tug boat market report - may 2011.pdf

Marcon International, Inc. Vessels and Barges for Sale or Charter Worldwide

1 www.marcon.com

Details believed correct, not guaranteed. Offered subject to availability.

P.O. Box 1170, 9 NW Front Street, Suite 201

Coupeville, WA 98239 U.S.A.

Telephone (360) 678 8880

Fax (360) 678-8890

E Mail: [email protected]

http://www.marcon.com

May 2011

Tug Market Report

Following is a breakdown of available anchor handling coastal, ocean and harbor tugs. Separate reports available on

inland river pushboats and anchor handling tug supply vessels.

Horsepower

Under

1,000

1,000 –

2,000

2,000 –

3,000

3,000 –

4,000

4,000 –

5,000

5,000 –

6,000

6,000 -

7,000

7,000 –

8,000

8,000 –

9,000

9,000

Plus Total

Mar 1996 199 163 59 65 18 7 8 7 4 4 550

Jan 1997 178 159 83 65 19 6 9 5 5 2 532

Jan 1998 139 142 72 46 14 9 6 6 5 2 432

Jan 1999 174 143 83 81 35 10 2 5 5 1 536

Jan 2000 161 145 72 62 27 15 3 4 7 2 498

Jan 2001 138 133 81 72 34 20 5 7 8 2 500

Jan 2002 117 134 85 67 38 22 2 5 6 4 480

Jan 2003 152 176 96 71 40 21 2 4 6 5 573

Jan 2004 117 140 77 67 29 21 1 5 12 3 472

Jan 2005 117 141 71 69 28 21 1 11 9 2 470

Jan 2006 97 125 90 66 21 16 5 6 8 1 435

Jan 2007 77 114 97 68 25 10 5 4 7 0 407

Jan 2008 73 118 105 58 19 13 2 7 1 1 397

Jan 2009 73 94 95 76 29 19 6 5 2 3 402

Feb 2010 74 136 121 125 47 36 9 7 3 4 562

May 2010 71 129 127 148 63 41 11 8 7 3 608

Aug 2010 61 107 117 143 60 39 9 7 8 3 554

Nov 2010 68 115 125 148 73 45 11 13 8 5 611

Feb 2011 - 66 111 137 142 80 47 10 15 8 5 621

May 2011 - Worldwide 69 117 142 144 75 45 13 15 5 5 630

May 2011 - U.S. 23 27 38 33 20 9 1 6 0 1 158

May 2011 - Foreign 46 90 104 111 55 36 12 9 5 4 472

Avg. Age - Worldwide 1971 1980 1981 1990 1990 1994 1996 1985 1984 1988

Avg. Age - U.S. 1960 1965 1966 1973 1978 1972 1976 1975 - 1972

Avg. Age - Foreign 1977 1984 1987 1996 1994 2000 1998 1991 1984 1993

Charter - Worldwide 27 53 72 81 40 34 11 19 14 14 365

Charter - U.S. 5 12 13 15 9 3 2 8 2 0 69

Charter - Foreign 22 41 59 66 31 31 9 11 12 14 295

Up Since Last Report Down Since Last Report

Market Overview Of the 10,813 vessels and 3,614 barges that Marcon currently tracks, 4,185 are tugs with 630 currently officially on the

market for sale worldwide, up 1.45% since February 2011. Of the tugs for sale, 45.8% of foreign and 94.3% of U.S.

tugboats are direct from Owners. 193 or 30.6% of the tugs worldwide, primarily foreign flagged, were built within the last

ten years, are newbuilding re-sales or currently under construction – compared to 29.3% at the last report. 59 (9.4%)

are over fifty years of age and 2 tugs are 75 years of age or older. 21 have no age listed. The oldest tugs Marcon

currently has listed are two 1931 built single screw tugs (later rebuilt), one in Germany and one on the U.S. Gulf Coast

– and both still reportedly in good operating condition, with one actually referred to by the Owner as a ―gem with teak

decks, brass stem bitt & paint that looks like a new car‖. These two ―old ladies‖ are balanced by 28 newbuildings up to

8,000HP range scheduled for delivery through 2011.

Marcon International, Inc. Tug Boat Market Report – May 2011

www.marcon.com


2

TUG ENGINE TYPES

Other

31%

Cummins

12%

EMD

12%

Niigata

7%

Deutz

5%

GM

4%

Yanmar

4%

CAT

19%

MWM

3%Ruston

3%

Tugs Listed For Sale by Marcon International, Inc.

0

100

200

300

400

500

600

700

Ma

r-9

5

Ma

r-9

6

Ma

r-9

7

Ma

r-9

8

Ma

r-9

9

Ma

r-0

0

Ma

r-0

1

Ma

r-0

2

Ma

r-0

3

Ma

r-0

4

Ma

r-0

5

Ma

r-0

6

Ma

r-0

7

Ma

r-0

8

Ma

r-0

9

Ma

r-1

0

Ma

r-1

1

Foreign US Total

Marcon Average Age & Price Per BHP

0

5

10

15

20

25

30

35

40

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

$0

$100

$200

$300

$400

$500

$600

$700

$800

Average Age Actual Sales Price / BHP

The majority of the tugs Marcon tracks for sale are in the U.S. with 151 tugs

officially on the market (up from 143 last report), followed by Southeast Asia with

108 (vs. 99), Europe with 102 tugs (100), 83 in the Far East (84), 73 in the

Mediterranean (70), 33 in the Mid East (31), 27 in the Caribbean (30), 25 ―by

arrangement‖ (or location unstated), 16 in Canada (16), 5 in Latin America (4), 4 in

the South Pacific (5) and 3 in Africa (7). The increase in tugs coming on the market

is across all areas of the world with the exception of Caribbean (three fewer), Far

East (down one) and Africa (down four). There are obviously also tugs we are not

familiar with for sale and others which are not officially on the market which we can

develop from Owners on a private & confidential basis. CAT diesels still power the

most tugs with machinery in 116 or 19% of the tugs Marcon lists for sale, where

engine type is known. This is followed by 75 Cummins, 72 EMD, 45 Niigata, 32

Deutz, 27 GM, 23 Yanmar, 19 Ruston and 16 MWM powered tugs. 178 tugs are powered by machinery from various

other manufacturers worldwide from ABC to Wichmann. Conventional single and twin screw tugs are still the most

prevalent with 360 twin (up from 351 in February) and 137 single screw (136 last report) for sale worldwide. Two tugs

are triple screw (up one), one a shallow-draft quad screw, 108 are azimuthing (down from 112 in February) and 22 are

Voith tractors (up from 20).

Marcon has seven more U.S. flag and two more foreign flag tugs showing up

for sale in our files – and I know that there are still others out there officially

on the market that we are not familiar with plus many that can be developed

on a private & confidential basis for sale out of competition. The majority of

foreign flag tugs for sale are in the 3-4,000BHP range with 111 available

(average age 15 years), but this is followed up by a close second with 104 2-

3,000HP tugs on the market. In the U.S., the greatest number of tugs for

sale are in the 2 – 3,000BHP range at 38 vessels (average age 45 years),

followed by 33 tugs in the in the 3 – 4,000BHP range with an average age of

38 years. We are starting to see a few more tug sales with five sold so far

this year and I am hoping we will be able to report four more sold by the end

of June. With all of the equipment listed many people think it is totally a ―Buyer‘s market‖, but more often than not what

a Buyer is looking for is not readily available. We are finding ourselves constantly chasing up Owners who operate

suitable equipment which is not on the market to see if we can convince them to even think about selling. Even then, I

am getting a ―Goldilocks‖ complex, where instead of one bowl of porridge being too hot, one being too cold and the

third being ―just right‖ it is a case of horsepower too low, draft too great, length too long (or short) and if they all end up

―just right‖, then the vessel or barge‘s condition is found to be too rough. Plus more than ever finding the right piece of

equipment is only the start. Where Buyers and Sellers were more willing to leave a little on the table a few years ago,

many recent negotiations seem to be highlighted by constant ―nickel and diming‖. Luckily though, there have been a

couple wonderful exceptions.

Marcon sold a total of 12,100BHP in tugs so far this year consisting of three 2009-10 built, 3,200BHP twin screw tugs, one 44 year old 1,700BHP single screw tug and one 52 year old 800HP twin screw tug. The average age of all the tugs sold was 20 years and average Price/BHP US$ 652. I expect this ratio to fall back to the US$ 400-500/BHP range as the year continues and more tugs are sold. Last year‘s average was 9 tugs sold totaling 46,998BHP with an average age of 28 years selling at US$ 589/BHP. Marcon has concluded sales of 258 tugs with a total horsepower of 778,200BHP since opening our doors.


www.marcon.com


3

Recent Marcon Tug & Barge Sales & Charters Marcon International is pleased to announce the sale of three twin screw, ocean-going tugs from Malaysian based, International Bulk Trade Pte. Ltd., to a private Central American buyer. The Singapore-registered sister-tugs sold were the 2010 built "Surya Ratna 18"; the 2009 built "Surya Ratna 15" and the 2009 built "Surya Ratna 16". All three tugs were built at Hung Seng Shipbuilding Sdn. Bhd. in Sibu, Malaysia, and are powered by twin Cummins KTA50M2 main engines producing a total of 3,200BHP at 1,800RPM, driving fixed pitch props in kort nozzles. Bollard pull is rated at between 40 and 45 tonnes and free

running speed is 12kn. The tugs are classed with Nippon Kaiji Kyokai (NKK). Measuring 32.1m length-overall x 9.0m beam x 4.2 depth and with a design draft of 3.5m, the tugs come equipped with a 100 ton brake holding, 40 ton line-pull single drum towing winch with a capacity of 650m 44mm wire. Also located on the aft deck is a 40 tonne SWL quick release tow hook. Auxiliary

power is provided by two 78kW Cummins 6BT5.9-D(M) Marinized and one 50kW Yanmar 4TNE 84TG1A generators. All three generators can be synchronized to handle seamless and uninterrupted load transfer. Each tug can carry a complement of 15 persons in air conditioned accommodations. Marcon acted as sole broker the transaction. The three tugs, in addition to 13 others, have been loaded aboard Fairstar‘s semi-submersible vessel ―Fjell‖ in Singapore for transportation around the Cape of Good Hope to Maracaibo, Venezuela. Fairstar has been contracted to deliver a total of 42 tugs to Venezuela using both the ―Fjell‖ and ―Fjord‖.

Foss Maritime Company, Seattle, WA sold their inland deck barge ―Foss 183‖ to a local Pacific Northwest based marine construction company. The 178' x 50' x 11.5' inland deck / materials barge was originally built in 1966 by National Steel and Shipbuilding in San Diego, California for Foss Maritime. The barge is double raked with twin towing skegs aft and fitted with bin walls. Built originally as an ABS Ocean Loadline barge, she has traded in inland service for many years. New Owners renamed her ―Orion 1801‖. Marcon acted as the sole broker.

Marcon has sold a total of nine vessels and barges so far in 2011, and have several additional tug sales pending. One

4,800nm tow, arranged through Marcon as sole broker, is expected to conclude early June 2011.


www.marcon.com


4

Worldwide Existing Tugs By Age Group

<25 years 25+ years 35+ years 50+ years

Once Again – A Record Number of Tugs Worldwide Worldwide number of tugs once again hit a record. While information in Lloyd’s

Register only covers ―sea-going‖ vessels over 100 GRT, there are many tugs

either under that tonnage or in inland service. According to Lloyd‘s, as of May 3rd,

2011, there were 14,474 ―sea-going‖ tugs over 100GRT worldwide, up from

14,160 in May 2010. Total horsepower is 38,304,829BHP. Even taking into

account flags of convenience, the largest national fleet of tugs over 100GRT sails

under Indonesian flag, with the U.S. still in first place as far as horsepower. The U.S.

operates 1,492 ―sea-going‖ tugs over 100GRT, or 10.3% of the world market, totaling

4,795,961BHP (12.52% globalBHP). Average age of tugs worldwide is 22 years with the

U.S. flag ―sea-going‖ fleet at 33 years.

Top 50 “Sea-Going” Tug Fleets By Units As Of May 2011 According to Lloyd’s Register

Flag TotalBHP % # Tugs % AvgBHP Avg Age

Worldwide 38,304,829 100.00% 14,474 100.00% 2,646 1990

Indonesia 3,983,897 10.40% 2,356 16.28% 1,691 1999

United States Of America 4,795,961 12.52% 1,492 10.31% 3,214 1978

Japan 2,555,565 6.67% 823 5.69% 3,105 1994

Singapore 1,991,761 5.20% 733 5.06% 2,717 2005

Unknown 1,109,602 2.90% 672 4.64% 1,651 1979

Malaysia 944,084 2.46% 451 3.12% 2,093 2001

Korea, South 1,141,227 2.98% 424 2.93% 2,692 1987

Panama 1,256,249 3.28% 412 2.85% 3,049 1986

India 964,659 2.52% 362 2.50% 2,665 1993

Russia 939,388 2.45% 362 2.50% 2,595 1987

Italy 1,032,923 2.70% 335 2.31% 3,083 1985

China, People's Republic Of 812,624 2.12% 268 1.85% 3,032 1988

United Kingdom 809,620 2.11% 251 1.73% 3,226 1991

Australia 720,299 1.88% 215 1.49% 3,350 1992

Canada 573,322 1.50% 211 1.46% 2,717 1973

Spain 759,050 1.98% 210 1.45% 3,615 1991

Turkey 444,838 1.16% 176 1.22% 2,527 1990

United Arab Emirates 487,588 1.27% 175 1.21% 2,786 1995

St Vincent & The Grenadines 565,955 1.48% 172 1.19% 3,290 1997

Iran 348,173 0.91% 161 1.11% 2,163 1987

Mexico 507,810 1.33% 155 1.07% 3,276 1985

Brazil 560,753 1.46% 145 1.00% 3,867 1999

Philippines 289,184 0.75% 145 1.00% 1,994 1975

Egypt 431,060 1.13% 143 0.99% 3,014 1987

Netherlands 538,262 1.41% 142 0.98% 3,791 1997

Saudi Arabia 412,655 1.08% 136 0.94% 3,034 1989

Greece 204,492 0.53% 117 0.81% 1,748 1972

Venezuela 327,874 0.86% 116 0.80% 2,827 1981

Ukraine 223,461 0.58% 115 0.79% 1,943 1982

France 379,707 0.99% 109 0.75% 3,484 1990

Thailand 259,894 0.68% 108 0.75% 2,406 1982

Germany 369,046 0.96% 102 0.70% 3,618 1988

Chinese Taipei 240,813 0.63% 94 0.65% 2,562 1987

Vietnam 174,006 0.45% 92 0.64% 1,891 1994

Norway 239,477 0.63% 79 0.55% 3,031 1979

Chile 266,353 0.70% 77 0.53% 3,459 1995

Bahrain 210,063 0.55% 68 0.47% 3,089 1988

Cyprus 222,310 0.58% 68 0.47% 3,269 2000

Tuvalu 149,864 0.39% 68 0.47% 2,204 1997

Honduras 125,444 0.33% 66 0.46% 1,901 1967

Sweden 214,806 0.56% 63 0.44% 3,410 1967

Algeria 194,369 0.51% 61 0.42% 3,186 1989

Finland 158,196 0.41% 61 0.42% 2,593 1969

Poland 98,263 0.26% 61 0.42% 1,611 1975

Nigeria 117,759 0.31% 59 0.41% 1,996 1981

Argentina 150,303 0.39% 55 0.38% 2,733 1978

Portugal 120,588 0.31% 55 0.38% 2,193 1977

Libya 134,459 0.35% 52 0.36% 2,586 1990

Colombia 131,777 0.34% 46 0.32% 2,865 1991

Kazakhstan 137,502 0.36% 46 0.32% 2,989 2005


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5

US Existing Tugs by Age Group

<25 years 25+ years 35+ years 50+ years

Seaweb Worldwide Seagoing Tugs

25,000,000

30,000,000

35,000,000

40,000,000

Jan-

07

Jan-

08

Apr-

08

Jul-

08

Oct-

08

Jan-

09

Apr-

09

Aug-

09

Nov-

09

Feb-

10

May-

10

Aug-

10

Nov-

10

Feb-

11

May-

11

Ho

rsep

ow

er

10,000

11,000

12,000

13,000

14,000

15,000

16,000

Co

un

t

HP Count

Seaweb U.S. Seagoing Tugs

4,000,000

4,250,000

4,500,000

4,750,000

5,000,000

Jan-

07

Jan-

08

Apr-

08

Jul-

08

Oct-

08

Jan-

09

Apr-

09

Aug-

09

Nov-

09

Feb-

10

May-

10

Aug-

10

Nov-

10

Feb-

11

May-

11

Ho

rsep

ow

er

1,400

1,475

1,550

1,625

1,700

Co

un

t

HP Count

While the worldwide tug fleet growth rate has leveled off, this does not

mean that global tug construction is coming to a screeching halt. The

average age of today‘s 14,474 strong ―sea-going‖ tug fleet is about 21

years – i.e. built in 1990. If the fleet were to stay the same size and

age, we would need to build 689 tugs per year. There are now about

624 tugs on the order book. I expect the worldwide fleet to both shrink

and age slightly over the next four or five years. As of last February,

the U.S. domestic tug fleet consisted of 1,491 ―sea-going‖ tugs totaling

4,792,591HP, down 23 tugs over November‘s figures. The U.S. flag

fleet has now increased by one tug to 1,492 as of the beginning of

May. Total horsepower has risen by 3,370BHP to 4,795,961HP. With

an average year built of 1978, or a 33 year age, the U.S. fleet is one of the older fleets in the world. There are a number

of reasons for this – with one major cause being the 1980‘s recession. Tug construction in the U.S. then did come to a

screeching halt. Between 1975 to 1982 an average of 59 harbor, anchor-handling, integrated and conventional tugs

were built per year at U.S. yards. This fell to 22 in 1983 with 7 built in 1984. Construction remained at this low level up

until about 1989-1990 when 14 tugs were on order. There are now 24

U.S. flag tugs according to Fairplay and 34 according to MarineLog /

Colton under construction. To maintain the current U.S. fleet level in

number of tugs and average age the U.S. needs to build 45 per year.

Although I do expect new construction to pick up slightly as the

economy improves, I do not expect to see 45 tugs ordered within the

near future. The U.S. fleet will probably decline in size. A decline in

numbers – regardless of whether domestic or international is not

necessarily a negative. Tugs built today are generally more versatile,

efficient, higher horsepower and require lower manning than the tugs

they replace.

