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February 1, 2002

Rowan "bolts on" manufacturing capabilities
Rowan Companies, Inc. said today that its wholly-owned Rowan Electric, Inc.unit had completed the purchase of certain assets of Oilfield-Electric-Marine, Inc. and Industrial Logic Systems, Inc., for a price of approximately $8 million in Rowan common stock.

Oilfield-Electric-Marine manufactures variable speed AC motors and variable frequency drive systems, DC motors and drive systems, and consoles for marine boats and lay barges, the oil and gas drilling industry, and the mining and dredging industries. Oilfield-Electric-Marine also manufactures medium voltage switchgear from 5KV through 38KV for the industrial and petrochemical markets.

Rowan chairman and CEO Bob Palmer called the acquisition a "bolt-on" addition to the company's manufacturing capabilities that would "increase the profitability of our manufacturing division, broaden our customer base, and expand our product line."

Palmer said that Kevin R. Williams, president of Oilfield-Electric-Marine, Inc., would continue his involvement with product design, development and marketing as President of Rowan Electric, Inc. dba Oilfield-Electric-Marine.

More vessel calls at U.S. ports
The Maritime Administration (MARAD) has released a new annual publication, entitled Vessel Calls at U.S. Ports - 2000.

The report brings together data on vessel capacity and the number of vessels calling at major U.S. ports, by major vessel type, size and age.

The report highlights, for example, that 48 percent of the active world fleet called at a U.S. port during 2000, and that the top 20 U.S. ports accounted for 77 percent of the overall vessel capacity calling at U.S. ports. (The top 5 accounted for 49 percent.) .

Overall, the average size of vessels calling at U.S. ports was 14 percent larger than the world fleet average.

For the period 1998 to 2000, calls at U.S. ports by vehicle carriers increased by 46 percent, reflecting both an increase in U.S. vehicle imports and higher call frequencies.

Containership calls at U.S. ports increased by 6 percent from 1998 to 2000, but containership capacity calling at U.S. ports increased by 12 percent, reflecting an increase in average vessel size.

For copies of the report go to http://www.marad.dot.gov, under Publications & Statistics, follow link to Port Statistics.

HAL set to take back Patriot?
It looks like Carnival Corporation will reabsorb the Patriot into its Holland America operation.

The former Nieuw Amstderdam was reflagged and transferred to American Classic Voyages to jump start its "United States Line" operation in Hawaii, pending construction of the Project America ships at Ingalls. When AMCV went belly up, Carnival got the problem of what to do with a U.S.-flag cruise ship.

Now the Maritime Administration (MARAD) has given approval to Ocean Ship Company, Chicago, IL to sell and transfer the 33,930-deadweight-ton passenger vessel to Bahamian or Netherlands Antilles registry and flag. The proposed purchaser is Hal Antillen N.V.

The vessel was built in 1983 in Nazaire, France.

MARAD's approval is required under section 9 of the Shipping Act, 1916, as amended.

Coast Guard names Director of Intelligence
The United States Coast Guard has named Frances Fragos-Townsend its Director of Intelligence.  In this position, Ms. Fragos-Townsend leads the service’s Intelligence Directorate, the Intelligence Coordination Center and acts as Program Manager for the Coast Guard’s national intelligence effort.  She is charged with enhancing inter-agency and maritime awareness in the war on terrorism.

“The Coast Guard is widely respected by our intelligence, military and law enforcement partners for our multi-mission maritime capabilities,” said Fragos-Townsend.  “Those partnerships and robust information sharing between agencies are key to our long term homeland security mission.”

According to Fragos-Townsend, one of her first goals is to work with Coast Guard leadership and Area Commanders to establish intelligence priorities that will serve to enhance maritime operations.

Before joining the Coast Guard, Fragos-Townsend spent thirteen years with the Department of Justice.  Most recently, she served as the Counsel for Intelligence Policy reporting directly to the Attorney General.  In that role, Fragos-Townsend was responsible for national security matters and facilitating the U.S. government’s activities pursuant to the Foreign Intelligence Surveillance Act.

“Having a person with Ms. Fragos-Townsend’s qualifications join the Coast Guard is an asset to the service and the U.S. Department of Transportation,” said Vice Admiral Timothy W. Josiah, U.S. Coast Guard Chief of Staff.  “Her knowledge and experience are crucial in strengthening relationships within the intelligence community to combat terrorism, drug trafficking, and migrant interdiction.” 

Fragos-Townsend holds a law degree from the University of San Diego School of Law, and a Bachelor’s of Arts in Political Science and Bachelors of Science in Psychology from American University.  She also attended Harvard University’s Kennedy School of Government and the University of San Diego’s Institute on International and Comparative Law in London, England.