TransAtlantic strengthens its position within Arctic offshore and signs long term contract with Sakhalin Energy

TransAtlantic strengthens its position within Arctic offshore and signs
long term contract with Sakhalin Energy

Rederi AB TransAtlantic's wholly owned subsidiary Trans Viking
Icebreaking & Offshore AS (“TVIO”) has agreed to an addendum to the
charter party with the Swedish Maritime Administration (“SMA”) which
gives TVIO an option to end the contract for Vidar Viking, one of the
Company's three Icebreakers/AHTS-vessels, for the upcoming season in
2012 and for the remaining seasons of the contract. SMA has also agreed
to give TVIO the right to cancel the agreement for the option periods
from 2015 and onwards for one of the Icebreaking vessels. At the
release, TVIO will repay the prepaid charter hire for the relevant
season(s).

TVIO has subsequently executed this option and entered into a contract
regarding icebreaking services with the Estonian Maritime Administration
for the season 2012 for Vidar Viking.

Further, TVIO has agreed to enter into a contract with Sakhalin Energy
Investment Company Ltd. (“Sakhalin Energy”) for a period of 2.5 years
with additional option(s) to extend the contract by 4x3 months for Vidar
Viking. The vessel will perform icebreaking, supply and anchor handling
services with start-up in the summer of 2012. The total gross value of
the contract is approximately USD 70 million. The vessel will initially
under six month sail under Swedish flag and thereafter under dual
Cypriotic/Russian flag with Russian crew. The agreement with Sakhalin
Energy is conditional upon approval from the relevant financing banks as
well as approval from the Board of Directors in Rederi AB TransAtlantic.
 

For further information, please contact Christian Berg, CEO, Trans
Viking Offshore A/S +45 (0) 41 77 83 80 or Gunnar Modalen, CFO, +46 (0)
304 67 47 00.
 

Rederi AB TransAtlantic (publ), org.nr. 556161-0113
Box 8809, 402 71 Göteborg
Tel +46 (0) 304 67 47 00
www.rabt.se

Rederi AB TransAtlantic is a leading Swedish shipping company.
Operations are organised into two business areas; Offshore/Icebreaking
and Industrial Shipping. The Industrial Shipping business area consists
of five divisions: RoRo Baltic, Bulk, Short Sea Bulk, Container and
Integrated Logistics. The fleet consists of 63 vessels and one anchor
handling vessels on order scheduled to be delivered 2012. The company
has about 950 employees. The sales for 2010 totalled SEK 3,600 million
pro forma. The company's B-shares are listed on the NASDAQ OMX
Stockholm, Small Cap segment.

TransAtlantic is obliged to make this information public according to
the Financial Markets Act and the Financial Instruments Trading Act (Sw:
lagen om värdepappersmarknaden and lagen om handel med finansiella
instrument). The information was submitted for publication on November
24, 2011 at 8.30 a.m.