Breakdown of U.S. “Sea-Going” Fleet Following is a breakdown of the U.S. sea-going tug fleet as of May 2011, according to

Lloyd‘s Register, by horsepower compared with last quarter. Note that Lloyd‘s Registry

has data on only 56 tugs under 999BHP. As most of the ―under thousand horsepower‖

class tugs in the U.S. are below 100 gross register tons, they are generally not included in

the Registry. In reality though, there are eight to nine hundred additional small tugboats in

this horsepower range in U.S. coastal waters. As noted above, the total number of U.S.

flag tugs is up one since the last report.

U.S. Sea-Going Tug Fleet Over 100GRT ByBHP According to Lloyd’s Register as of May 2011

UnknownBHP

Under

999

1000-

1999

2000-

2999

3000-

3999

4000-

4999

5000-

5999

6000-

6999

7000-

7999

8000-

8999 9000 Plus Total

Total # 147 56 305 223 263 230 92 61 58 10 47 1,492

AvgBHP 789 1,499 2,361 3,413 4,351 5,464 6,410 7,163 8,066 11,632

Avg LOA 88 80 87 97 107 107 118 114 138 137 140

Avg Beam 28 23 26 29 32 34 36 38 39 42 48

Avg Depth 14 13 14 14 14 15 14 14 13 18 13

Avg Year Built 1975 1953 1965 1974 1979 1990 1987 1998 1983 1996 2002

Previous U.S. Sea-Going Tug Fleet Over 100GRT ByBHP According to Lloyd’s Register as of February 2011

UnknownBHP

Under

999

1000-

1999

2000-

2999

3000-

3999

4000-

4999

5000-

5999

6000-

6999

7000-

7999

8000-

8999 9000 Plus Total

Total # 148 56 305 224 263 227 92 61 58 10 47 1,491

AvgBHP 789 1,500 2,361 3,413 4,351 5,461 6,410 7,163 8,066 11,788

Avg LOA 88 80 87 97 107 106 118 114 138 137 140

Avg Beam 28 23 26 29 32 34 36 38 39 42 49

Avg Depth 11 9 11 13 15 15 17 18 20 21 23

Avg Year Built 1975 1953 1965 1974 1979 1990 1987 1998 1983 1996 2001


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6

Fairplay World Orderbook Vessels Over 299GRT

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Oct

06

Jan

07

Apr

07

Jul 07 Oct

07

Jan

08

Apr

08

Jul 08 Oct

08

Jan

09

Apr

09

Jul 09 Nov

09

Feb

10

May

10

Aug

10

Nov

10

Feb

11

May

11

0

100

200

300

400

500

600

700

800

900

All Vessels Towing/Pushing

Worldwide Tugs On Order Over 299 GRT

0

25

50

75

100

125

150

Mala

ysia

Chin

a P

R

Indonesia

Spain

Turk

ey

US

A

Rom

ania

Vie

tnam

Egypt

Bra

zil

Japan

Sin

gapore

Pola

nd

Russia

Iran

Saudi A

rabia

South

Afr

ica

South

Kore

a

Cuba

India

UA

E

Fra

nce

Ukra

ine

Neth

erlands

Serb

ia

Thaila

nd

Chile

Italy

Lithuania

Arg

entina

Canada

Hong K

ong

Lib

ya

Peru

Phili

ppin

es

Credit: Fairplay Newbuildings Online 05/11

US Flag Tugs - Propeller Types

Tw in Screw

53%

Single Screw

30%

Azimuthing

13%

Triple Screw

2%

Voith-Schneider

2%

Credit: LR-Fairplay SeaWeb 05/01/11

Of the 1,492 U.S. flag tugs showing up in Lloyd‘s Register as of May 2011, 251 have unknown engines. 401 or 33%

those where engine type is known are powered by EMDs, 363 (29%) by CATs, and 211 (17%) by General Motors /

Detroit Diesels. Fairbanks still power 49

tugs or 4% of the fleet, mostly in older tugs.

It should be noted that we have seen many

EMDs showing up in Lloyd‘s Register under

the GM designation which may throw the

statistics slightly. Of the 1,492 U.S. flag

tugs, 450 (30%) and 784 (53%) are

conventional single screw and twin screw,

respectively. The remaining 17% of U.S.

flagged tugs are made up of 199 (up five

from Feb.) azimuthing, 36 triple screw and

23 Voith-Schneider tractor tugs.

New Construction, Shipyard and Conversion News According to ―Fairplay‖, as of 3 May 2011, there were

8,519 ships over 299GRT on the World Orderbook,

down 261, or about 2.97% from the 8,780 ships in

February 2011 and showing a further decline from the

9,839 one year ago in May 2010. Of this total

number, there were 624 tugs or ―towing / pushing‖

vessels (down from 629 / 743 in Feb. 2011 / May

2010 respectively) plus 609 Offshore Supply Vessels

and 158 designated as ―Offshore – Other‖. As this

data only covers vessels over 299GRT, I would not

be surprised to find a few additional tugs below

299GRT being built across the world. The tug current

order book represents only abt. 4.31% of the existing global tug fleet of ―sea-going‖ vessels over 100 GRT, which would

maintain an approximate same-size fleet age of abt. 23 years.

As of 3rd

May, of the 624 tugs under construction

across the world, once again Malaysia leads the

order book with 142 (down 12) tugs being built. They

are again followed by China PR at 126 (up 2) tugs

under construction; Indonesia 65 (up 15); Spain 30;

Turkey 28; USA in sixth place with 24 under

construction; 23 Romania; 22 Vietnam; 21 Egypt; 20

Brazil; Japan 17; 15 Singapore; Poland 12; 9

Russia; Iran 8; Saudi Arabia, South Africa and South

Korea 6 each; Cuba, India and the UAE 5 each; 4

each France and Ukraine; 3 each the Netherlands,

Serbia and Thailand; Chile, Italy and Lithuania 2

each; and 1 each in Argentina, Canada, Hong Kong,

Libya, Peru and the Philippines. Of the 624 tugs

presently being built, abt. .3% of the tugs are still

showing for delivery in 2010 (even though it is

already 2011), 86.7% in 2011, 12.2% in 2012 and

only .5% during 2013.

US Flag Tugs - Engine Types

EMD

33%

Caterpillar

29%

GM/DD

17%

Other

6%

Cummins

3%

M.T.U.

2%Alco

4%

Fairbanks Morse

4%

Wartsila

2%

Credit: LR-Fairplay SeaWeb 05/01/11


www.marcon.com


7

Newbuilding tug orders for 2012 and 2013 are expected to increase slightly as the economy improves and new orders

are placed.

Delivery Dates Worldwide Orderbook

For Tugs Over 299 GRT

0

25

50

75

100

125

150

175

200

225

250

4Q

2010

1Q

2011

2Q

2011

3Q

2011

4Q

2011

1Q

2012

2Q

2012

3Q

2012

4Q

2012

1Q

2013

2Q

2013

Credit: Fairplay New building Online 05/11

CAT power still leads propulsion in new sea-going tugs with engines in 160 tugs. This is followed by Niigata diesels in

93, Cummins in 74, Yanmar 58, Mitsubishi 41, Wartsila 23, General Electric 17, ABC 13, MTU 8, MAN/MAN-B&W 7, 5

each Bergens and Chinese Standard Type, 4 each Deutz and MaK, Daihatsu and EMD 3 each, 2 Volvo Penta, and 1

Hanshin. Engines were not listed for 103 tugs. Only 47 tugs below 1,000BHP are shown as under construction because

many tugs of this horsepower are under 299GRT.

Summary of Engines Worldwide Tug Orderbook Over 299 GRT

0

25

50

75

100

125

150

175

Cate

rpillar

Unknow

n

Niig

ata

Cum

min

s

Yanm

ar

Mits

ubis

hi

Wart

sila

GE

Marine

A.B

.C.

M.T

.U.

MA

N-B

&W

Berg

ens

Chin

ese S

td T

ype

Deutz

MaK

Daih

ats

u

EM

D

Volv

o P

enta

Hanshin

Credit: Fairplay New building Online 05/11

Summary of Horsepower – Fairplay Worldwide Tug Orderbook Over 299GRT Under 1,000 – 2,000- 3,000- 4,000- 5,000- 6,000- 7,000- 8,000- 9,000- Over Unk. Total

1,000HP 1,999HP 2,999HP 3,999HP 4,999HP 5,999HP 6,999HP 7,999HP 8,999HP 9,999HP 10,000HP

Tugs 47 119 98 168 42 42 4 5 8 2 7 82 624


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8

Signal International of Mobile, Alabama has been awarded a $47 million contract by Kirby Ocean Transport of

Houston, Texas, to build an articulated tug/barge unit with an option for an additional unit. The AT/B vessel is

comprised of a 20,000dwt ocean bulk barge with a 6,000BHP AT/B ocean tug. Barge will measure 480‘ x 90‘ x 36‘ and

will be outfitted with Ocean Tug & Barge Engineering’s Articouple connection. The 6,000HP tugboat will be 125‘ x 42‘

x 22‘ depth, built and classed to ABS Maltese Cross, +A1 Ocean Towing Service standards. The shape utilized for the

barge hull is a proven design based on a parent designed by Corning Townsend, of CT Marine, Edgecomb, ME. ―This

shape has proven to be an excellent balance between low resistance and buildability‖, according to Robert P. Hill,

President of Ocean Tug & Barge

Engineering Corp. of Milford, MA, the

designer of the vessels. ―It also allowed us

to obtain the greatest possible cubic for the

length, with low resistance and powering

requirements.‖ In addition, the barge has the

stern of OT&BE‘s successful ―Costwise‖

class AT/B barges, designed to reduce resistance and enhance maneuvering. ―This stern design is the result of

extensive model testing and CFD studies…‖, says Mr. Hill. The 6,000HP tugboat will be a variant of the highly

successful OT&BE ―Atlantic III‖ class tugs. Three of the vessels have been built previously at 6,000HP and two more,

this time at 8,000HP, are under construction presently at VT Halter for an east coast operator. This new Kirby design

shares with the 8,000HP version of the design, the employment of the Nautican high performance nozzle and triple

rudder arrangement. Bob Hill notes that ―We currently have five tugs of our design working with the high performance

nozzles and triple rudders, and the boats have excellent maneuvering characteristics both light tug and behind their

barges, and speed is enhanced.‖ The Kirby tugs will be powered by a pair of EMD 12-710 main engines, driving

Reintjes reverse/reduction gears.

The Kirby AT/B will transport dry-bulk commodities in United States coastwise trade. The barge fabrication work will

commence in the second quarter of 2011 at Signal‘s state-of-the-art continuous flow manufacturing facility in Orange,

Texas, which has 450,000ft2 of covered fabrication area. The first AT/B will complete in 14 months. The option AT/B

can be built in less than 12 months. This facility recently completed two of the world‘s largest floating power generation

barges within a 180-day production schedule. ―The fabrication of the AT/B is well-suited to our Orange shipyard and

experienced management team,‖ stated Dick Marler, Chairman and CEO of Signal International, noting that the

contract also puts Signal‘s Orange shipyard squarely back into shipbuilding. ―A return to shipbuilding has been a

strategic goal of Signal and we have all of the resources necessary to be competitive with regard to cost and schedule

for a variety of ship and vessel designs.‖ Marler added, ―In terms of job creation this contract will peak at an

employment level of around 500 craft personnel. Hiring will begin in late June in primarily the fitter and welder trades.

We expect to add four hundred workers at our Orange Shipyard.‖ Ocean Tug & Barge Engineering Corp. was founded

in 1993, and is located in Milford, MA. The firm has had a hand in either the design or refit engineering of dozens of

the AT/B‘s operational in the United States. AT/B tugs of the firm‘s design are currently under construction for

Reinauer (tugs three and four in a series of the FacetTug design) and now a tug and barge for Kirby. Additional AT/B‘s

for other services are under design currently for other clients as well.

On Sunday 20th March, Cheoy Lee Shipyards handed over ―Pequeni‖,

the sixth of the latest thirteen Z-Tech 6500 tug order for the Panama

Canal Authority. ―Pequeni‖ promptly set off on her 10,000nm trans-

Pacific crossing to Panama, a voyage that takes around 1-1/2 months,

around 25 days from Hong Kong to

Honolulu and then a further 20 days

on to Balboa, Panama. The

6,000BHP, 27.4m x 11.5m tugs are

built to LR +100AN Tug, +LMC UMS

class for service in the Panama

Canal and approaches. Delivery is being handled by Redwise of The Netherlands.

Tug and crew braved 10m high waves and 34-40kn winds for three days the first

week of the voyage followed by rain, thunderstorms and wind force 6 – 8 and finally

some sunshine as they got closer to Hawaii.


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9

At 1100 on 6th March of 2011, a launching ceremony of Yuexin Shipbuilding’s 58.7m

AHTS Vessel ―YX3139‖ was held in Yuexin Shipyard. With length overall 58.7m,

breadth moulded 11.6m, depth moulded 5.36m and draft 5.81m, the Bureau Veritas

classed vessel can carry 475m3 fuel oil and 230m

3 potable water at any one time.

Designed speed can reach 13.5 knots while the designed bollard pull can reach 65

tonnes….On 11th March 2011, a keel laying

ceremony of the Havyard Maritime designed, 81m x

19.5m x 9.5m depth AHTS ―YX3138‖ was held in

Yuexin Shipyard. With length overall 58.7m, breadth

moulded 11.6m, depth moulded 5.36m and draft 5.81m, the vessel can carry

1,270m3 fuel oil, 725m

3 fresh water, 260m

3 drill water, 215m

3 dry bulk and 540m

3

mud, the designed speed is 17 knots and designed bollard pull is 200 ton, which can

satisfy requirements of anchor handling, supply. Vessel is classed ABS +A1, EO, Tug

Supply Vessel, SF, Clean Design, Naut OSV, Dynpos Autr, DK_, HO, Oil Rec, Ice C,

FiFi 1…. The signing ceremony of four 58.7m AHTS between Martens Marine Pte Ltd as Buyer and Guangzhou

Panyu Yuexin Shipbuilding Company Ltd. and China National Aero Technology Import & Export Xiamen

Corporation as co-sellers was held on 16th March, 2011. The contract price of these four 58.7m AHTS reaches RMB

260,000,000 (abt. US$ 39.82 million / Euro 27.32 million). Built under ABS A1 (E) Offshore Support Vessel, AH, Towing

Vessel, Fire Fighting Class 1, AMS DPS-1, each vessel has an overall length of 58.7m with 14.6m breath moulded and

4.75m max draft. Power is provided by twin Caterpillar main engines, each rated at 2,575BHP at 1,600RPM, driving a

pair of controllable pitch propellers. Each vessel can carry 475m3 fuel oil, 230m

3 fresh water, 250m

3 mud and 187m

3 dry

bulk, with 65T designed bollard pull and 13.5knots designed speed. The electrical power is supplied by two 350kW

diesel-driven generators and two 800kW shaft generators. The cooperation between Guangzhou Panyu Yuexin

Shipbuilding Company Ltd. and China National Aero Technology Import & Export Xiamen Corporation dates back to

2003, and eight vessels have been delivered, including two 45m utility vessels, two 76m Platform Supply Vessels.

Guangzhou Panyu Yuexin Shipbuilding Company Ltd. has delivered 20 vessels of

this series, all of which have satisfactory feedback from the operators. The

success of signing four 58.7m AHTS is a milestone for Yuexin in developing the

international market…. At 2200 on 18th April of 2011, a launching ceremony for

the ASD tug ―YX3112‖ was held in Yuexin Shipyard. The vessel is a Robert Allan

Ltd. design with a length overall 32m, breadth moulded 11.6m, depth moulded

5.36m and draft 5.71m. The vessel can carry 211m3 fuel oil, 37m3 potable water,

113m3 drill water. Designed bollard pull is 60T and designed speed is13

knots…….On 20th April of 2011, Yuexin signed the second contract for a 45m

azimuthing and river pushboat and twenty-four 61m barges with P&O Maritime Service Paraguay S.A. Company.

Classed for unrestricted duty and built to ABS +A1 River Pusher Inland Service,

+AMS and +ABCU class, the vessel is designed to have a bollard pull of 60T, which

enables the vessel to push ten barges weighing 2,500 tons each at the same time.

With 45m in length and a breadth moulded of 16m as well as a moulded draft of

3.2m, the pushboat carries 733m3 fuel oil, 148m

3 diesel oil, 562m

3 ballast water,

89m3 fresh water and so on. With the complement of 20 men, the designed speed is

12 knots while the power reaches 6,500 horsepower. The shallow designed draft,

which draws about 1.83m to 3.2m, make the vessel applicable to serve in the river.

Propulsion comprises three Wartsila main engines each developing 1,600kW at

1,000RPM, driving three controllable pitch props from the USA, giving a bollard pull of 60 tonnes. The auxiliary

generators includes three Cummins powered generators each rated 260kWe.

Three Thrustmaster TH 2000MZ thrusters assist the vessel to rotate 360 degrees.

The first 45m Azimuthing River Pusher that Yuexin laid the keel for P&O in

September is planned to be launched the end of July 2011…. On 8th May, the

Focal Marine & Offshore designed 69.9m x 16.6m x 7.2m AHTS ―YX-3136‖ was

launched. The 100 tonne bollard pull AHTS is planned to be delivered in

November. Yuexin is building four 69.6m, 8,000HP AHTSs for Tidewater, Inc.,

among which ―YX-3133‖ is scheduled to be delivered in June 2011 with a sea-trial

scheduled for August 2011.


