I will now draw your attention towards this year's winner of the "Ship of the Year" award. In line with the Norwegian shipping traditions the readers of the Nordic shipping magazine Skipsrevyen each year nominate Norwegian newbuildings for the title "Ship of the Year". The award is based on criteria like innovation, competence, building and added value.

This year’s winner lifts Norway to the premier league of international shipbuilding. Therfore, on behalf of the jury, consisting of Mr. Rolf Sæther, Managing Director of Norwegian Shipowners' Association, Mr. Birger Skår, Managing Director of the Norwegian Shipbuilders Sales and Marketing organisation, and Mr. Asle Strønen, Publisher of Skipsrevyen, it is my pleasure to announce that the winner of the "Ship of the Year 2001" award is:

"THE WORLD"

- owned by ResidenSea and built by Fosen Mekaniske Verksteder.

"The World", being the first ship of its kind, represents the continuation of more than 1000 years of Norwegian maritime entrepreneurship. Ever since the days of the vikings, new ship designs and operational concepts have occupied creative Norwegian minds.

It is not a coincidence that the world’s first ocean going luxury resort is the brainchild of Knut Ulstein Kloster jr. Back in the 1960’ his father pioneered the modern cruise industry. Nor is it coincidental that Norwegian investors, coming from the cruise, shipping and hospitality industries backed his idea. It is not surprising that this project was quickly considered to be an extremely exciting and innovative opportunity by the international investment and banking community.

However, no one could really be sure whether this novel idea would become a commercial success or go down in history as a USD 262 million failure. But, the market – the most sophisticated travellers of the world – bought into this idea. They had nothing to compare with – spacious apartments on a huge ship enabling them to travel the world without leaving home.

However, they trusted the reputation of the Norwegian maritime industry and - at present – more than 80 percent of the 110 residences onboard "The World" are sold or reserved, and the contract for bulding a second ship by the Norwegian yard group Fosen Mekaniske Verksteder, has already been signed.

"The World" is not only a ground breaking lifestyle product. With Fosen Mek. Verksteder taking on the enormous challenge of constructing this wessel, Norway is entering into the premier league of shipbuilding – The Cruise Ship Building Nations. This is an important step in order to strengthen our position as a leading shipbuilding nation within all segments of highly complex and sophisticated specialised tonnage.

"The World" is the yard’s newbuilding no. 71 since 1966. The hull has been built at Fosen’s own yard in Sweden, The Bruces Shipyard, and is presently in a very hectic period of outfitting at the Fosen Yard in Rissa, Norway.

Throughout the nineties, the Fosen Yard has delivered 30 ships to Norway, Polen, Marocco, The Faroe Islands, Sweden, Finland, Germany, Turkey and China. In addition they have delivered six state of the art Cruise Ferries for Greece and Tunis. The yard has specialised in Ro-Ro and Ro-Pax, and has now taken the step into the building of Cruise-ships as well.

Under the firm and female leadership of owner and General Manager Mrs. Anna Synnøve Bye, the Fosen Yard has become a shipyard with international reputation, and is well known for its high quality and right-on-time- deliveries.

I would like Ms Anna Synnøve Bye - the owner of Fosen Mek. Verksteder, Mr. Ola S. Harsheim - captain of "The World", and Mr Henning Øglænd - Chairman of the Board of ResidenSea Ltd. to step forward and receive the awards.