RIJEKA SHIPYARD SIGNS CONTACT ON CONSTRUCTION OF TWO TANKERS

RIJEKA, March 24 (Hina) - The Rijeka-based shipyard '3. maj' on Friday signed contracts on the construction of two ships for Germany's Erste Buttner Schiffahrtgesellschaft MBH & CO and Carl Buttner Schiffahrtgesellschaft MBH & CO from Bremen, the shipyard reported. The ships to be built are tankers, to be used for the transport of oil products and chemicals, with the carrying capacity of 23,400 tonnes each. The value of these contracts, including a contract on a third optional ship with the same characteristics, is 71 million US dollars. The contracts envisage that the client and the shipyard will co-finance construction works. The contracts represent a success for the Rijeka shipyard because they mark the company's return to the German market and because these are the first ships the client is ordering outside of Germany. '3. maj' shipyard currently has eight booked ships and if the newly- signed contract is realised, the company's full operation would be secured until the end of 2002. (hina) jn rml