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10

The U.S. flagged, heavy-lift ship ―BBC Houston‖ delivered U.S. Navy tugboat

―Seminole‖ (YT 805) from Tacoma, Washington, to Commander Fleet

Activities Yokosuka (CFAY) April 8. The new tugboat is part of a plan to

upgrade CFAY tugboat operations. The tugboats currently in use in

Yokosuka are special because they are some of the only tugboats owned

and operated by the U.S. Navy. The tugs have provided a long history of

service moving ships forward-deployed to the area like the aircraft carrier

USS ―George Washington‖ (CVN 73), USS ―Blue Ridge‖ (LCC 19), USS

―John S McCain‖ (DDG 56) and previous ships that have already been

decommissioned like the carriers USS ―Midway‖ (CV 41) USS

―Independence‖ (CV 62) and USS ―Kitty Hawk‖ (CV 63). Some of the

tugboats have been in service for more that 40 years. ―We have five yard tugboats we use here in Yokosuka,‖ said

CFAY Port Operations Officer Lt. Cmdr. Michael Weatherford. ―All five of those will be [decommissioned] over the next

18 months. We will be getting three new commercial grade tugboats.‖ The new

410-ton tugboat looks distinctively different from the current tugboats. It has a

larger pilothouse with much larger windows and long exhaust ports that stick

high above the deck of the ship. It also has new engines that provide double the

amount of power from 2,000 to 4,000 horsepower. ―It gives us increased

capability here,‖ said Weatherford. ―Currently, to get ‗George Washington‘ or

‗Blue Ridge‘ underway we have to order in commercial tugs but now with these

upgraded tugs we will be able to conduct these operations ourselves.‖ As the

first of the new tugboats to be put into service in Yokosuka, it was given a

distinctive name that both pays tribute to the previous tugboats and represents

its increased capabilities. ―Originally when we got the contract for the new

tugboat they actually used the name ‗Defiant‘ for the tug but naval tradition is

tugboats were named after [Native American] tribes,‖ said Weatherford. ―We took two of our tugboats that are going to

be [decommissioned], which are named after [Native American] tribes that made up the Seminole nation. ‗Seminole‘

means ‗wild horse‘ so with the new tug having 4,000 horsepower compared to 2,000 horsepower, we thought it was a

good name for this new tug.‖ Chief Machinist Mate DeWayne Johnson, CFAY Port Operations chief engineer, works

with the current tugboats and is part of the team aboard the ―Seminole‖. ―The versatility of the new tug is the biggest

gain,‖ he said. ―You‘ll never see a finer vessel in the Navy, I‘ve never seen one look this good and they built us one

heck of a [boat].‖ ―Seminole‖ is already hard at work and will be joined by YT 806

about this time next year with the third tugboat joining the fleet further in the future.

All together they will be part of the U.S. Navy‘s only totally military operated tugboat

fleet and one that supports the forward-deployed naval forces on CFAY. The 90.0‘

x 38.3‘ x 16. 5‘ depth Robert Allan Ltd., Z-Tech 4500 class harbor tug was

launched in 2010 by Martinac Shipbuilding Corp. of Tacoma, Washington. Tug is

powered by twin CAT 3512C main engines, each rated at 1,800BHP driving

Schottel SRP 1012 azimuthing drives which produce a bollard pull of 92,500lbs.

ahead and 99,205lbs. astern. Electrical power is provided by a pair of 130kW

generators powered by John Deere diesels.

Pacific Offshore Engineering & Trading Pte Ltd. (POET)

contracted Offshore Ship Designers (OSD) to supply the design

for two Azistern 24/56 tugs. Both vessels will be built in China

under ABS supervision. The particular advantage of these vessels

is that they have capabilities of larger tugs, whilst due to their

comparatively small size (less than 24m load line length), they will

encounter lower operational costs. The overall length of the boats

will be 25.85m, with a beam of 10.80m. Two Cummins QSK-60

main engines and Rolls Royce azimuthing thrusters produce a

bollard pull of 56 tons and service speed of 11.5 knots.

Accommodations are provided for ten crew. The boats have

capacity for 110m3 fuel oil and 25m3 of fresh water. Both vessels will be outfitted with class-1 firefighting equipment.

The Azistern 2400 series can be upgraded to 70 tonnes BP.


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11

In a ceremony held at Crowley’s Jacksonville, Florida office, Bollinger executive VP, new construction, Chris Bollinger, presented a model of the new Ocean class tug to Crowley‘s, president, chairman and CEO, Tom Crowley. "We are pleased to unveil this model of the new Ocean class design for Crowley, as they expand their fleet with additional high-quality tugs to meet the needs of their clients. We look forward to the delivery and christening of the ‗Ocean Wave‘ and sister ships ‗Ocean Wind‘, ‗Ocean Sun‘ and ‗Ocean Sky‘,‖ said Chris Bollinger. Crowley contracted with Bollinger to build four of the new Ocean class design tugs, with the first vessel (Hull No. 576) scheduled to be delivered from Bollinger Marine Fabricators in the 4th quarter of 2011. "We are continuing to make the investments necessary to address the needs of our customers who are looking for best-in-class, modern and environmentally friendly equipment," said Tom Crowley Jr., chairman, president and CEO. "Crowley has always been an industry leader in tug design, technology and performance, and these new vessels are a reflection of our continued commitment to that.‖ The Ocean class towing vessel is a new design featuring a length of 146‘, breadth of 46‘ and depth of 26‘, dynamic positioning (DP-1), powered by twin CAT C-280-12 4-stroke Tier II engines, developing a total of 10,880BHP at 1,000RPM and have the ability to be upgraded to Tier III or IV, to meet future environmental standards. Tugs are outfitted with twin-screw, 153.5‖ diameter

controllable-pitch propellers in nozzles and high lift rudders for a combination of performance and fuel economy for towing and anchor handling. A 862BHP tunnel bow thruster adds to the maneuverability. Expected bollard pull is abt. 150 tons. Tug is double-hulled, which is designed to prevent any overboard discharges of fuel or fluids. All tanks containing liquids are inboard of the side shell. Vessels are classed ABS +A-1, Towing, AMS, USCG, SOLAS, and meet Fi-Fi 1 standards along with ABS Green Passport. Design also features ergonomic accommodations and comforts proven to minimize fatigue and reduce injuries of the crew. These next generation towing vessels are a unique design that is a combined effort from Bollinger‘s engineering

department, Crowley subsidiary Jensen Maritime Consultants and Crowley's Vessel Management Services. Ideally suited to work with Crowley's new 455

series high deck strength barges, which measure 400‘ by 105‘ and offer increased stability for loads up to 4,200psf, these Ocean class tugs will be outfitted for long-range, high-capacity, ocean towing, rig moves, platform and FPSO unit tows, emergency response and firefighting. The newly designed tugs will feature waterfall style winches, shark jaws and retractable pins that can all be controlled from the pilothouse, keeping the deck clear of personnel and reducing the risk of accidents.

Newport News Shipbuilding, a division of Huntington Ingalls

Industries, Inc. christened the ―Capt. Ambrose‖, a 1,200BHP tug

named in honor of Capt. Marvin L. Ambrose, a former tugboat master

and docking pilot who retired from the shipyard in 1973 after 44 years

of service. The ceremonial christening was held behind the Virginia

Advanced Shipbuilding and Carrier Integration Center in Newport

News. "Though we're no longer building tugboats here along the

banks of the James River, we still feel that same sense of pride and

ownership for our modern-day tugs as if we had built them ourselves,

and it's why we name them for shipbuilding legends," said Matt

Mulherin, HII corporate VP and president of Newport News Shipbuilding.‖ Our tugboats, their captains and crews, and

the work they perform are vitally important to the work we do for the U.S. Navy. They push, pull, navigate and turn the

largest and most complex nuclear-powered ships in the world, and they make it look

effortless, even though we all know it requires skill, experience and hard work."

Huntington Ingalls Industries designs, builds and maintains nuclear and non-nuclear

ships for the U.S. Navy and Coast Guard and provides after-market services for military

ships around the globe. Employing nearly 38,000 in Virginia, Mississippi, Louisiana and

California, its primary business divisions are Newport News Shipbuilding and Ingalls

Shipbuilding. The 67.5‘ x 26.0‘ x 8.5‘ depth twin screw ―Capt. Ambrose‖ was built by

Rodriquez Boat Builders, Inc. of Bayou La Batre, Alabama and powered by a pair of

600BHP CAT C-18 diesels with Twin Disc 5:1 gears and 66‖ diameter fixed pitch props.

http://www.jensenmaritime.com/Crowley-Home/What-We-Do/Ocean-Towing-and-Barge-Transportation/Vessel-Specifications/Barges/455-Series

http://www.jensenmaritime.com/Crowley-Home/What-We-Do/Ocean-Towing-and-Barge-Transportation/Vessel-Specifications/Barges/455-Series

http://www.jensenmaritime.com/Crowley-Home/What-We-Do/Marine-Salvage-Wreck-Removal-and-Emergency-Response


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12

Hans Schramm & Sohn Schleppschifffahrt of Germany has given a

newbuilding contract for the first "NavTug® FlatTop", developed by

NavConsult AWSS GmbH & Co. KG. Founded in 2006, provides the

NavConsult team in Brunsbüttel, Germany, highly specialized and customized

consulting services. A major focus is the development of tugs, pontoons and

specialized vessels for the offshore service. The latest design of the company

which belongs to the Schramm group, is the multi-purpose tug ―NavTug®

FlatTop―. First unit of this new development has already been ordered at the

end of last year in Turkey from Sanmar Ltd. shipyard in Istanbul who previously

delivered two ―Ulupinar‖ design ASD tugs to Hans Schramm. Construction of

the tug began in December, delivery is expected for early 2012. The vessel will

sail under the German flag. After completion it will join the fleet of Hans Schramm & Sohn Schleppschifffahrt which is

also a member of the Schramm group. The 31.5m x 12m overall x 3.8m depth ―NavTug® FlatTop― is a versatile and

powerful assist tug of the Multicat- und EuroCarrier building type, which was developed in close coordination with the

BG-Verkehr (German seamen's accident prevention and insurance association) and classed Germanischer Lloyd +100

A5 E RSA(s00) IW AH Tug +MC Aut. Due to very low draft it can also be used nearshore and offshore for works like

assistance in offshore sites and windfarms, anchor handler or cable layer support. Powered by twin 1,425kW CAT

3412HD diesels with Reintjes WAF 763 gears, 2.0m fixed pitch, 5-blade

props in high efficient kort nozzles, the tug develops a bollard pull of abt.

43 tonnes, speed of abt. 10kn free running and has a 20 day endurance.

Maneuverability is assisted by a 130kW hydraulic bow thruster. Towing

gear consists of a combined hydraulic independent double drum towing /

anchor handling winch with 50 tons line pull and a capacity of 750m

46mm wire, two 45 ton SWL tow hooks, two 5 ton tugger winches, bow &

stern rollers and 80T SWL hydraulic shark jaw.

This type of tug meets all national and international flag state formalities

and regulations for 24-hour operation, especially the cabin sizes and noise in the accommodation (< 60db). Most

commonly available flat deck type tugs cannot work around the clock because noise levels are too high and cabins too

small to meet German flag state regulations.

Accommodations are provided for six crew in

four cabins with lounge, messroom, pantry and

sanitary space. The tug has a large, 135m2,

10t/m2, free wood covered deck with a powerful

12 ton @ 10m deck crane. After completion of

the new tug, it will be used as escort and

support vessel for the cable layer barge ―Nostag

10‖. The shipping company already has a long-

term charter contract. Marcon previously sold the newbuilding 300‘ x 90‘ x 18‘ ocean deck barge which became the

―Nostag 10‖ to Hans Schramm, who mobilized her from the Far East to Germany during Spring 2009 converting her to

a Germanischer Lloyds classed submarine cable-laying barge fitted with accommodations for 40 persons, three

generators totaling 2,410kVA, a six-point mooring system with constant

tension winches and an anchor pile. In the past NavConsult has already

convinced its customers with successful development of the "NavTug® 18 TS

push" in the specialized shipbuilding. Two vessels of this type were completed

in 2009. These tugs have a custom-developed wheelhouse, which can be

lifted 4.4m in height by using a patented mechanism. Both tugs have been

chartered to PB Towage since the summer of 2009 for exploration by

Chevron in the Australian gas field ―Gorgon‖ for up to 6 years. The tugs are

berthing 91.5m x 27.5m x 6.1m Northsea-standard barges in the nature

reserve around Barrow Island due to less exhaust emissions, low noise and

shallow draft of 1.8m with 16 tonnes bollard pull.

http://dict.leo.org/ende?lp=ende&p=Ci4HO3kMAA&search=Seamen%27s&trestr=0x801

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http://dict.leo.org/ende?lp=ende&p=Ci4HO3kMAA&search=Association&trestr=0x801


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13

Although not a tug, the world‘s record for bollard pull has again been broken. On 25th April, Drydocks World delivered

―Lewek Fulmar‖ (Yard No. 190), the world‘s first UT788 CD Multi-functional Ultra Deep Water AHTS. The vessel was

built at Drydocks World‘s Singapore facility for EMAS Marine, also of Singapore. The vessel has broken the world

bollard pull record by an AHTS at 402.4 tonnes, surpassing the previous record of 397 tonnes. ―We have now built four

such vessels at our facility in Nanindah and a sixth vessel is under

construction in Singapore. As a result of our proven experience and

diverse capabilities in building work boats and support vessels, we have

built up a strong international clientele accumulated over the past

decades of operation. Our new building programme has achieved a

great impetus recently and we are pushing towards operational

excellence through lean management and improving efficiency at all

levels. We are emphasizing on providing value added services to our

customers,‖ said Khamis Juma Buamim, Chairman of Drydocks World

and Maritime World. ―Lewek Fulmar‖ is one of the most advanced

subsea construction vessels in the global oil and gas industry, equipped

with an ultra-deepwater UT788 CD AHTS system and subsea equipment such as wellheads, manifolds and jumpers. It

was specially designed to handle supply duties between land bases and drilling sites, towing of threatening objects,

assist during deepwater anchor handling and tanker loading. In addition, it is capable of carrying out field inspection,

maintenance and repair roles. The vessel will be able to perform a major part of the work done by most deepwater

vessels, but at a much more competitive price as a result of the use of a diesel electric engine which makes for low fuel

consumption. Mr. Lionel Lee, Group Managing Director of EMAS said: ―We are delighted to have achieved this world

record for an AHTS. ‗Lewek Fulmar‘ is one of our four new state-of-the-art vessels which will significantly add to the

Group‘s expansion into ultradeepwater territory. We are continually expanding the capabilities of our vessels so as to

provide a diverse offering across the offshore oil and gas industry.‖ The 93.4m x 22.0m x 9.5m depth ―Lewek Fulmar‖ is

powered by a pair of 8,000kW MAK 16M32C 4-stroke diesels developing total of 21,754HP.

Redwise out of the Netherlands is currently delivering the new 4,400BHP ASD sister-tugs ―Vichama‖ and ―Pakatnamu‖

from Zhenjiang, China to Callao, Peru for Tramarsa. The 26.5m x 9.8m x 4.5m ABS classed tugs were built by Jiangsu

Wuxi Shipyard Co. Ltd. of Wuxi, China and are powered by CAT diesels.

B.V. Scheepswerf Damen of Gorinchem in March 2011 delivered the

Damen ASD Tug 3111 design ―Karloo‖ to Half-Tide Marine Pty. Ltd. of

Australia. The 30.60m x 11.24m x 5.00m depth tug is powered by a pair of

CAT 3516TA HD/Ds providing a total of 4,180kW (5,600BHP) at 1,600RPM

to Rolls Royce US 255 2,600mm azimuthing drives. This produces a total of

69.3mt ahead and 64.6mt astern and a speed of 13.5kn ahead / 12.9kn

astern. Towing gear consists of a Ridderinkhof 185 ton brake hydraulically

driven anchor / towing winch forward, a 5 ton capstan and a 175 ton brake

Ridderinkhof hydraulically driven tow winch aft. Air conditioned

accommodations are provided for 6 crew with a Captain‘s cabin, Chief

Engineer‘s cabin, two double crew cabins, galley, mess/dayroom, workshop and sanitary facilities. ―Karloo‖ is classed

LR +100A1 Tug Australian Coastal Service up to 50nm from the coast, +LMC UMS…. On 14th April, the Russian

flagged, Damen Stan Tug 1907 designs ―Agony‖ and ―Deal‖ were handed over to the Tapes Commercial Sea Port.

These two 19.3m x 7.3m x 3.4m depth, 2,001BHP twin screw tugs have twin CAT

C32 TTA ACERTA/A diesels with Reintjes WAF 562L 5.947:1 gears and Kaplan II

fixed pitch props in 1,800mm Van de Giessen Optima kort nozzles. Bollard pulls

are 28.8 and 29.0 tons and free running speeds 11.7kn and 11.6kn respectively.

Maneuverability is assisted by a 60kW hydraulically driven HRP bow thruster.

―Agony‖ and ―Deal‖ are fitted with Kraaijeveld electric windlass forward with two

each 175kG Pool HHP anchors plus Mampaey disc type 450kN SWL tow hooks,

Kraaijeveld 10 ton at 10m/min tow winches and Helia 1.0 ton hydraulic cranes aft.

Vessels are classed BV 1 +Hull, +Mach, Tug Unrestricted Navigation and have

accommodations for three crew.


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14

Construction continues at Senesco Marine in North Kingston, Rhode Island on Reinauer Transportation’s 124.6‘ x

32.8‘ ―FacetTug‖ design AT/B tug Hull 204 ―Reinauer Twins‖ in preparation for attaching the wheelhouse and the tower

to the hull. FacetTug is an innovative hull shape developed by OT&BE, created solely from faceted plate sections, and

has no curvature in any plating. The design allows for the tug to be created from easily handled, pre-fabricated

sections, and makes the creation of double-skin fuel tanks significantly easier. 117‘ versions of the design are being

built in both 4,000HP conventional drive and 5,000HP diesel electric drive variants, both twin screw. The design has

been fully tank tested, and the development of the initial shape was verified by extensive CFD studies. ―Reinauer

Twins‖ is the third of four sister-tugs in the series which began with the ―Ruth M. Reinauer‖ in 2008.

―Pacific Champion‖, the latest addition to the Swire Pacific Offshore fleet,

was christened in March. Built at Sekwang Heavy Industries in Ulsan,

Korea, at a reported cost of about US$ 75 million each, this new category of

86.0m x 19.9m C-Class AHTSs complements Swire‘s existing fleet of 75

vessels. ―Pacific Champion‖ is a new UT786 Clean Design, 16,314BHP AHTS

built to Ice C Class, Comfort (V3) notations and equipped with a 400-tonne

line pull winch. Enhanced with FiFi II Fire-fighting, DP2, and Oil Recovery

capabilities, this powerful, high-specification vessel is suitable for a variety of

offshore tasks, particularly in deepwater and harsh environments.

