from LNG carrier and offshore markets for Wärtsilä

Wartsila Corporation
  • Stock exchange release
21 June 2006 at 3:01 AM E. Europe Standard Time

Wärtsilä Corporation STOCK EXCHANGE RELEASE 21 June 2006 at 16 pm local time

Demand for Wärtsilä’s ship power solutions for LNG carriers and offshore applications continued to be exceptionally high during May and June.

In the offshore market, Wärtsilä continued to be favoured as the supplier of diesel generating sets for drill ships. During May and June, Wärtsilä received orders from an undisclosed Korean shipyard to supply 24 Wärtsilä 32 diesel generating sets. These diesel generating sets will power four drill ships. The deliveries will take place from 2008 onwards.

In the LNG carrier market, Wärtsilä continued to profit from its pioneering work during the past few years in facilitating an industry change from traditionally-applied steam turbine machinery to alternative propulsion and power generation solutions featuring dual-fuel engines. During May and June, Wärtsilä received orders for 26 LNG carriers installations from three Korean shipyards, predominantly featuring Wärtsilä 50DF dual-fuel engines. These deliveries will take place during 2008 – 2010.

The value of these new orders amounts to approx. EUR 300 million of which approx. EUR 130 million has been recorded in May order book and EUR 170 million will be recorded in June order book.

To date, Wärtsilä engines for totally 49 dual-fuel-electric LNG carriers have been ordered by all together 7 shipyards.

For further information please contact Mrs Eeva Kainulainen, Vice President, Corporate Communications & IR, tel. +358 10 709 5235 or +358 40 568 0591.

www.wartsila.com

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