MARINELINE® & CHEMLINE® COATINGS FOR INDUSTRY

Advanced Polymer Coatings News

NEWBUILD TANKERS FOR A.P. MOLLER-MAERSK TO BE COATED WITH ADVANCED POLYMER COATINGS MARINELINE® AT JIANGNAN SHIPYARD
The 16,400 DWT M/T "Sten Baltic," a newbuild owned by Rederiet Stenersen of Norway, features the MarineLine® coating system on its 14 tanks for high performance chemical service. The ship was recently coated at the Jiangnan Shipyard in Shanghai, China.

SHANGHAI, CHINA – November 1, 2005 — A.P. Moller-Maersk, the world’s largest shipowner, based in Denmark, will soon have a fleet of up to nine (9) tanker ships protected with the innovative MarineLine® coating system from Advanced Polymer Coatings based in Avon, Ohio, USA.

Advanced Polymer Coatings (APC) has signed a contract with the Jiangnan Shipyard in Shanghai China to start January 2006 coating a series of newbuilds for A.P. Moller-Maersk. Initially the contract calls for MarineLine® coating for six (6) 16,400 DWT ships (newbuild hull nos. 2337 to 2342). MarineLine®-coated areas on the ships will cover 14 tanks and 2 slops. Five of these new ships are already in production at the Jiangnan Shipyard. In addition, there is an option in the contract for Advanced Polymer to coat an additional three (3) ships for the shipyard and A.P. Moller-Maersk.

The A.P. Moller-Maersk projects follow MarlineLine® coatings work already in progress at Jiangnan Shipyard. APC recently completed coating 14 tanks on its first assignment for Rederiet Stenersen of Norway, the 16,400 DWT M/T "Sten Baltic." (see photo above). A second ship, the M/T "Sten Nordic," is nearly finished with a MarineLine® coating on 14 tanks. In total Rederiet Stenersen will be coating four ships, with an option for coating a fifth ship.

"This brings to a total 14 ships (which includes options) which are near completion with MarineLine® coating, in progress, at start-up, and under option at the Jiangnan Shipyard," says Mr. Donald Keehan, Chairman, Advanced Polymer Coatings. "Shipowners are definitely seeing the advantages of having such a versatile, long- lasting and virtually impermeable coating for transporting their chemical cargoes."

Mr. Keehan points out that when the commercial team at A.P. Moller-Maersk conducted a cost benefit analysis using APC’s computerized analysis tool, they found the costs associated with the coating and application were quickly recouped by MarineLine®’s long-term cost savings and added profits, and the ability to carry a wide range of CPP and chemical cargoes including Benzene, MTBE, Palmoils and Vegetable Oils, Phenol, Acrylonitrile, Methanol, and Ethylene Dichloride.

According to Mr. Keehan, "A.P. Moller-Maersk has a fleet of more than more than 250 vessels operating worldwide, carrying CPPs and a variety of other chemicals. Ease of cleaning and fast turnaround in port are important factors for them. The slick, non-stick surface of Marineline® ensures that tank cleaning can be quickly achieved with minimal effort.

"We are starting off on a lovely relationship with the world’s largest shipowner, working with both their commercial and technical people. Once A. P. Moller-Maersk operates MarineLine® -coated ships they will see the advantages of our coating and will convert their other tanker ships MarineLine® as other coatings currently in use eventually fail and need to be replaced," Mr. Keehan adds.