Preparing to take environmental protection of Western

Alaska waters to a whole new level, Crowley Maritime

christened two new double-hulled petroleum tank

barges, the ―165-1‖ and ―165-2‖, during a small

ceremony at Dakota Creek Industries in Anacortes,

Washington. The vessels, which are the first double-

hulled, environmentally friendly barges of their kind to

operate in Western Alaska waters, will join Crowley‘s

―180-1‖, a double-hull barge that has serviced Alaska

since 2005. The hull was rigorously designed for use in

Western Alaska, with the highest priority given for the

safety of the personnel and the environment. Crowley is the only company bringing the safer double-hull vessels to

Alaska without any regulatory requirement, because as Crowley Senior VP and General Manager Rocky Smith said,

―It‘s just the right thing to do.‖ ―The delivery and deployment of these barges gives Crowley the opportunity to better

serve the Alaska market with the enhanced design features that are built into these vessels,‖ said Bob Cox, Crowley‘s

VP of petroleum distribution. ―This exemplifies our commitment to moving petroleum and petroleum products efficiently

and safely.‖ During the christening, vessel sponsors Janis Ivanoff,

president of Norton Sound Economic Development Corporation, and

Debra Shontz, director, Barrow operations for Arctic Slope Regional

Corporation, performed the time-honored tradition of christening the

vessels. The ―165-1‖ and ―165-2‖, will shortly depart for their homeport of

Nome, Alaska. The double-hull barges will be used for shallow-draft

operations and beach landings for the delivery of fuel and cargo to the

remote communities of Western Alaska. The vessels‘ concept design was

developed by Crowley‘s vessel management services team, which

worked closely with Crowley‘s Alaska operations. Dakota Creek built the

barges, and Crowley‘s Jensen Maritime provided the engineering

support to the shipyard for the final detailed design. Since 1953, Crowley has provided various marine, petroleum

distribution, and energy support services in Alaska - from the North Slope to Southcentral Alaska and both coastal and

inland communities including those along the Kuskokwim and Yukon Rivers - and today has offices and operations

throughout the state with more than 650 employees. The company has consistently provided unique solutions to

Alaska's logistics and marine transportation challenges and played an important role in Alaska's business development

and in protecting its environment.


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Greenbrier Companies’ of Lake Oswego, parent of barge builder Gunderson Marine,

revenues for the second quarter of 2011 were $286.3 million, up from $200.0 million in the

prior year's second quarter. William A. Furman, president and CEO, said, "We are pleased

to report near breakeven results, consistent with our previously disclosed outlook. This

goal was achieved during a quarter when we were ramping up railcar production, and were

impacted by both severe weather at certain facilities and expiration of a management services contract. Our business

visibility continues to improve. New railcar orders are continued evidence of the recovery in new railcar manufacturing.

Since the beginning of our fiscal year, we have received orders for 10,200 new railcars. We believe the expanding

product diversity of new orders signals the next stage of the recovery in the new railcar market. As we strive to meet

ongoing demand, we continue to ramp up production and are on track with plans to open an additional production line

in July 2011. We continue to expect to deliver between 9,000 and 10,000 new railcars in fiscal 2011." Manufacturing

segment revenue, consisting of marine and new railcar production in Europe and North America, for the second quarter

was $156.6 million, compared to $88.1 million in the second quarter of 2010. The revenue increase was primarily due

to higher railcar deliveries, somewhat offset by a decline in marine barge production and a change in product mix.

Current quarter new railcar deliveries of 2,200 units were up from 800 units

in the same quarter last year. Manufacturing gross margin for the second

quarter was 5.8% of revenues, compared to 7.3% in the second quarter of

2010. The decrease was due principally to a reduction in marine production

and certain inefficiencies associated with the ramping up of railcar

production. Based on current business trends, management continues to

anticipate that both revenues and Adjusted EBITDA will be higher in fiscal

2011 compared to fiscal 2010, with the second half of the year being

stronger than the first half of the year. Management anticipates the Company will be profitable in the second half of the

year and for the year as a whole, excluding any one-time charges associated with the repurchase or redemption of the

$235 million of outstanding 8 3/8% senior notes due 2015.

Trinity Industries of Dallas, Texas, reported an improved net income of $24.2

million for the first quarter ended March 31, 2011. Net income for the same

quarter of 2010 was $2.0 million. Revenues for the first quarter of 2011 were

$644.2 million compared with revenues of $454.0 million for the same quarter of

2010. ―Our financial performance during the first quarter reflects the benefits of a continuing economic recovery along

with the ability of our businesses to generate improved operating results from consistent production levels,‖ said

Timothy R. Wallace, Trinity‘s Chairman, CEO, and President. ―We are pleased to report record quarterly orders for new

railcars of 18,770, which includes orders in the supply agreement we recently entered into with GATX Corporation for

12,500 railcars over a five year-period. This order helps provide a long term level of consistent production for our railcar

manufacturing businesses. We are also pleased that we continue to maintain a strong liquidity position of more than

$1.1 billion at the end of the first quarter.‖ Revenues for the Inland Barge Group were $137.9 million in the first quarter

of 2011 compared to $97.4 million in the first quarter of 2010. Operating profit for the Inland Barge Group in the first

quarter of 2011 was $21.7 million compared to $17.8 million in the same quarter of 2010.

The Inland Barge Group received orders worth approx. $90 million during the first quarter

of 2011 and had a backlog of approx. $461 million as of March 31, 2011 compared to a

backlog of approx. $508 million at December 31, 2010. The economic and financial crisis

experienced by the United States economy since 2008 has impacted Trinity‘s businesses.

New orders for railcars and barges dropped in 2009 as the transportation industry suffered

a significant decline in the shipment of freight. The transportation industry experienced

weakness throughout 2009, but showed signs of recovery in late 2010. New orders for

railcars improved significantly in early 2011 due to demand for the shipment of

commodities, replacement of older railcars, and tax benefits from taking delivery of railcars

in 2011 and 2012. Orders for structural wind towers have been slow since mid-2008 when energy development

companies encountered tightened credit markets coupled with lower demand and prices for electricity and natural gas

sales. The slowdown in the residential and commercial construction markets impacted Trinity‘s Construction Products

Group as well. As a result of an assessment of their manufacturing capacity and demand, Trinity has reduced their

production footprint and staffing levels causing certain facilities shut down, but if demand increases, these non-

operating facilities would be available for future operations. Due to recent improvements in demand, certain facilities

have taken on additional production staff in late 2010 and early 2011.


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In 2010, STX Europe had operating revenues of NOK 20.9 billion. During the year, the company delivered 25 vessels; 3 cruise ships, 21 offshore and other specialized vessels, and 1 chemical tanker. The year 2010 proved to be another challenging year for the global shipbuilding industry. The effects of the economic downturn of the past two years resulting in a decline in shipbuilding orders, continued to affect the industry. Despite this, STX Europe delivered significantly improved results in 2010. The Offshore & Specialised Vessels area delivered strong results for 2010, while the Cruise & Ferries business area is still showing weak results. Activity level at the yards was high and operational performance was good with successful delivery of 25 vessels during 2010 – among them some of the world‘s largest and most advanced vessels within their segments. In 2010, STX OSV was restructured

from being a business unit of STX Europe to being a listed company, under the new name STX OSV Holdings

Limited. STX Europe retains a 69.02% ownership stake in the company. STX OSV‘s core business is design and construction of complex and highly customized offshore and specialized vessels, including platform supply vessels, anchor handling tug supply vessels and advanced offshore subsea construction vessels. 2010 was an eventful year for STX OSV. Reflecting the positive market outlook for the E&P and oil services sectors in Brazil, STX OSV decided in March 2010 to invest in development of a second shipyard in Brazil. Upon finalization of planning and permitting work, ground-breaking for the new yard is expected to commence in mid-2011, and construction start of the first vessels is expected in 2012. The new yard will be located in the Suape Industrial area in the state of Pernambuco, and will triple the STX‘s total delivery capacity in Brazil. In April 2010, STX OSV‘s new shipyard in Vung Tau, Vietnam, was formally opened. Yard construction had started in 2007, and the new yard delivered its first vessel in May and the second in November 2010. At year-end, the shipyard had 664 employees. In September, the STX OSV designed vessel ―Skandi Aker‖, delivered from STX OSV Søviknes in Norway, was recognized with the Ship of the Year award. The ship, an

advanced Well Intervention Vessel delivered to DOF and operated by Aker Solutions, was designed for operations previously performed by offshore drilling units, and can perform riser-based well interventions at subsea wells in water depths up to 3,000m. During the year, STX OSV also recorded the commercial breakthrough for its in-house designed new hull shape, optimized for all weather conditions, and delivered several record-breaking AHTSs, setting standards both with respect to vessel width and stability and bollard pull. As of 31 December 2010, STX OSV had 49 vessels in the order book, 36 of which will be of STX OSV‘s own design. Order intake was strong in 2010, almost tripling from 2009 and exceeding NOK 12.5 billion, with 27 vessels contracted. During 2010, STX OSV delivered 21 vessels. Intensified competition from Asian shipyards, especially in countries like Korea, Japan and China, has had a significant impact on the global shipbuilding industry. These countries typically have a competitive advantage within cost-effectiveness and high production volumes within traditional commercial tonnage, such as dry cargo, tankers and containerships. STX Europe‘s strategy to focus within the highly specialized cruise and ferries segment, offshore vessels and other specialized vessels, has made it possible for STX to remain competitive. Within the Group‘s market segments, the competition largely stems from other Norwegian and European shipyards. However, with an increasing number of Asian shipyards shifting focus towards building increasingly more complex and specialized vessels, the focus to maintain and improve the competitive edge in the high-end of the market has become more important than ever. During 2010 market conditions improved with an increase in the number of newbuilding projects. Despite

increasing ordering activity among the cruise and ferry operators, the market conditions remain challenging. As a consequence, STX Finland and STX France are undertaking comprehensive improvement programs with a view to improve its overall competitiveness and to meet the challenges from an overall lower activity level. The current offshore service market is still depressed, resulting in slow pick-up in vessel orders from shipowners. Based on an industry expectation for rates to improve in 2012, order momentum for vessels is

expected to improve during the year. Increasing demand for deeper water exploration and operations in harsh environments will continue to drive demand for new vessels. The industry‘s focus on environmental performance, such as fuel efficiency and lower emissions as well as increased safety standards and new rules and regulations, also drives demand for new designs. The market is currently slow, but the Group believes it is recognized in the market as an innovative, competent and reliable partner and will be able to benefit from its market position to obtain new orders in 2011.


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Wärtsilä Corporation’s interim first quarter 2011 net sales increased 18% to Euro

1,083 million, up from Euro 922 million for the corresponding 2010 quarter. Ole

Johansson, President and CEO commented: ―I am pleased with the start of the year

that saw increased sales and solid profitability. As expected the Services business

showed growth as a result of our customers increasing the utilisation of their assets.

The Power Plants markets continued on a good level with an increasing interest in

natural gas based power generation. In Ship Power we also see further natural gas

related prospects, as well as notable activity in the offshore segment. We are seeing signs, however, of uncertainty in

the global business environment and some customers seem hesitant in decision making. Our restructuring measures

have resulted in improved efficiency and competitiveness and provide a good basis for profitable growth in 2011.‖

During the first months of the year overall vessel ordering activity was at a lower level than at the end of 2010. There

was a slowdown in bulk carrier orders. However, in the container segment a few owners have placed some significant

orders. As expected, activity continued at a good level in the offshore and the more specialised tonnage markets. In the

offshore market, the demand for drill ships and platform supply vessels has been active and rising oil prices are

expected to drive that demand further. During the review period, China and Korea continued to be the most important

shipbuilding countries – in number of vessels China was slightly bigger whereas in terms of dead weight tonnage

(DWT) Korea was slightly ahead. The Chinese owners continued to place a high share of all new orders with the

support of Chinese funding. Growing shipbuilding nations, such as Brazil, were also active and secured an increasing

share of the orders. Wärtsilä‘s share of the market in medium speed main engines remained at 42% (42% at the end of

the previous quarter) and its market share in low speed main engines decreased to 11% (13). In auxiliary engines,

Wärtsilä‘s share was 3% (4).

Ship Power‘s order intake for the first three months totaled EUR 173 million (90), up 92%. Compared to the previous

quarter, order intake was down 3% (EUR 178 million in the fourth quarter of 2010). During the first quarter, Wärtsilä

received a significant order for a ferry from the Finnish ship owner Viking Line. The vessel will be the largest passenger

vessel ever to operate on LNG. Merchant segment orders represented 29% of the total orders during the first quarter.

The offshore segment continued to be active with a 27% share of total orders, followed by Cruise & Ferry and Special

vessels with 16% and 15% respectively. The Navy segment represented a 7% share and Ship Design 6% share of the

total. The total order book at the end of the review period stood at EUR 3,669 million (4,330), a decrease of 15%. The

Ship Power order book stood at EUR 1,699 million (2,242), which is 24% lower than at the same date last year. At the

end of the review period, the Power Plants order book amounted to EUR 1,204 million (1,392), a decrease of 14%. The

Services order book totaled EUR 766 million (696) at the end of the review period, representing an increase of 10%.

In the marine market, the merchant segment is expected to be slow in 2011, as the market is still suffering from

overcapacity and sluggish earnings development. The ordering activity for bulk carriers is expected to continue to slow

down. However, the outlook for certain sub-segments, like containers and LNG carriers, is improving. The Offshore and

Special vessel segments have remained lively and this is expected to continue. There is rising interest and activity in

natural gas applications. Wärtsilä Ship Power reiterates its view of continued price pressure within its markets, and its

expectation of moderately better order intake in 2011 compared to the previous year. Recovery in the power generation

market is expected to continue in 2011. The growing emerging markets will continue to invest in new power generation

capacity, which will increase demand - especially in the flexible baseload segment. The ramp down of older coal based

generation will increase the demand for gas based generation in the medium to long term. This is supported by the

production of shale gas in the US, and the expectation that natural gas prices will remain competitive. Wärtsilä Power

Plants estimates its order intake to remain at a good level in 2011. The Services market is expected to follow the global

economy to growth this year. The largest growth potential comes from Asia and the Americas. Power Plants customers

continue to have a stable demand for services and there are good prospects for new contracts especially in Asia. In

Europe, marine customers are still focusing on cost savings while in Asia the markets are normalizing. The outlook is

also good for the offshore services market. The competition for services projects and maintenance work in the marine

market will remain tight. However, Wärtsilä Services is well positioned thanks to its diversified customer base and

broad geographical presence, as well as the wide range of services offered. We expect a sustainable recovery in the

marine service market in 2011. Wärtsilä expects its net sales for 2011 to grow by 3-5% and operational profitability

(EBIT% before nonrecurring items) to be around 11%.


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Caterpillar Inc. of Peoria, Illinois reported a record quarterly profit with

sales and revenues increasing 57% and profit up 426%. Driven by the

continuing improvement in global demand for its products and its focus

on cost management, Caterpillar Inc. reported first-quarter 2011 sales

and revenues of $12.949 billion up from $8.238 billion in the corresponding 2010 quarter. Profit was a record $1.225

billion in the quarter, an increase of 426 percent from $233 million in the first quarter of 2010.

―I am very pleased with our first-quarter results—demand continued to improve, we increased production, cost control

was excellent, and our operating profit margin improved. We generated more than $1.6 billion of operating cash flow

from our Machinery and Power Systems (M&PS) businesses, an increase of more than 50 percent, and our debt-to-

capital ratio dropped more than 4 percentage points from year-end 2010,‖ said Chairman and CEO Doug Oberhelman.

―We have the right strategy, and it‘s squarely focused on helping our customers win. Our new organization is in place,

is focused on execution and is getting the job done. Given the scale of the volume ramp-up over the past year we also

need to recognize the tremendous job that our suppliers and dealers have done to support us and our customers,‖

added Oberhelman. ―While we posted great financial results for the quarter, we were saddened by the disaster that

struck Japan following the earthquake and tsunami in early March. Our thoughts and prayers are with the people in

Japan who have been impacted by this disaster, including those at one Cat dealer, where two employees perished in

the tsunami. I want to recognize and thank our employees in Japan, along with Caterpillar employees around the world,

our suppliers and dealers as they have worked tirelessly to minimize the impact on our operations from the disaster,‖

Oberhelman added. The improvement in profit was primarily a result of significantly higher sales volume. Price

realization was favorable, but the impact was more than offset by higher manufacturing, selling, general and

administrative and research and development expenses. In addition, $90 million of the improvement was due to the

absence of a tax charge from first quarter 2010 related to enactment of U.S. health care legislation.

Outlook for 2011 has improved. Sales and revenues are now expected to be in a range of $52 to $54 billion. The

previous 2011 outlook was for sales and revenues to exceed $50 billion. The revised outlook reflects higher expected

sales and revenues and higher profit per share than CAT‘s previous record year of 2008 when sales and revenues

were $51.3 billion. However, the outlook does not include the acquisitions of MWM Holding GmbH or Bucyrus

International because they have not yet closed. While the 2011 outlook has improved, the increase would have been

greater if not for the impact of the disaster in Japan. Caterpillar‘s facilities were not damaged by the earthquake and

tsunami, but many of CAT‘s suppliers in Japan were impacted. As a result, Caterpillar is experiencing sporadic

production disruptions at many of facilities around the world. CAT expect the disruptions will have a negative impact on

sales, factory efficiency and costs— particularly in the second quarter. Caterpillar is working hard to minimize the

impact on their business, and while the situation has steadily improved in the aftermath of the disaster, it will likely have

a negative impact on 2011 sales of about $300 million and negatively impact operating profit by about $100 million.

"We are positive about the short-term U.S. economic outlook but believe bipartisan actions are needed in Washington

to improve the long-run fiscal position of the U.S. government. Instead of pointing fingers at each other, the

Administration and members of Congress need to work hand in hand to find solutions that will position the U.S.

economy for long-term strength. Growing jobs and reducing unemployment would significantly reduce the deficit by

increasing tax revenues, opening markets by approving free trade agreements would grow exports and support jobs,

and adjustments to spending programs and the tax code would improve the long-term competitiveness of the

economy," said Oberhelman. ―We expect that the pace of world economic growth will support continued recovery in the

key industries we serve. Caterpillar, along with our global dealer network, is uniquely positioned to serve our

customers, who are building the infrastructure and delivering the commodities necessary for a growing world economy.

The continuing improvement in our outlook validates our strategy to aggressively invest in additional capacity for key

products. We expect capital expenditures of about $3 billion in 2011 with more than half in the United States,‖ added

Oberhelman. ―As I recently told investors at our analyst meeting at the ConExpo trade show in Las Vegas—we‘re on a

roll and in a hurry. We have a great strategy, and we‘re off to a good start, but we have room to improve and more to

do to reach our goals for 2015,‖ said Oberhelman.

