Deep Sea Enters 1-1 Charter Contract for Sea Witch

Deep Sea Supply has entered a 1 option 1 year charter contract for the Platform Supply Vessel, "Sea Witch." The vessel is the 8th vessel delivered to Deep Sea Supply from Cochin Shipyard and delivery is expected on December 10, 2008.

The vessel has been fixed to OMS in Australia at a daily bareboat rate of US $23,000/day (equivalent to a time charter of approximately 29,000-30,000/day).

The end user is BP. Commencement date under the charter is January 2, 2009. All Deep Sea Supply's Platform Supply Vessels are on long term charters.