Bollinger Inks Two Contracts with Moran Towing

Bollinger Shipyards and Moran Towing Corp. signed contracts for Bollinger to build one 14,500 short ton bulk barge and one 60,000 barrel Oil Pollution Act of 1990 (OPA'90) double-hull, ocean-going barge.

The large bulk barge will be similar to the three bulk barges currently in the Moran fleet, BRIDGEPORT, SOMERSET and PORTSMOUTH. The barge will be able to carry a wide range of products, including petroleum coke, coal, fertilizers, grains, scrap metal, steel plates, steel coils, sugar, crushed glass and numerous other commodities, as well as finished goods for a variety of long-term and spot customers. The bulk barge will be classed unmanned ocean service with dimensions of 418.5-feet x 75-feet x 29-feet.

The 60,000 barrel OPA'90 oceangoing tank barge will complement Moran's fleet of 10 petroleum barges, seven of which are OPA'90 compliant. The new barge measures 350-feet x 70-feet x 25-feet, and is being built as a US flagged vessel, built in compliance with the American Bureau of Shipping, and United States Coast Guard regulations, manned service for the carriage of Grade A and lower petroleum products.

"Our new construction projects with Bollinger will help maintain Moran's leading position with our customer base on both the dry cargo and tank barge sectors and keep Moran on track to achieve our goal of operating a full double-hull fleet by the end of next year", chairman Paul Tregurtha said.

Both vessels are already in production and are being built at the Bollinger Marine Fabricators, L.L.C. facility in Amelia, Louisiana. The dry bulk barge is scheduled for delivery in May of 2006 and the 60,000 barrel tank barge will follow with a delivery in September, 2006.

“The Bollinger organization is pleased to be a part of Moran's future plans." said Donald "Boysie" Bollinger, chairman and chief executive officer of Bollinger Shipyards, Inc., "Our two companies have a history dating back to our early days, with repairs and conversions. These two new build programs are well received by the Bollinger organization, and our people are dedicated to making these units the best in the industry."

Moran Towing Corporation is a 150-year-old maritime services company with operations on the U.S. East and Gulf coasts. The company currently operates 87 tugs, including 18 tractor tugs, and 30 barges.

Bollinger Shipyards, Inc. is a leading designer and builder of ocean-going double hull barges, offshore oil field support vessels, tug boats, rigs, liftboats, inland waterways push boats and barges, fast military patrol boats and other steel and aluminum products from its three new construction shipyards. Bollinger has 13 shipyards and all are strategically located between New Orleans and Houston with direct access to the Gulf of Mexico, Mississippi River and the Intracoastal Waterway. Bollinger is the largest vessel repair company in the Gulf of Mexico region with a total of 40 dry-docks in Louisiana and Texas.