Machinery and Power Systems sales increased 63% due to higher end-user demand and dealers adding inventory

during the first quarter of 2011. While Machinery and Power Systems sales volume increased more than 50%,

manufacturing costs increased less than 3%.


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The improvement in sales volume occurred across the world in all geographic regions and in all segments. About $800

million of the increase in volume was a result of dealers adding new machine inventory in the first quarter compared

with about flat dealer inventories during the first quarter of 2010. Growth in the global economy increased both demand

for commodities and commodity prices and was positive for mining in all regions of the world. Construction activity

continued to grow in the developing world and has led to record machine sales in many developing countries. In

developed countries, despite a continued weak level of construction activity, sales increased as a result of customers

upgrading machine fleets and replacing some older equipment and dealers refreshing some equipment in rental fleets.

Power Systems‘ sales were $4.449 billion in the first quarter of 2011, an

increase of $1.508 billion, or 51%, from the first quarter of 2010. Most of the

improvement was a result of higher sales volume and the acquisition of

EMD. Sales for petroleum, electric power and industrial applications all

improved, while sales of large marine engines declined. Worldwide demand

for energy and higher oil prices are encouraging customers to invest, and we

are seeing stronger demand for engines and turbines for petroleum

applications. Electric power has continued to improve over the past year as a

result of better economic growth, and sales of industrial engines to

customers that manufacture agricultural and construction equipment have

improved. Sales were up in all geographic regions from the depressed levels

of the first quarter of 2010. Despite continuing weak housing and commercial construction in North America, the

increase was primarily from sales of engines and turbines for petroleum and electric power applications which were up

from very low levels in the first quarter of 2010. The acquisition of EMD added sales of $171 million in North America.

Sales in Europe, Africa, the Middle East and the Commonwealth of Independent States increased due to higher sales

of industrial engines, engines for electric power and higher turbine sales. Asia/Pacific sales increased due to higher

sales of engines and turbines for electric power applications. The acquisition of EMD added sales of $50 million in

Asia/Pacific. Sales in Latin America increased primarily due to higher turbines sales into petroleum applications. Power

Systems‘ profit was $700 million in the first quarter of 2011 compared with $292 million in first quarter of 2010. The

improvement was primarily due to higher sales volume and improved price realization. The improvements were partially

offset by higher period manufacturing costs related to increased volume and provisions for incentive pay. SG&A and

R&D expenses were also higher due to increased provisions for incentive pay and additional investment in new product

development programs related to emissions requirements.

Caterpillar expects that world economic growth will be near 4% in 2011, about the same as in 2010. While political

unrest in Northern Africa and the Middle East, the earthquake and tsunami in Japan and higher commodity prices have

increased concerns that the world economic recovery could slow, CAT does not expect a significant impact to

economic growth.

Key points related to Caterpillar‘s economic outlook include:

Interest rates are low, and it expects, because of high unemployment, that central banks will remain cautious in

raising rates.

Industrial production in the majority of countries has not recovered to pre-recession levels, unemployment is

high, and wages, which are a more important business cost than energy, should increase moderately and help

contain inflation.

Historically, oil price changes have had limited impact on overall inflation. Worldwide, consumer prices

increased at a lower rate in the last decade than during the 1990s, even though oil prices increased much

faster. Inflation severe enough to force significant policy tightening should be a problem in only a few

developing countries.

Economic growth in developing countries is increasing demand for commodities. As an example, oil demand

increased 3.5% over the past year, with 70% of the growth coming from developing countries.

Demand in the developed countries is 6% below the last peak.

Metals and energy prices have steadily increased since early 2009, and Caterpillar expects average prices for

2011 will be higher than in 2010. Their outlook assumes copper prices will average about $4.40 per pound;

West Texas Intermediate oil, $105 per barrel; and Central Appalachian coal, more than $75 per ton.


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Higher prices for oil and other commodities signal production capacity is

insufficient to meet the needs of a growing world economy and, in our view,

do not signal inflation. Resolving the problem of insufficient capacity will

require increased investment in productive capacity. Metals mining

companies are increasing capital budgets, and active drilling rigs are near

the pre-recession peak. CAT anticipates investment in metals and energy

capacity will be up significantly from 2010.

In developing countries inflation is rising, and some central banks have raised interest rates from recession

lows. While CAT expects additional increases in some countries, interest rates in developing countries should

remain below 2008 peaks.

CAT expects economic growth in developing countries to moderate from about 7% in 2010 to about 6.5% in

2011, an economic growth rate that we anticipate will support continued growth in their business.

China raised both interest rates and bank reserve requirements to reduce its rate of inflation. CAT expects

these actions will slow economic growth to more than 9% in 2011, but conditions remain positive for business.

Developed economies recovered slowly in 2010, with growth of about 2.5%. Caterpillar expects growth will

improve slightly in 2011.

Near zero short-term interest rates and the U.S. Federal Reserve‘s quantitative easing program are benefiting

the U.S. economy. Both manufacturing and service sector surveys strengthened in the first quarter of 2011,

and employment is beginning to improve. Caterpillar anticipates the U.S. economy will grow 3.5% in 2011.

CAT expects the Fed will keep its target for the Federal Funds rate in the 0 to 0.25% range through at least

year-end 2011. Caterpillar also expects the Fed will complete its quantitative easing program in June 2011 and

then stabilize reserves in the banking system for at least several months to assess economic developments.

Caterpillar forecasts slightly more than 2% economic growth in Europe in 2011, a modest improvement from

1.8% growth in 2010. Home construction has already started to recover, and CAT expects nonresidential

construction to begin to grow in the coming months. The European Central Bank likely will raise interest rates

at least another 25 basis points this year, but CAT does not expect these actions will end the economic

recovery underway.

The impact of the earthquake and tsunami, including continued electricity shortages, will likely cause the

Japanese economy to decline in the first half of 2011. The Bank of Japan has injected record amounts of

liquidity into the banking system, and the government likely will introduce a significant reconstruction program.

Caterpillar expects a strong second half recovery will result in 1.5% economic growth for 2011, down from

3.9% in 2010.

Economic Risks

Caterpillar believes that developed economies are fragile and premature policy tightening could end recoveries.

Should such tightening occur, however, adverse impacts would likely not develop until late in 2011.

Excess oil production capacity is low, and the spread of political unrest to major oil-producing countries in the

Middle East could result in insufficient oil supplies to support expected economic growth. An inadequate oil

supply would be a major risk for continued growth of the world economy.

With demand for power solutions continuing to increase in Brazil, Caterpillar Inc. is expanding with a new operation for packaging generator sets and diesel electric propulsion systems in support of marine and petroleum customers in Brazil. Operations to package 3500C series engines will begin in the third quarter of 2011 at the Caterpillar facility in Piracicaba, São Paulo, Brazil. The generator sets and diesel electric propulsion systems to be packaged in Piracicaba will include significant local content. The 3500C series packages for diesel electric propulsion and marine auxiliary power have a track record of performance in marine applications.


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Niigata Power Systems completed on-board tests of environmentally friendly technology

compliant with the NOx Tier III enforced by the IMO in January 2016. As on-board tests, a

marine SCR (selective catalytic reduction) was integrated into the 1,491kW main engine of

a cargo coastal vessel currently in service to evaluate the NOx reduction efficiency and

durability under actual service conditions. The test revealed that the system reduced NOx

emissions by more than 80%, comparing to without SCR. Niigata has been engaged in on-

board tests of the marine SCR compliant with Tier III since last July. The requirement of Tier

III is difficult to meet by improving engine combustion alone, and furthermore additional

exhaust gas after treatment, such as integration of SCR into the marine engine, had to be

developed. In research and development, conventional SCR used for stationary power

generation was downsized and optimized to suit ship environments, and the SCR was

improved to obtain optimal control of reducing agents, such as urea water solutions, to be

installed for the test. As a result, NOx reduction required by Tier III was achieved. Cummins Inc. reported sharply higher sales and earnings compared to the first quarter of 2010

on continued strength in key international markets, a recovering North American truck market and

productivity improvements. First quarter sales of $3.9 billion were up 56% from $2.5 billion in the

same period in 2010. Earnings before interest and taxes (EBIT) were $532 million or 13.8% of

sales, double Cummins‘ earnings from the same period a year ago. EBIT as a percentage of

sales in the first quarter was at its highest level in at least 25 years. Net income. was $343 million

compared to $149 million in the first quarter of 2010.

"Our outstanding first quarter results demonstrate that we are well positioned to take advantage of our significant

growth opportunities as markets around the world continue to recover," said Tim Solso, Chairman and CEO. "The work

we have done over the past two years to keep the Company strong during the global economic recession is paying off

today." As a result of performance in the first quarter and its forecast for the remainder of the year, Cummins increased

both its EBIT and sales guidance for 2011. Cummins now expects to earn 14% EBIT on $17 billion in sales in 2011.

Engine segment sales of $2.4 billion were up 68% compared to the same quarter a year ago, which was artificially

weak due to a change in emissions standards and the economic downturn. Segment EBIT of $290 million, or 12.1% of

sales, was a quarterly record. Strong demand in Brazil contributed to the growth in the medium-duty engine market.

Power Generation sales increased 54% to $795 million on the strength of improved sales in its commercial products.

Total segment sales in Western Europe increased 88%; 81% in the Middle East and 47% in India. Segment EBIT was

$89 million, or 11.2% of sales.

Cummins‘ non- U.S. markets continued showing strong growth as sales were up in every major international region

compared to the same period last year. Consolidated sales in China were up 66%; India 31%; Brazil 39%; Africa and

Middle East 40%. Sales outside the United States accounted for 61% of Cummins‘ revenue in the quarter. "Our first

quarter results reflect strong growth in demand for our products across most of our markets," said Cummins President

and CEO Tom Linebarger. "We expect the growth to continue and are investing significantly in the additional capacity

needed to serve our customers around the world." Cummins' guidance for 2011 excludes any gains from the previously

announced sale of two businesses, which are expected to close later in the year.

Cummins also announced that the QSK high-horsepower engine range will move to meet EPA Tier 4 Final off-highway

2015 emissions with a combination of clean in-cylinder combustion and a new Selective Catalytic Reduction (SCR)

clean exhaust system. For most applications, the Tier 4 Final QSK engine and integrated SCR aftertreatment offer

installation simplicity of a drop-in replacement for current QSK engines and exhaust mufflers, with a similar size and

equivalent noise reduction. While achieving very low emissions levels, Cummins Tier 4 Final technology also reduces

overall cost of operation, with QSK fuel efficiency improved by 5% to 10%, depending on the duty cycle. The new SCR

clean exhaust system will be utilized on the next generation of 19-liter to 60-liter QSK engines across a broad 800HP to

3,000HP (597-2,237 kW) power range. The Tier 4 Final engines retain the exceptional power output and in-service

dependability of the current QSK engines, proven in the most demanding high-horsepower applications. The SCR clean

exhaust system will be scaled-up for QSK engines above 3000HP, including the new larger-displacement engine

platform, with details due to be released in September. Cummins Tier 4 Final technology brings common emissions

architecture to a diverse range of high-horsepower applications, including mining, locomotives, marine vessels, oil and

gas equipment, power generation, large cranes and other industrial equipment.


www.marcon.com


22

The U.S. Maritime Administration has $9,800,000 available for grants for capital and related

improvements for qualified small shipyard facilities that will be effective in fostering efficiency,

competitive operations, and quality ship construction, repair, & reconfiguration. The period for

submitting grant applications commenced on April 15, 2011 and will terminate on June 14,

2011. Applications must be received by Marad by 1700 EDT on June 14, 2011. Applications

received later than this time will not be considered. Marad intends to award grants no later than

August 15, 2011. No more than 25% of the funds available will be awarded to any small

shipyard facility in one geographic location that has more than 600 production employees.

Federal funds for any eligible project will not exceed 75% of the total cost of such project.

As of 3rd

May 2011, MarineLog and Tim Colton reported 34 tugs on the order books in the U.S., down three from the

37 reported in February and down 14 from one year ago.

Shipbuilder Location Type of Vessel

Customer Pennant

#s Yard # Name Description

Contract Price

($mm)

Delivery

U.S. Shipbuilding Contracts

Bollinger SY Amelia LA Ocean Tug Crowley Maritime 576 Ocean Wave 10,880HP 2011

Bollinger SY Amelia LA Ocean Tug Crowley Maritime 577 Ocean Wind 10,880HP 2011

Bollinger SY Amelia LA Ocean Tug Crowley Maritime 578 Ocean Sun 10,880HP 2012

Bollinger SY Amelia LA Ocean Tug Crowley Maritime 579 Ocean Sky 10,880HP 2012

C. & G. BW Bayou La Batre Tug Crescent Towing 118 2010

Chesapeake SB Salisbury MD Tug Vane Brothers 96 3,000-hp 2011

Dakota Creek Ind Anacortes WA ATB Tug Crowley Marine Legacy 16,320HP Nov-11

Dakota Creek Ind Anacortes WA ATB Tug Crowley Marine Legend 16,320HP Jun-12

Dakota Creek Ind Anacortes WA ATB Tug Crowley Marine Liberty 16,320HP Mar-13

Derecktor CT Bridgeport CT Escort Tug Boston Towing 2011

Donjon SB Erie PA ATB Tug Donjon/Seacor 114 Ken Boothe, Sr. 10,700HP Apr-11

Diversified Marine Portland OR Tug Shaver Towing 5,360HP 2011

Main Iron Works Houma LA Tractor Tug Bisso Towboat 4,000HP Dec-10

Martinac SB Tacoma WA Tug Pacific Tugboat Services YT 805 3,620-hp 2011



Raymond Assoc Bayou La Batre Tug North Bank Towing 6,000HP 2011

Raymond Assoc Bayou La Batre Tug North Bank Towing 6,000HP 2011

Rozema BW Mt. Vernon WA Tug U.S. Navy (for Kuwait) 1216 65 ft. Nov-11

SENESCO North Kingston RI ATB Tug Reinauer Tptn. 204 Reinauer Boys 2011

SENESCO North Kingston RI ATB Tug Reinauer Tptn. 205 2011

SENESCO North Kingston RI ATB Tug Reinauer Tptn. 206 2011

Signal International Orange TX ATB Tug Kirby Ocean Tpt. 6,000HP May-12

Signet SB Pascagoula MS Tug Signet Maritime 105 Signet Weatherly 3,200-hp Mar-11

Sneed SB Orange TX ATB Tug Vitus Marine 76-ft. Jun-11

Sneed SB Orange TX ATB Tug Vitus Marine 76-ft. Jun-11

Trinity Offshore Gulfport MS Escort Tug Colle Maritime 6,800HP 2011

Trinity Offshore Gulfport MS Escort Tug Colle Maritime 6,800HP 2012

VT Halter Pascagoula MS ATB Tug Crowley Marine 1984 Vision 9,280HP 1Q 2011

VT Halter Pascagoula MS ATB Tug (C) OSG America OSG Horizon 2011

VT Halter Pascagoula MS ATB Tug OSG America 2003 8,000HP 11 Jun-11

VT Halter Pascagoula MS ATB Tug OSG America 2004 8,000HP 11 Sep-11

Washburn Doughty East Boothbay ME Tug Moran Towing 95 Lizzy B. Moran 5,100HP 2011

Washburn Doughty East Boothbay ME Tug Moran Towing 101 5,100HP 2011

(C) Completion


www.marcon.com


23

The Economy and the Towing Industry According to International Monetary Fund’s April 2011 ―World Economic Outlook‖, the world economic recovery

continues more or less as predicted. World growth fell to about 3.75% during the second half of 2010, from 5.25%

during the first half. The IMF expects the world economy to grow at about 4.5% a year in both 2011 and 2012.

The recovery though is unbalanced and moving at two different speeds. After reaching just 3% in 2010, advanced

economies are predicted to grow at only 2.5% in 2011 and 2012, while emerging and developing economies are

expected to average 6.5%, after many countries saw over 7% growth last year. In most advanced economies, output is

still far below potential. Unemployment is still too high, and their low growth means that unemployment will remain high

for many years to come. In many countries, especially the United States, the housing market is still very depressed so

people are not investing in housing. The problems in the European Union area are

particularly rough. Reestablishing fiscal and financial strength in the face of low or even

negative growth and high interest rates is a challenge. In emerging market economies, by

contrast, the crisis left no lasting wounds. Their economies did not have as far to fall. Their

initial financial positions were generally stronger, and the negative effects of the recession

were more muted. Higher growth and low interest rates are making financial adjustment

much easier for them. Their exports have largely recovered, and whatever shortfall in

external demand they experienced has typically been made up through increases in

domestic demand. Money is generally flowing into their economies instead of out because

of better growth prospects and higher interest rates than in the advanced economies.

Earlier fears of a global double-dip recession - which the IMF did not share - has not happen, at least yet. The main

worry was that in advanced economies, that growth would fizzle after an initial recovery. Commodity prices have

increased more than expected, reflecting a combination of strong growth in demand and shocks to supply. Although

these price increases make people think of a 1970s-style ―stagflation‖, the IMF believes that it they are unlikely to derail

the economic recovery. In advanced economies there may be only small effects on growth and core inflation. The

challenge will be stronger however in emerging and developing economies, where the consumption share of food and

fuel is larger and the credibility of monetary policy is often weaker. Inflation may well be higher for some time but, as

IMF‘s forecasts suggest, they do not expect a major negative effect on growth. However, risks to the recovery from

additional disruptions to oil supply are a concern.

A lot of big companies are finally starting to show strong profits and stock prices in emerging Asia, Latin America, and

the United States have approached pre-crisis peaks. As of 2nd

May the Dow Jones Industrial Average hit 12,874 for the

first time since May 2008 and only 8.6% off the high of 14,093 in October 2007. Money is flowing in to some larger

emerging market economies - for example, Brazil, China, India, Indonesia, Mexico, Peru,

Poland, and Turkey. All are close or above pre-crisis levels. Capital flows out of the U.S.

have returned to pre-crisis levels, but redirected to emerging market economies and away

from advanced economies. Prices of commodity have quickly risen. Stronger-than-

anticipated global demand for commodities reduced inventories and caused a strong,

sustained, and broad-based increase in prices. The overall IMF commodity price index

rose by 32% from the middle of 2010 to February 2011 - recovering about three-quarters

of the 55% decline after the peak in July 2008 through early 2009. Given the improvement

in financial markets, buoyant activity in many emerging and developing economies, and

growing confidence in advanced economies, the International Monetary Fund feels that

economic prospects for 2011–12 are good, notwithstanding new volatility caused by fears

about disruptions to oil supply. Imports of emerging and developing economies are back to pre-crisis trends, but those

in advanced economies continue to lag. Capital flows from advanced to emerging economies have picked up.

