June 17 2004

VT Halter wins ATB contract

VT Halter Marine Inc. has signed a contract to build two articulated tug barge (ATB) units for Vessel Management Services, a subsidiary of Crowley Maritime Corporation. 

The total cost of the two vessels, including the cost of owner-furnished equipment, is expected to approximate $85 million at delivery.

The contract includes an option to purchase two additional units, which if exercised must occur within one and one and one-half years respectively.

An ATB is built with an articulated pin connection system between the tug and barge that allows movement in the critical areas of fore and aft pitch.

Each unit consists of a 9,280 BHP ocean-going tug and a 180,000-barrel barge. 

The U.S. flagged vessels are 127 ft x 42 ft x 23.5 ftA BS Classed +A1, +AMS, SOLAS, Full Ocean Towing Service, USCG Un-inspected Subchapter C and will measure under 300 Gross Tons U.S. These ATB units will be built to fully comply with the double hull requirements of the Oil Pollution Act of 1990 and will have sophisticated cargo, ballast and cargo inerting systems.  

Delivery of the first unit of ATB is expected to take place in first quarter 2006 and the second unit in third quarter 2006.  

"VT Halter Marine looks forward to building these state-of-the-art, high quality ATB Units for the Jones Act Coastal Transportation of refined products.  We are proud to continue to lead the market in innovative and cost effective solutions for our customers,"  said Boyd E. King, CEO, VT Halter Marine.

VT Halter marine is a subsidiary of Vision Technologies Systems which is a wholly owned subsidiary of Singapore Technologies Engineering.

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