Wärtsilä signs three-year service agreement with Dutch dredging and marine contractor Van Oord

Wärtsilä Corporation, Press release, 13 February 2014 at 1 pm EET

With the signing of a new three-year framework service agreement, Wärtsilä and Van Oord, the Netherlands based contractor for dredging and offshore projects, have entered into an exclusive partnership for all field service and parts supply. The agreement covers preventive and corrective engine maintenance on Van Oord's fleet of dredging and other vessels. The contract has a total value of EUR 30 - 40 million over three years. The contract was signed on 13 February 2014 in Rotterdam.

The framework agreement will enable both parties to plan the required service work well in advance, thereby ensuring minimal vessel downtime and the effective use of human resources. Van Oord will also benefit from the latest Wärtsilä technological developments on the ships' engines, including upgrades that offer reduced consumption of fuel and lubrication oil.

Wärtsilä will allocate a dedicated, permanent, team to support the Van Oord vessels included in the agreement. The team will co-ordinate activities on a worldwide basis, focusing on value creation, energy efficiency and a sustainable supply chain.

"The crucial benefit of this agreement is that it enables greater efficiency with regard to maintenance. The aim is to enhance the technical performance of our engines and optimise overhaul processes, which together will result in lower energy consumption and a cut in emissions. The reduction of CO2 and SOx is of vital importance, and Van Oord is committed to delivering a valuable contribution to that goal. The agreement reflects the new Van Oord strategy in which we want to be sustainable and an economical fleet manager," says Jaap de Jong, Director, Ship Management at Van Oord.

"Wärtsilä works hard in helping its customers maintain long-term certainty of operations, something that is essential in today's marine sector economic climate. With the most comprehensive global service network in the industry and worldwide logistics for spare parts supply, we are uniquely positioned to work in partnership with our customers to ensure lifecycle optimisation of their vessels' operations," says Peter Bos, General Manager, Sales, Wärtsilä Netherlands.

Ship owners are increasingly opting for tailored service and maintenance agreements. During recent years, Wärtsilä has signed many such agreements, collaborating with ship owners to develop agreements that are uniquely adapted for each vessel.

Wärtsilä Services
Wärtsilä provides support for its customers throughout the lifecycle of their installations by optimising efficiency and performance, regardless of the equipment make. The company's service solutions range from basic support, installation and commissioning, performance optimisation, upgrades, conversions and environmental solutions, to service projects and agreements focusing on overall equipment performance and asset management.
Wärtsilä delivers its services through a network of more than 160 service stations, workshops and ship repair centres in nearly 70 countries worldwide.

Van Oord Dredging and Marine Contractors BV

Van Oord is a leading international contractor specialising in dredging, marine engineering and offshore projects (oil, gas and wind). The company has been an innovative partner to its clients in helping to create the infrastructure for the world of tomorrow for over one hundred years.

For further information, please contact:

Peter Bos
General Manager, Sales
Wärtsilä Netherlands
Tel. +31 6 1380 2606
peter.bos@wartsila.com

Tuula Franck
Senior Manager, Media & Stakeholder Relations
Wärtsilä Corporation
Tel: +358 400 267 555
Tuula.franck@wartsila.com

Wärtsilä in brief:
Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximizes the environmental and economic performance of the vessels and power plants of its customers. In 2013, Wärtsilä's net sales totalled EUR 4.7 billion with approximately 18,700 employees. The company has operations in more than 200 locations in nearly 70 countries around the world. Wärtsilä is listed on the NASDAQ OMX Helsinki, Finland.
www.wartsila.com
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