However, according to some measures, they slowed down during fall 2010.


www.marcon.com


24

International Monetary Fund Summary of World Output – Annual Percent Change

Average Projections

1993-2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2016

World 3.3 3.6 4.9 4.6 5.2 5.4 2.9 -0.5 5.0 4.4 4.5 4.7 Advanced Economies 2.8 1.9 3.1 2.7 3.0 2.7 0.2 -3.4 3.0 2.4 2.6 2.4 United States 3.4 2.5 3.6 3.1 2.7 1.9 0.0 -2.6 2.8 2.8 2.9 2.7 Euro Area 2.1 0.8 2.2 1.7 3.1 2.9 0.4 -4.1 1.7 1.6 1.8 1.7 Japan 0.8 1.4 2.7 1.9 2.0 2.4 -1.2 -6.3 3.9 1.4 2.1 1.2 Other Advanced Economies 3.8 2.6 4.1 3.4 3.9 4.0 1.1 -2.3 4.3 3.2 3.3 3.1 Emerging & Developing Economies 4.1 6.2 7.5 7.3 8.2 8.8 6.1 2.7 7.3 6.5 6.5 6.8 Regional Groups Central & Eastern Europe 3.3 4.8 7.3 5.9 6.4 5.5 3.2 -3.6 4.2 3.7 4.0 3.9 Commonwealth of Independent States -1.2 7.7 8.1 6.7 8.9 9.0 5.3 -6.4 4.6 5.0 4.7 4.3 Developing Asia 7.1 8.1 8.6 9.5 10.4 11.4 7.7 7.2 9.5 8.4 8.4 8.6 Latin American & Caribbean 2.7 2.1 6.0 4.7 5.6 5.7 4.3 -1.7 6.1 4.7 4.2 3.9 Mid-East and North Africa 3.3 7.3 6.0 5.4 5.8 6.2 5.1 1.8 3.8 4.1 4.2 5.1 Sub-Saharan Africa 3.7 4.9 7.1 6.2 6.4 7.2 5.6 2.8 5.0 5.5 5.9 5.4

According to the IMF‘s April 2011 ―Regional Economic Outlook‖, economic recovery in Asia as a whole has been rapid

(8.3% in 2010) and fueled by both exports and domestic demand. Looking ahead, growth is expected to continue at a

more moderate but also more sustainable pace in 2011 and 2012, led by China and India. Meanwhile, new risks to the

outlook have emerged. The full human cost and impact on infrastructure of the mid-March earthquake and tsunami in

Japan remain to be determined. The steady response of the Japanese government and people has helped to contain

the effects of the disaster on production, but a risk remains of prolonged disruptions in production that could spill over

to other Asian economies in the regional supply chain. Moreover, tensions in the Middle East and North Africa and

related risk of further oil price spikes could disrupt global growth and affect Asian exports. Finally, pockets of

overheating have emerged in Asia, as core inflation and credit growth have accelerated in several Asian economies….

For the United States, the near-term outlook for growth has become somewhat more favorable, although the overall

picture of a sluggish recovery remains. With unemployment remaining high, monetary policy will need to provide

ongoing support to demand, as fiscal consolidation needs to proceed in the coming two years…. Despite its close ties

to the United States, Canada’s recovery from the global crisis has been relatively swift. Real GDP reached its pre-crisis

level by second quarter 2010, initially led by strong domestic demand and accompanied by job creation, a large share

of which has been in the form of temporary and part-time employment. Canadian real GDP is estimated to have

expanded by 3.1% in 2010, after contracting by 2.5% in 2009. Following a slowdown in the third quarter of 2010, growth

picked up during the final months of last year. Marcon is seeing signs of Canada‘s recovery as more Canadian buyers

in the second quarter of 2011 started looking to the U.S. for deck barge purchases after a long dry spell.… Overheating

risks stand out in much of Latin America. Growth is moderating from fast rates

last year, but remains above trend. Domestic demand has been growing even

faster, pushed not only by favorable external conditions but also by

macroeconomic policies that have been quite stimulative and are only gradually

normalizing. Early signs of overheating pressures and possible excesses are

appearing in several realms. Inflation is rising in much of the region, though so far

it is still relatively close to targets in most cases. High commodity prices are

supporting growth particularly in commodity-exporting countries with stronger

trade links with Asia. However, the recent increase in global food and energy

prices are adding to policy challenges, as countries seek to contain its impact on

inflation and to protect the poor. A further supply-related increase in oil prices for a

protracted period is a potential risk that could dampen global growth, particularly in

Central America and the Caribbean given their dependency on imported oil.

According to International Monetary Fund‘s ―World Economic Outlook‖, unemployment remains above pre-crisis levels

in many economies, including the U.S. Globally, unemployment is expected to average about 6% in 2011, with rates

ranging from 4% in East Asia to 10% in the Mid-East. Unemployment poses grave economic and social challenges,

which are amplified in emerging and developing economies by high food prices The young especially face difficulties.


www.marcon.com


25

In the United States, nonfarm payroll rose by 244,000 in April, but the unemployment rate edged up to 9.0%. The

number of officially unemployed persons, at 13.7 million, changed little. Those unemployed for less than 5 weeks

increased by 242,000 in April and long-term unemployed and jobless for 27 weeks or longer declined to 5.8 million.

Since a low in February 2010, total payroll employment has grown by 1.8 million and private sector employment

increased by 2.1 million. One reason for the higher unemployment rate is that the civilian labor force grew the last

month, due to young workers entering the market plus many ―discouraged workers‖ and others not counted in earlier

figures are back looking for work. In April, 2.5 million persons were marginally attached to the labor force, about the

same as a year earlier. These individuals were not in the labor force, but wanted and were available for work, and had

looked for a job in the prior 12 months. They were not counted because they had not searched for work in the 4 weeks

before the survey. Among marginally attached, there were 989,000 discouraged workers in April, a decline of 208,000

from a year earlier. Discouraged workers are not looking for work because they believe no jobs are available. The

remaining 1.5 million persons marginally attached to the labor force had not

searched for work because of school attendance or family responsibilities.

Manufacturing employment rose by 29,000. Employment growth continued in

machinery (+5,000), primary metals (+4,000), and computer & electronics (+4,000).

Mining added 11,000 jobs in April. Since a recent low in October 2009, employment

in mining increased by 107,000. Construction was about unchanged in April. This

industry has shown little movement since early 2010, after having fallen sharply

during the prior 3 years. We still have 13.747 million people officially unemployed in

the U.S. If you include 8.6 million ―involuntary part-time workers for economic

reasons‖ who are unable to find a full time job or hours cut back (up from 8.433 million in February 2011), 2.466 million

not counted because they had not looked for work in four weeks and 989 thousand ―discouraged workers‖ who gave

up, the U.S. still has abt. 25.635 million people, or 16.7% of the continually growing 153.421 million civilian workforce

unemployed or under-employed – which is a slight improvement over 16.8% in February 2011 and 18.12% un- or

under-employed in November 2010. Getting people back to work takes time. There are no quick fixes no matter what

any politician says. We might not see unemployment below 7% in the next four years regardless of which political party

wins the Presidential Election and bulk of Senate, House of Representative and gubernatorial races in 2012 – so we all

have to bite the bullet, continue hanging on doing the best we can and hire one-by-one to make our industries grow.

After the sixteen month recession of July 1981 – November 1982 when unemployment hit 10.8% and GDP declined

3.6% the unemployment rate stayed above 7% until January 1986.

Euro area (EA17) seasonally-adjusted unemployment was 9.9% in

March 2011, unchanged compared with February. It was 10.1% in

March 2010. The EU27 unemployment rate was 9.5% in March 2011,

also unchanged compared with February. It was 9.7% in March 2010.

Eurostat, European Union’s statistical office estimates that 22.8

million men and women in the EU27, of whom 15.6 million were in

the euro area, were unemployed in March 2011. Among Member

States, the lowest unemployment rates were recorded in the Netherlands (4.2%), Austria (4.3%) and Luxembourg

(4.5%), and highest in Spain (20.7%), Lithuania (17.3% 4Q 2010) and Latvia (17.2% 4Q 2010). Compared with a year

ago, the unemployment rate fell in sixteen Member States, increased in ten and remained stable in Poland. The largest

falls were in Latvia (20.1% to 17.2% between fourth quarters ‗09 and 2010), Estonia (16.1% to 14.3% between fourth

quarters ‗09 and 2010) and Germany (7.4% to 6.3%). Highest increases were in Greece (10.2% to 14.1% between

fourth quarters ‗09 and 2010), Bulgaria (9.7% to 11.4%) and Ireland (13.1% to 14.7%). In March 2011, the

unemployment rate was 8.8% in the U.S. In February 2011, it was 4.6% in Japan. Amid healthy economic expansion,

Singapore’s employment creation in first quarter 2011 was fairly strong. Preliminary estimates show that total

employment grew by 23,700 in the first quarter. The increase was expectedly lower than the seasonal high of 33,900 in

the fourth quarter and the robust 36,500 gains in the first quarter last year, supported by the strong hirings arising from

the integrated resorts and recovery from the ‗09 recession. Reflecting the tight labor market, overall unemployment fell

from 2.2% in December 2010 to 1.9% in March 2011. Among the resident labor force, unemployment declined from

3.1% to 2.7%. Both overall and resident unemployment rates are the lowest in three years. South Korea‘s

unemployment rate was 4.3% in March, up 0.2% year-on-year while their work force, grew 2.2%. Malaysia‘s

unemployment rate decreased significantly by 0.5% to 2.9% in February 2011 compared to 3.4% the previous month.

In Latin America, Brazil reported a March unemployment rate of 6.5%, up from 6.1% in January while Chile‘s National

Statistical Institute reported 7.3% for the January – March 2011 period


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26

According to the World Trade Organization, trade growth will ease in 2011 but

despite 2010 record surge, a crisis hangover persists. Following the record-breaking

14.5% surge in the volume of exports in 2010 world trade growth should settle to a

more modest 6.5% expansion in 2011. The sharp rise in trade volumes last year

enabled world trade to recover to its pre-crisis level but not its long-term trend and

WTO economists believe the recent series of important events around the world

lend a greater degree of uncertainty to any forecast. ―The figures show how trade

has helped the world escape recession in 2010,‖ WTO Director-General Pascal

Lamy said. ―However, the hangover from the financial crisis is still with us. High

unemployment in developed economies and sharp belt-tightening in Europe will keep fuelling protectionist pressures.

WTO Members must continue to be vigilant and resist these pressures and to work toward opening markets rather than

closing them. ‗Stability‘ should be the name of the game for 2011‖.

The 14.5% rise was the largest annual figure in the present data series which began in 1950 and was buoyed by a

3.6% recovery in global output. It was a rebound from the 12% slump in 2009, returning trade to the 2008 peak level

and to more normal rates of expansion. Nevertheless, the financial crisis and global recession continue to have an

impact, they said. For 2011, the economists are forecasting a more modest 6.5% increase, but with uncertainty about

the impact of a number of recent events, including the earthquake and tsunami in Japan. If achieved, this would be

higher than the 6.0% average yearly increase between 1990 and 2008. These figures refer to growth in the volume of

world trade, i.e., trade in real terms, adjusted for changes in prices and exchange rates. The projection is based on a

consensus estimate of global output growth by economic forecasters, who predict a GDP growth rate of 3.1% in 2011

at market exchange rates.

The factors that contributed to the unusually large drop in world trade in 2009 may have also helped boost the size of

the rebound in 2010. These include the spread of global supply chains and the product composition of trade compared

to output. Global supply chains cause goods to cross national boundaries several times during the production process,

which raises measured world trade flows compared to earlier decades. The quantification of this effect would require

data on trade in value added that are not currently available. The goods that were most affected by the downturn

(consumer durables, industrial machinery, etc.) have a larger share in world trade than in world GDP, which increased

the magnitude of the trade slump relative to GDP in 2009, and which had a similar positive effect during the recovery of

2010. The short-term outlook is clouded by a number of significant risks factors in addition to the catastrophes in

Japan. These include rising prices for food and other primary products, and unrest in major oil exporting countries.

Adverse developments in any of these areas could potentially set back the economic recovery and limit the expansion

of trade in the coming year. The full impact of the Japanese disaster is particularly difficult to gauge since it is

complicated by a simultaneous nuclear incident, which is hampering relief and rebuilding efforts. The limited amount of

research on the economic consequences of natural disasters suggests, however, that the trade impact should be

relatively small, especially in the in the medium-to-long term.

Higher prices for primary commodities and the extraordinary growth of trade in developing Asia helped boost the

combined share of developing economies and the Commonwealth of Independent States in world exports to 45% in

2010, its highest ever. Developed economies recorded export growth of nearly 13% in 2010, compared to a 16.5%

average increase in the rest of the world. China‘s exports increased in

2010 by a massive 28% in volume terms. Although the growth of world

exports in 2010 was the fastest on record in a data series going back to

1950, it might have been even faster if trade had quickly reverted to its

pre-crisis trend. This did not happen. The rebound was strong enough for

world exports to recover their peak level of 2008, but it was not strong

enough to bring about a return to the previous growth path. The 3.6%

growth rate of world GDP for 2010 is also less robust than it might appear

at first glance. It was above its average rate of 3.1% between 1990 and

2008, but it was far from a record. In fact, world GDP growth equaled or

exceeded 4% several times in recent years, including 1997, 2000, 2004

and 2006. Considering the depressed level of world output in 2009,

growth in this range or higher would not have been surprising in 2010.


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27

A number of factors combined to make trade and output grow more slowly than they might otherwise have done. First,

curtailment of fiscal stimulus measures in many countries dampened economic activity in the second half of the year.

European governments in particular moved toward fiscal consolidation in an attempt to reduce their budget deficits

through a combination of spending cuts and revenue measures, with negative consequences for short-term growth.

Second, although oil prices stabilized at around $78/barrel in 2010, they were still high by recent historical standards

(e.g. oil prices averaged $31/barrel between 2000 and 2005). Prices were below the $96/barrel average seen in 2008,

but they were also up 30% from 2009, raising energy costs for households and businesses.

Finally, persistent unemployment prevented domestic consumption from rebounding more strongly in developed

countries and limited income growth and import demand. The OECD average unemployment rate was 8.6% in 2010

(up from 6.1% in 2008), and unemployment remained at or near 9% in the United States throughout the year.

The record expansion of trade and the revival of economic activity in 2010 were certainly welcome developments, but

their importance should not be overstated. Despite the rebound, the negative impact of the financial crisis and global

recession are likely to persist for some time.

World trade flows are continuing their recovery, building on the

large gains of 2010, with slower but still slightly above average

growth in 2011. However, recent events in the Middle East and

Japan have raised the level of global economic uncertainty and

tilted the balance of risk towards the downside. WTO

economists‘ baseline projections for world merchandise trade in

2011 would see exports grow by 6.5%, with shipments from

developed countries increasing by around 4.5% and those from

developing economies and the CIS advancing 9.5%. These

projections include the likely impact of Japan‘s earthquake, but if

the repercussions turn out to be worse than expected we would

have to revisit the forecast in the coming months.

In recognition of the uncertainty surrounding any forecast, the fan chart

represents probabilities associated with this year‘s trade growth prediction of

6.5%, based on experience of past forecasts and taking into account current

economic and political conditions. The area covered by the darkest band in

the center contains the most likely development of trade volumes. The area

covered by each pair of identically shaded bands represents another 5%

probability of future trade volumes lying within that range. In light of the

downside risks mentioned above, the fan chart is slightly skewed towards its

lower range. It can be seen, for instance, that even under the worst case

scenario portrayed in the chart, trade growth in 2011 would still be positive

overall, despite the possibility of a more pronounced dent in the second

quarter. Even though risks are mostly on the downside, there is also some

upside potential if the uncertainly in the Middle East resolves itself soon and if

unemployment rates start to come down more quickly in the U.S. The latter

would release a considerable amount of pent up demand for goods, which

would stimulate imports and drive world trade higher.

The limited amount of existing research on the consequences of natural disasters for economic growth suggests that

even very large disasters generally do not have noticeable effects on output as measured by GDP, especially in the

long run. Studies dealing specifically with the trade effects of natural disasters are even rarer. The prospect of sharply

higher oil prices probably poses a greater threat to the world economy and trade than the Japanese earthquake. Fears

of a prolonged conflict in Libya and spreading unrest in the Middle East have lifted oil prices above $100/barrel. An

interruption of supplies from any other major producer would raise prices higher still, with potentially significant

implications for the global economy. In such an event, the WTO would have to revisit its trade projections.


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28

Container Trades Statistics reports that exports from Europe was generally positive in February

2011. Volumes, measured in estimated TEU dry & reefer, on all main trade routes exceeded

January 2011 and were also higher than a year ago. Imports to Europe, however, took a downward

turn with one exception: South and Central America which was up by 2.5% from 127,300TEU in January to

130,500TEU in February, and up 15.28% year-over-year. From Asia, imports were 37% down on January but the Lunar

New Year slowdown would have played some part in this. February Imports from Asia were also 12% down on a year

ago. Exports, on the other hand grew by 2.3% in February 2011 over the previous month and remained 1.6% higher

than in February 2010. European Exports to South America were up 4% on January and just under 20% year-on-year.

Exports from Europe to North America increased by 9% from 235,500TEU to 256,900TEU, but imports declined in

February 2011 over January 2011 by 0.4%. Volumes in both directions remain 4 to 5% up on a year ago.

Maersk reported to higher container freight rates and container volumes.

