Seabulk Takes Delivery of Two New Offshore Vessels

Seabulk International has taken delivery of two newbuild vessels for its international offshore fleet -- the Seabulk Angra and Seabulk Advantage -- bringing to nine the number of new vessels added in the last two years.

The Seabulk Angra is a 5,500-horsepower, 236-foot UT-755L platform supply vessel built at the Promar shipyard outside Rio de Janeiro. She will join her sister vessel, the Seabulk Brasil, on a two-year time charter, with options, for Petrobras, the Brazilian national oil company, ferrying equipment and supplies to offshore drilling rigs in the Campos Basin. Offshore Brazil is a new market for Seabulk and a promising area for significant new offshore oil and gas discoveries.

The Seabulk Advantage is a 4,800-horsepower, multi-purpose offshore supply vessel equipped with a four-point-mooring system and purchased from Jaya Shipbuilding & Marine, Pte. of Singapore. She will work offshore Angola on a five-year time charter, with options, for a major international oil company. Seabulk currently has five vessels working in Angola, which is fast becoming a major supplier of crude oil exports.

The Company has two additional offshore vessels scheduled for delivery in 2005 and four in 2006.