Container activities made a profit of $438 million compared to $169

million the previous period. The number of containers carried increased

by 5% to 1.84 million FFE, while the average freight rate of US$ 2,908

per FFE was 2% higher than the same period last year. Terminal

activities also showed a profit. Container throughput increased by 8% to 7.8m TEU. Maersk expects global demand

for seaborne containers to grow by 6-8% in 2011. The global supply of new tonnage is expected to match or grow

more than the freight volume especially on the Asia to Europe trade. Maersk expects freight rates to remain under

pressure short term, but see a stronger market in the second half year, while increased bunker and time charter

costs are expected to continue to impact margins negatively. Container activities expect a satisfactory result, but

below 2010. Outlook for 2011 is subject to considerable uncertainty, not least due to developments in the global

economy and trade. The oil price has been affected by political unrest in North Africa and Middle Eas t. The outcome

can have material impact on Maersk‘s result. (additional information on page 42)

For first quarter 2011, throughput in the Port of Rotterdam was at more or less the same last year:

107 million tonnes. In comparison with last year‘s strong and broad growth, the picture is now more

differentiated. Agribulk (+49%), other dry bulk (+20%), containers (+12%), other general cargo

(+35%) and roll on/roll off (+8%) did well. The three liquid product groups – crude oil (-1%), mineral

oil products (-18%) and other liquid bulk (-2%) - were negative. ―Heavy‖ products - iron ore (-5%)

and coal (-8%) were also down. The Port‘s CEO, Hans Smits: ―As expected, the abundant growth

is over, although 12% for containers is still striking. The forecast for this year was and is an

increase of about 2%. Taking into account traditional seasonal patterns, and on the basis of confidence on the part of

the producers and buyers, that is realistic.‖ The decrease in incoming trade in iron ore, to 9 million tonnes, is due to

high ore prices. Stocks are therefore being run down. Outgoing trade, by rail and inland shipping, remains at a good

level. Demand for coal for energy production is still under pressure from the low price of natural gas, but is recovering

thanks to reduction in generation of nuclear power. For the time being, stocks at the terminals are being drawn on.

There was a sharp increase in handling of other dry bulk (minerals, building materials, biomass), to 3.4 million tonnes.

Demand from the metal industry continues to rise, supposedly for production of export goods. We need not assume an

increase in demand from construction sector year. 2.2 million tonnes of agribulk were shipped in, way up on 2010.

Incoming trade in crude oil was down 340,000mts (two medium-sized tankers), to 24.4 million tonnes. Throughput of

mineral oil products fell by 3 million tonnes - mainly fuel oil and gas oil/diesel. These come from Russia, via the Baltic,

where extremely harsh winter seriously obstructed shipping traffic and probably had an influence on exports to

Rotterdam. Other liquid bulk (chemical basic products, biofuels, vegetable oils & fats, fruit juices) fell slightly, by over

100,000mt to just under 8 million tonnes. The chemical industry continues to operate at a good level and exports were

even up a little. Ethanol throughput remains constant and biodiesel continued the slightly downward trend of 2010.

Vegetable oil seems comparable to 2010, restrained slightly by the high price of palm oil. Companies are not buying

more than necessary. Container throughput continued the rising trend of 2010: up by more than 3 million tonnes to 29.8

million tonnes. Measured in TEUs, the growth was substantial: 10% to 2.9 million TEU. This healthy state of affairs was

largely attributable to traffic with Asia. Intra-European traffic is recovering slowly due to cautious growth of the British

economy. The harsh Baltic winter also hampered container traffic with Russia and, due to the high ship‘s costs (fuel oil

& chartering), a few services abandoned the longer Rotterdam route. Nevertheless, Russia remains a growth market.

Roll on/roll off traffic, which focuses almost completely on England, is being buoyed up by improving economics in the

UK: over 300,000 tonnes more, to 4.4 million tonnes. Other general cargo finally hit the jackpot again with an increase

of 0.5 million tonnes to 1.9 million.


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DP World reported in their latest Annual Report that 2010 saw a return to volume

growth across almost all their terminals, albeit with different growth rates across

regions. DP World saw both rapid recovery in global trade in those markets most

affected by the decline in container volumes in 2009, and a return to more modest

growth in those markets which showed resilience during 2009. Almost all of their

container terminals around the world are back at or ahead of volumes last seen in 2008 which was a peak year for the

global container terminal industry. Full year reported revenue for DP World‘s consolidated portfolio in 2010 was $3,078

million, 9% ahead of last year as a result of the 9% increase in container volumes, improved container revenue per

TEU and a return to growth of non-container revenue. EBITDA increased 16% to $1,240 million with EBITDA margins

of 40.3%, an improvement from 38.0% for the same period last year. Profit before tax of $503 million and profit after tax

of $450 million are 30% and 35% ahead of the prior year respectively. Europe, Middle East and Africa region, reported

a better performance in the second half of 2010 than in the first half, with signs of a recovery in both ancillary (mainly

storage) revenue and non-container revenue resulting in full year revenue in line with 2009. A continuing focus on costs

drove EBITDA up 4% to $793 million. The Asia Pacific and Indian Subcontinent region reported results were impacted

positively by a full year contribution from a new terminal in Saigon, Vietnam which opened at the end of 2009, and

negatively from the revenue adjustment following the transfer of ATI Manila, Philippines from being a consolidated

terminal to the joint venture portfolio in the fourth quarter of 2009. Excluding these major changes, like for like revenue,

at constant currency, was 16% higher as a result of like for like volumes growing 10% and an increase in revenue per

TEU. This increase in revenue, in combination with cost reductions and a substantial increase in the contributions from

joint ventures and associates resulted in like for like EBITDA at constant currency increasing 22%. The Australia and

Americas region has rebounded strongly from the challenging environment in 2009 delivering growth over both 2009

and 2008. DP‘s new development in Callao (Peru) opened at the end of the first half of 2010, contributing to the results

for this region for the first time. The reported results have benefitted significantly from the strengthening Australian

dollar against the US dollar. Revenue from consolidated terminals increased 47% to $875 million following a volume

growth of 35% in the region. Like for like revenue at constant currency was 29% higher as a result of the 23% increase

in volume in the region and higher container revenue per TEU and a significant increase in non-container revenues.

EBITDA was $271 million, almost double the prior year and, on a like for like basis at constant currency was 69%

ahead of the prior year.

PSA International Pte Ltd. posted a throughput increase of 14.4% in 2010 over a relatively

low base in the previous year. The total PSA Group volume from port projects around the

world totaled a record 65.12 million TEUs. The PSA flagship in Singapore handled 27.68

million TEUs and registered growth of 10.1% to secure Singapore‗s position as the second

largest container port in the world. PSA terminals outside of Singapore recorded combined

volumes of 37.44 million TEUs over the same period, 17.8% stronger than in 2009, on the

back of improving world economies. In tandem with volume growth, PSA Group revenue rose to S$4.08 billion while net

profit grew by 20.8% to S$1.18 billion, made possible by more favorable business conditions and judicious cost

management. ―The world economies were greeted with caution and uncertainty as they entered 2010 but in the course

of the year the global economic recovery and growth in trade flows turned out to be much stronger than expected. Our

customers have performed exceedingly well and their stellar output helped PSA achieve a record Group volume of

65.12 million TEUs…. Some analysts and economists have high expectations for 2011, believing that global economic

recovery is now on a solid foundation. I hope they are right though I continue to be bothered by the lingering economic

problems in the developed countries and the unfolding of a slowdown in China. PSA must therefore continue to remain

very vigilant and focused so that we can be prepared for any challenges and seize any opportunities that come,‖

commented Mr. Fock Siew Wah, Group Chairman.

As of 30th April 2011, the Great Lakes St. Lawrence Seaway System reported combined

total traffic for Montreal/Lake Ontario and Welland Canal was down 8.9% from 3,689

thousand to 3,359 thousand tonnes for the 2011 year-to-date compared to the same 2010

period. Most of the reduction was in iron ore, which was down from 1,464 thousand tonnes

to 699 thousand tonnes. This was partially offset by other bulk cargoes which were up

from 986 thousand to 1,365 thousand tonnes.


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The U.S. real gross domestic product -- output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.8% in the first quarter of 2011 from the fourth quarter to the first

quarter according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 3.1%. Increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures, private inventory investment, exports, and nonresidential fixed investment that were partly offset by negative contributions from federal government spending and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased. Deceleration in real GDP in the first quarter primarily reflected a sharp upturn in imports, a

deceleration in personal consumption, a larger decrease in federal government spending, and decelerations in nonresidential fixed investment and in exports that were partly offset by a sharp upturn in private inventory investment. Total March exports of $172.7 billion and imports of $220.8 billion resulted in a goods and services deficit of $48.2 billion, up from $45.4 billion in February, revised. March exports were $7.7 billion more than February exports of $165.0 billion. March imports were $10.4 billion more than February imports of $210.4 billion.

Total container traffic at The Port of Seattle is up 7.7% to 484,551TEUs as of the end of March with most of the

increase in both full (+14.4%) and empty (22.3%) international outbound containers…. Year-to-date total container

statistics at the nearby Port of Tacoma were up 8.8% to 352,189TEUs

with foreign up 13.8% and domestic down 0.8%. Logs were up 464.6%,

but that was from a mere 24.337 tons in 2010 to 137,417 tons in 2011.

Breakbulk was up 83.3% and autos up 61.1% also from low tonnages

compared to pre-crisis figures…. The Port of Long Beach showed

improving year-to-date figures in containers for their Fiscal Year 2011

(1st October – 30

th September) with a total 15.5% improvement over FY

2010 YTD. 22.9% of the change was in empties. Total tonnages in and

outbound were only up 1.1% in the first three calendar months of 2011

compared to 2010. Total general cargo was up 4.5%, total petro/liquid

bulk cargoes down 11.6% and total drybulk up 15.3%.... Total container

counts at the Port of Los Angeles were up 9.19% to 600,796TEUs over

2010 to-date. The Port Authority of New York and New Jersey handled 1,026,972TEUs through March 2011, up

12.0% from 2010.

The amount of freight carried in the United States by the for-hire transportation industry declined 1.5% in February from

January, falling after two consecutive monthly increases, according to the U.S. Department of Transportation‘s Bureau

of Transportation Statistics‘ (BTS) Freight Transportation Services Index (TSI) released. BTS, a part of the

Research and Innovative Technology Administration, reported that shipments measured by the Freight TSI rose 12.9%

over the last 22 months, starting in May 2009, after declining 15.7% in the

previous 16 months beginning in January 2008. Freight shipments have

increased in 16 of the last 22 months. In February 2011, freight shipments

were at about the same level as in September 2008 when the amount of

freight was early in the decline. The Freight TSI measures the month-to-

month changes in freight shipments in ton-miles, which are then

combined into one index. The index measures the output of the for-hire

freight transportation industry and consists of data from for-hire trucking,

rail, inland waterways, pipelines and air freight. For the first two months of

2011, freight shipments measured by the index were down 0.6%, trending

down following a 6.4% rise in freight shipments for the full year 2010 and

a 2.1% rise in during the final three months of 2010. Freight shipments in

February (106.5 on the index) rose 12.9%, from the recent low in April

2009 (94.3). In April, freight shipments were at their lowest level since July 1997. The February level is down from the

historic freight shipment peak reached in January 2005 (113.3) Although freight shipments rose 4.1% from February

2010 to February 2011, they remain below the recent high for the month of February (111.6) reached in 2008.

December 2009 was the first month since September 2008 in which shipments measured by the Freight TSI exceeded

the level of the same month of the previous year. Since then, shipments have exceeded the previous year‘s level every

month but still remains below the level of years before the most recent year.


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The Association of American Railroads on 2nd

May reported that U.S. rail carloads in April 2011

decreased 0.2 percent compared with the same month last year, to 1,177,277 carloads. According to

AAR‘s monthly ―Rail Time Indicators‖ report, intermodal traffic in April increased 9% compared with

April 2010 to 914,518 trailers & containers. On a seasonally adjusted basis, carloads were down

2.5% and intermodal traffic was up 1.2% compared with March 2011. ―April‘s carload decline is the

first year-over-year monthly decline since February 2010,‖ said AAR Senior VP John Gray. ―April

2010 was a relatively strong month and therefore a difficult comparison, and coal traffic was down for

the first time since July 2010. April‘s carload decline was offset by continued intermodal growth. Rail

traffic deserves a close watch over the next several months because it‘s a useful gauge of the

strength of the economy.‖ Overall, nine of 20 commodity categories saw carload gains on U.S. railroads in April 2011

compared with April 2010. Traffic gains were led by grain, up 13.6% (11,377 carloads); metallic ores, up 19.4% (5,005

carloads), and motor vehicle and parts, up 9.6% (4,713 carloads). Coal carloads were down 2.9% (15,225 carloads).

Other commodity groups with carload declines included crushed stone, sand, and gravel, down 5.6% (4,203 carloads);

waste and nonferrous scrap, down 14.2% (2,140 carloads), and primary forest

products, down 26.4% (1,910 carloads). Despite the mixed results this month, there

are still positive signs of growth. Year-over-year chemical carloads have risen for

18 straight months. In addition, cumulative volume for the first four months of the

year is also positive with U.S. rail carloads up 3.8% (180,791 carloads) and

intermodal loadings up 8.8% (304,702 trailers & containers) compared with the

same period in 2010. Intermodal loadings in April 2011 averaged 228,630 units, the

second highest average for any April in history, behind only April 2006. As of May 1,

2011, 276,228 freight cars, or 18.2% of the fleet, were in storage. This represents a

decrease of 7,421 cars from April 1, 2011.

Under U.S. law, vessel operators must report domestic waterborne

commercial movements to the U.S. Army Corps of Engineers.

Vessel types include dry cargo ships & tankers, barges (loaded &

empty), towboats (with or without barges), tug, crew & supply boats

to offshore locations and new vessels from shipyards to point of

delivery. Vessels idle are also reported. Although most of the

figures relate to the inland river system and pushboats vs. tugs, it

provides a good indicator of trade. April 2011‘s 38.5 million tons of

all commodities moved on internal U.S. Waterways was higher

than the 37.0 million tons at the time of our February report, but

lower than March 2011 and the lowest since April 2009. Cargoes

are still being impacted by rising water levels on the inland river

system following heavy spring rains and a heavy winter snowfall.

Some smaller rivers feeding the swollen Mississippi actually reversed flow as ―Ole Miss‖ crested. Widespread flooding

has not only slowed, but sometimes stopped freight transport, forced major evacuations of low-lying areas and

disrupted refinery operations. Parts of the Mississippi River were temporarily closed to commercial traffic by the U.S.

Coast Guard and Army Corps of Engineers. Even where the

river remained open, vessels are operating at slower speeds

with fewer barges to avoid wakes from further damaging or

topping already weakened levees and flood walls. Some

operators are tying up many boats and barges until waters

recede. It is not just towboat and barge transportation

affected by the rising waters. One oil tanker bound for

Exxon Mobil‘s refinery in Baton Rouge, Louisiana turned

back because of concerns of the pilot and ship‘s master

about clearance under the Interstate 10 bridge. The tonnage

of Petroleum and Chemicals moved on internal U.S.

waterways was 18.0 million tons in April, down from 19.2

million the previous month and down from 18.3 million in

April 2010. Coal and Coke, at 12.6 million tons, was also

down over the same periods.


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Historical Bunker Prices (MGO)

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Fujairah (MGO) Houston (MDO) Rotterdam (MGO) Singapore (MGO)

Credit: www.bunkerworld.com

Bunker Prices Worldwide When I look at the graph of Historical Bunker Prices, I immediately

think of the song ―Climb Every Mountain‖ from the ―Sound of

Music‖. Prices definitely are climbing and it is not music to the ears

of owners having to top off the fuel tanks of their tugs. Average

April MDO prices in Houston were US$ 1,031.50/mt up 14% from

US$ 904.50 in February (MGO US$ 1,021.50 vs. US$ 895.00).

Average MGO prices for the month of April 2011 were US$

1,038.00/mt in Fujairah, US$ 1,257.50 in Rotterdam and US$

1,031.00 in Singapore – all up from US$ 949.00/mt, US$ 878.50

and US$ 877.00 at the time of the last tug market report. On the

U.S. West Coast as of 6th May 2011, average prices for ultra-low

sulfur diesel fuel (OPIS contract plus 3 cents per gallon) were US$

3.45 in Seattle (up from $2.98 at time of last report in February

2010), US$ 3.45 in Portland ($3.00), US$ 3.43 in San Francisco

($3.03), US$ 3.40 in Los Angeles / Long Beach ($3.02) and US$

3.42 in San Diego ($2.50) – and still climbing.

According to the International Energy Agency’s 12th April 2011 ―Oil Market Report‖, crude

prices jumped 10-15% in March, as outages from Libya and mounting unrest in the Middle

East and North Africa (MENA) offset a seasonal drop in refinery runs. As of 12th April, Brent

futures stood near $126/bbl, with WTI at $112/bbl. Refining margins, notably for light,

distillate-rich grades, remained weak as crude price gains outstripped those for products.

Crude prices did fall for a short period of time to under US$ 100/bbl, but rebounded before

anyone except traders could take advantage. Expect to read almost daily headlines of ―Oil

Drops From Three-Day High‖, ―Oil Settles Above $103/Barrel‖, ―Crude Oil Futures Halt Two-

Day Advance On .(fill in your latest reason)‖ from Bloomberg, Barrons and others as the price of crude prices

practically continue to vibrate – but plan on both budgeting for higher fuel costs and continuing to economize. The U.S.

Energy Information Administration in their 10th May ―Short-Term Energy Outlook‖ reported West Texas Intermediate

(WTI) crude oil spot prices averaged $89/bbl in February, $103/bbl in March, and $110/bbl in April. During the first

week of May WTI crude oil prices fell by nearly $17/bbl to $97/bbl, along with a broad set of commodities, and then

rebounded by almost $6/bbl on 9th May. However, the EIA still expects oil markets to continue tighten through 2012

given projected world oil demand growth and slowing growth in supply from countries that are not members of OPEC.

Projected WTI spot prices average $103/bbl in 2011 and $107/bbl in 2012, reductions of about $4 and $6/bbl

respectively from last month‘s ―Outlook‖. Among major uncertainties that could push oil prices above or below the

current forecast are continued unrest in producing countries and potential impact on supply; decisions by key OPEC-

member countries regarding production in response to the global increase in oil demand; rate of economic growth, both

domestically and globally; fiscal issues facing national and sub-national governments; and China's efforts to address

concerns regarding its growth and inflation. Energy price forecasts tend to be highly uncertain. WTI futures for July

2011 delivery over the 5-day period ending May 5 averaged $110/bbl and implied volatility averaged 29%, establishing

the lower and upper limits of a 95% confidence interval for the market's expectations of monthly average WTI prices in

July of $91/bbl and $133/bbl, respectively. Last year at this time, WTI for July 2010 delivery averaged $83/bbl and

implied volatility averaged 33%. The corresponding lower and upper

limits of the 95% confidence interval were $67/bbl and $103/bbl. Based

on WTI futures and options prices, the probability that the monthly

average price of WTI crude oil will exceed $120/bbl in December 2011

is about 31%. Conversely, the probability that the monthly average

December 2011 WTI price will fall below $90/bbl is about 21%. Odds

are therefore that tug operators will be paying more for their fuel,

whether it be MGO or MDO by the end of the year. As an example, Kirby

Corporation of Houston, Texas noted that diesel fuel prices for their 230

towboats operated during the 2011 first quarter increased 24%

compared with the 2010 first quarter


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33

Recent News – North America Resolve Marine Group of Fort Lauderdale, Florida has acquired the 102 tonnes bollard pull tug ―Resolve Suhaili‖ (ex-

Suhaili). Previously owned by ITC Towage, the ocean towage and salvage tug is presently located in Freeport,

Bahamas where she has been standing by on salvage station. Damian Allan, Resolve‘s Director of Business

Development, announced the acquisition, stating ―‘Resolve Suhaili‘

is a great asset for our fleet worldwide. She will complement and

support our core activities in the areas of salvage, wreck removal

and emergency towage.‖ As an OPA-90 salvage & Marine

firefighting primary resource provider, Resolve maintains salvage

and emergency response vessels and equipment in 16 operations

bases in the U.S., as well as in Singapore, the U.K., Mumbai and

Shanghai. The Panamanian registered ―Resolve Suhaili‖ is one of

the noted ITC Towage‘s 55.0m x 11.7m x 5.2m depth ―S-Wind

Class‖ ocean towage and salvage tugs built in 1977 by Matsurra Tekko Zosen K.K. in Higashino, Japan. Powered by

twin Fuji 16V27.5X-G 4-stroke (Pielstick type) diesels driving fixed pitch props in kort nozzles, the ABS +A1 (E) Towing,

+AMS classed tugs have a bollard pull of 102 tonnes and a free running speed of 13.5kn. Towing gear consists of a

double drum 110 tonne brake with a minimum rated pull of 40 tonnes, 1,000 / 1,200m of 58m wire and pennants,

shackles, fishplates, etc. certified and in accordance with the tug‘s bollard pull. All of the ―S-Wind‖ tugs have a full range

of salvage equipment on board including diesel and electrical submersible pumps, suction & discharge hoses, welding,

cutting & patching equipment, diving gear, workboats, etc. Two weeks later, ownership of ITC Towage’s sister-tug

―Simoon‖ was transferred to the Greek owners Fournarakis Bros. and will continue its operations by Diavlos

Pantanassa Inc. / Diavalos Salvage & Towage Ltd. under the name S/T ―Panormitis‖. (see page 41). We wish both

vessels and their crew members a fortunate and safe sailing. ―Suhaili‖ and ―Simoon‖ were the third and fifth ocean tug

built by Matsuura Tekko, Higashino, Japan and delivered to ITC in 1977 out of totally six identical tugs, under yard

number 259 and 262. The 8,440BHP, 13,000IHP, 102 tons bollard pull tugs were ranked at that time among the most

powerful tugs. ―Sirocco‖ and ―Sumatras‖ are still operating under the ITC flag. ―Solano‖ is now sailing under the name of

―Karar‖ and still being managed by ITC. ―Shamal‖ was sold in 1998 to Boluda, Spain and renamed ―VB Artico‖. ITC is

proud that all six sisters are still trading. A seventh tug, almost similar but no sister vessel, named ―Santania‖ (built

originally as the ―Shoei Maru No. 82‖, now named ―V.B. Antarctico‖ (ex-V.B. Indico)) joined the ITC fleet in 1978.

Following a fire in the engine room, also this tug was sold to the Spanish tug operator Boluda. Both ―Suhaili‖ and

―Simoon‖ chalked up a large number of noteworthy jobs during their ITC careers.

Signet Maritime Corporation of Houston, Texas completed the

successful completion of transportation, delivery and loadout of

two mat supported Jackup rigs. Signet provided full turnkey

operations for the movement of the ―Rubicone H-191‖ from

Sabine, Texas to Kiewit Offshore Services, Ingleside, Texas.

The ―Signet Enterprise‖ with 4,400BHP, 62.6mt bollard pull

ahead, 53.5mt bollard pull astern and the ―Signet Intrepid‖ with

4,400BHP, 60.3mt bollard pull ahead, 54.7mt bollard pull astern,

were the primary towing tugs for the project. The ocean tow was

accomplished flawlessly in four days. ―The towing speed at 3.8

knots was excellent given the time of year and sea conditions,‖

commented Jackie Yardley, Signet Maritime‘s Senior Manager of Global Traffic & Rig Transport. Complete marine

services were also provided for the movement and delivery of the ―Veer Prem‖ mat supported Jackup rig, from

Galveston, Texas to Kiewit Offshore Services, Ingleside, Texas. Signet once again deployed their flagship vessels, the

―Signet Enterprise‖ and ―Signet Intrepid‖, along with the support tail boat ―Santa Rosa‖. Upon arrival at the Aransas Sea

Buoy, Signet utilized additional vessels from their fleet to provide inbound assistance and loadout services onto the

Heavy Lift Vessel (HLV) at Kiewit Offshore Services for both transportation projects. Once the rig arrived at the Aransas

Sea Buoy, two additional Signet tugs, ―Signet Challenger‖ and ―Signet Volunteer‖ arrived to assist the rig to Kiewit. After

delivery of ―Rubicone‖ to Kiewit, Signet provided ―Signet Columbia‖ and ―Signet Freedom‖ in conjunction with the four

Signet ASDs to load the rig onto the HLV. As an integral part of the Work Scope, upon completion of loadout, Signet

provided cribbing and sea-fastening for ―Veer Prem‖ as well as providing the necessary support tugs to escort the

loaded HLV to sea. Major Project Risk Assessment and constant direct weather forecasting were provided throughout

the duration of both projects.


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34

Foss Maritime of Seattle, reports that a three-month shutdown of Columbia-Snake river system locks for maintenance and repairs at eight dams ended in late March, clearing the way for Foss to resume towing huge and complex oil production modules from Vancouver, Washington to Lewiston, Idaho. The two tugs assigned to the job, the 3,000HP, 75‘ x 31‘ inland river pushboat ―P.J. Brix‖ and 2,600HP, 76‘ x 26‘ twin screw ―Betsy L‖ were overhauled, tested and made ready to start up again the end of last month. The two specially-outfitted barges being used on the job also underwent extensive preparation work, including checking and restoring their ballast systems and outfitting with new lashing materials and other gear. The job, which started last October, involves hauling Korean-built modules in about 22 single barge and tandem-tow trips up river to Lewiston for over-the-road transport to the Kearl Oil Sands development project near Fort McMurray, Alberta, Canada. Exxon Mobile Canada and Imperial Oil are the developers. Foss had completed three tandem tows and one single-barge trip when the project was suspended in December for the dam closure. The job is expected to be completed by September. The modules

are being marshaled in Lewiston for the over-the-road portion of the trip. On March 21

st, a mock-up that approximates the size of the largest module was towed out of

Lewiston to test the viability of the highway trip. The mockup measures 118‘ long, 19‘ wide, 26‘ high and weighs about 75 tons, about half the weight of the real thing. The lower weight allowed less stringent road restrictions during the test. During the dam shutdown, the azimuthing-drive on the ―P.J. Brix‖ was re-built and the ―Betsy L‘s‖ engines were overhauled. On the tandem tows, the ―Betsy L‖ (photo at left) is in the lead, acting as the eyes for the pusher tug ―P.J. Brix‖, whose vision is inhibited by the tall cargo. The trip from Vancouver to Lewiston takes about three days,

depending on dam spillage and weather, including heavy fog that can settle in the valleys…. A new eight-car ferry was loaded onto a Foss barge in Bremerton, Wash., on 12

th December and later was towed to San Francisco Bay by the

tug Sidney Foss. Nichols Brothers Boat Builders in Freeland, Wash., built the 88‘ long ferry ―Real McCoy II‖ for Caltrans, the state of California‘s transportation agency. It will replace an aging boat carrying vehicles across the Sacramento River, between Rio Vista and Ryer Island. The ferry was towed about 40 miles south from Freeland for the lift because a high-capacity crane operated by Manson Construction of Seattle was available in Bremerton, where it was assigned to a bridge construction project. The ferry weighs about 185 short tons. After the lift in Bremerton, the ferry atop the barge ―Foss 185 C-3‖ was towed back to Freeland where final preparations were made for the trip to San Francisco Bay. The ferry was too small to make the ocean voyage on its own, mainly because it has only about three feet of freeboard…. The 8,000HP ―Lauren Foss‖ spent a busy winter in Mexico, contending with tough weather conditions while ferrying construction modules to

an offshore oil production platform for Naviera Armamex who was working for offshore contractor Grupo Protexa.

―This is a bright spot for us in the Gulf,‖ said Mike Lauer, manager of business development for Foss Global Services. ―The (Deepwater Horizon) spill cleanup is over and drilling hasn‘t commenced again. It‘s just a very depressed market in the U.S. Gulf and we were lucky to get into a project in Mexico and put a boat and our guys to work.‖ The ―Lauren

Foss‖ is mainly towing jackets and topsides on a 300‘ x 100‘ barge from the Port of Tampico on Mexico‘s east coast about 200 nautical miles offshore to the deepwater construction ship ―Huasteco‖. The 150‘ x 40‘ ―Lauren Foss‖ and her twin, the ―Corbin Foss‖, worked on a similar project in Mexico for a different customer in the winter of 2010. Lauer said the current project began on 9

th December and has been

delayed numerous times by bad weather, forcing the ―Lauren Foss‖ to moor alongside the ship or to seek shelter at the port of Dos Bocas, on the northwestern shore of the Yucatan Peninsula. ―It‘s relatively shallow and the sea can get steep and close together,‖ Lauer said. ―It often happens in a hurry.‖ The tows were expected to be completed by mid-March 2011. ―Lauren Foss‖ (ex-Sun Quest, ex-Odyssea Quest, ex-Deborah W) began her days on the West Coast as one of two

sister-tug hulls started in 1984 by Marine Power & Equipment of Seattle to tow 480‘ x 105‘ triple deck ro/ro barges from Seattle to Alaska. After the market fell apart in the 80‘s recession, the hulls were sold by the bank first to K Corp., then to Halter / Trinity Marine Group who sold them to Odyssea Marine of Houston before being bought by Sun Towing of Berwick, Louisiana. The tugboats were finally completed in early 2003, after which they were acquired by Foss.


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35

Seacor Holdings Inc.’s net income for first quarter 2011 was

US$ 11.2 million on operating revenues of $472.3 million

compared to $580.4 million for the proceeding quarter. Net

income was US$ 3.6 million on operating revenues of $394.6

million for the quarter ended 31st March 2010.

Offshore Marine Services reported an operating loss of $2.6 million on operating revenues of $80.3 million compared

with operating income of $0.9 million on operating revenues of $100.6 million in the preceding quarter. First quarter

results included $4.4 million in gains on asset dispositions compared with $2.1 million in gains in the preceding quarter.

In the U.S. Gulf of Mexico, operating income was $3.0 million lower than the preceding quarter primarily due to

continued soft market conditions attributable to the ongoing slow down in the issuance of drilling permits by the Bureau

of Ocean Energy Management. In the first quarter, utilization was 40.5% compared with 50.4% in the preceding

quarter. Average day rates decreased from $11,669 per day to $9,898 per day. The number of days available for hire

decreased by 819, or 16%, due to net fleet dispositions including the return of six vessels to leasing companies during

the preceding quarter. As of March 31, 2011, Seacor had twelve vessels cold-stacked in the U.S. Gulf of Mexico,

compared with 13 as of December 31, 2010. Operating income associated with international operations was $0.5

million lower than the preceding quarter primarily due to net fleet dispositions and increased drydocking and repair

activity in the North Sea. In the first quarter, the total number of days available for charter decreased by 918, or 7.8%,

primarily due to net fleet dispositions, overall utilization decreased from 68.5% to 65.1% and overall average day rates

decreased by 4.9% from $10,646 per day to $10,123 per day.

Marine Transportation Services operating income was $1.9

million on operating revenues of $17.3 million compared with

operating income of $1.4 million on operating revenues of

$16.9 million in the preceding quarter. The improvement in

operating income was primarily due to a reduction in out-of-

service time for one vessel and lower insurance and legal

expenses. Harbor and Offshore Towing Services, reported

operating income of $3.5 million on operating revenues of

$17.5 million compared with an operating loss of $0.8 million

on operating revenues of $16.4 million in the preceding

quarter. The improvement in operating income was primarily

due to increased harbor activity at most ports and lower expenses following return of two leased-in tugs. These

increases were partially offset by lower outside harbor towing activity. The driver for Seacor‘s Harbor and Offshore

Services is primarily ship calls at the ports they service. Although these ports support container and dry bulk traffic,

tankers account for 45% of their local moves. Seacor also supports a bunkering operation in St. Eustatius and are 1.5

years into a ten-year contract. This activity employs five modern barges and four modern tugs that accounted for

slightly more than 40% of the towing group‘s net property and equipment at 2010 year-end.

Seacor‘s unfunded capital commitments as of March 31, 2011 consisted

primarily of offshore support vessels, helicopters, an interest in the

10,876BHP, 34,000dwt dry-bulk articulated tug-barge ―Ken Boothe, Sr.‖ /

―Seajon Enterprise‖ reported in February‘s Tug Market Report, an

interest in a river grain terminal and other equipment. These

commitments totaled $244.6 million, of which $164.8 million is payable

during the remainder of 2011 with the balance payable through 2013. Of

the total unfunded capital commitments, $2.8 million may be terminated

without further liability. Subsequent to March 31, 2011, Seacor Holdings

committed to purchase additional equipment for $2.5 million. As of March

31, 2011, Seacor held balances of cash, cash equivalents, restricted

cash, marketable securities, construction reserve funds and title XI

reserve funds totaling $910.0 million.


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Hornbeck Offshore Services’ first quarter 2011 revenues decreased 16.1% to $72.3 million

compared to $86.2 million for first quarter 2010 and decreased 25.7% compared to $97.3 million for

fourth quarter 2010. Operating income was $0.7 million, or 1.0% of revenues, for first quarter 2011

compared to $15.7 million, or 18.2% of revenues, for the prior-year quarter; and $18.7 million, or 19.2%

of revenues, for fourth quarter 2010. Hornbeck recorded a net loss for first quarter 2011 of $9.0 million

compared to net income of $2.6 million for the year-ago quarter; and net income of $2.6 million for

fourth quarter 2010. Included in first quarter 2011 results was a $0.6 million gain on sale of Hornbeck‘s last four

remaining single-hulled tank barges for net cash proceeds of $2.1 million.

Hornbeck operates two business segments in the marine industry. The Upstream segment owns and operates a young

fleet of new-generation OSVs and the Downstream segment owns and operates a fleet of ocean-going tugs and

double-hull tank barges that transport petroleum products, primarily in the northeastern United States and Gulf of

Mexico. The largest domestic tank barge market is on the East Coast. The largest tank barge market in the

northeastern United States is New York Harbor. Petroleum products are transported in the northeastern U.S. through a

vast network of terminals, tankers and pipelines. Imported petroleum products are primarily delivered to New York

Harbor as it has the capacity to receive products in cargo lots of 50,000 tons or more per tanker. By contrast, draft

limitations in most New England ports and drawbridge limitations in Boston, Massachusetts and Portland, Maine limit

the average cargo-carrying capacity of direct imports into many of the largest New England ports to about 30,000 tons

per tanker. As larger petroleum tankers are being built, Hornbeck believes that direct delivery into New York Harbor

favorably impacted tank barge demand for lightering services and further shipment to New England, Hudson River and

Long Island. When analyzing the competitive landscape, Hornbeck considers the blue-water, short-haul niche within

the East Coast market to be Hornbeck‘s primary operating domain. In defining the East Coast, Hornbeck includes the

entire Atlantic seaboard from northeastern U.S. to Florida, the Gulf of Mexico region, Puerto Rico and the Great Lakes.

The total barrel capacity of all short-haul competitors either headquartered or currently operating the majority of their

vessels within the East Coast market is fairly evenly distributed among seven companies that own about 90% of the

short-haul fleet; including the barrels that Hornbeck transports. Competitors in Hornbeck‘s market niche are primarily

comprised of well-established, multi-generational, family-owned businesses, with only two publicly traded companies,

including Hornbeck, having a critical mass of coastwise barges in the range of 50 - 150,000 bbls.

Revenues from the Downstream / tug & barge segment of $10.9 million for the first quarter of 2011 increased by $1.3

million, or 13.5%, compared to $9.6 million for the same period in 2010, but were lower than the sequential quarter by

$1.0 million, or 8.4%. The year-over-year revenue increase was largely due to fewer days out-of-service for regulatory

drydockings during the first quarter of 2011 and, to a lesser extent, a slight improvement in Northeast market

conditions. Hornbeck‘s double-hulled tank barge average dayrates were $16,377 for the first quarter of 2011 compared

to $15,816 for the same period in 2010 and $16,782 for the sequential quarter. Utilization for the double-hulled tank

barge fleet was 82.3% for the first quarter of 2011 compared to 75.1% for the year-ago quarter and 85.6% for the

sequential quarter. The sequential decline in Downstream revenues, dayrates and utilization are largely due to the

conclusion of oil spill response efforts in the Gulf of Mexico during the fourth quarter of 2010.

Hornbeck Tug & Tank Barge Quarterly Utilization and Day Rates 2011 2010 2009 2008

31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 31-Dec

No. Tank Barges 9 9 9 9 9 9 9 19.8 20 21

Fleet Cap. (k bbl) 884.6 884.6 884.6 884.6 884.6 884.6 884.6 1,616.0 1,633.4 1,745.3

Barge Size (bbl) 98,291 98,291 98,291 98,291 98,291 98,291 98,291 81,430 81,671 83,107

Utilization 82.3% 85.60% 86.90% 74.20% 75.10% 71.50% 67.60% 44.30% 56.70% 59.40%

Avg. Dayrate $16,377 $16,782 $18,615 $18,708 $15,816 $16,210 $28,503 $17,784 $18,695 $18,507 Note: As of 9/30/09, above only includes the double-hulled tank barges. All single-hulled tank barges have been stacked and excluded from above computations.

As of March 31, 2011, Hornbeck‘s Downstream fleet was comprised of nine double-hulled tank barges and 15 ocean-

going tugs, six of which are older, lower horsepower tugs that were stacked. Although Downstream results for the first

quarter improved slightly from the prior year, demand continues to be weak compared to historical trends. Hornbeck

anticipates that the current market conditions for Hornbeck‘s Downstream vessels will continue throughout 2011. With

the protracted weak demand for tugs and tank barges coupled with the expansion of the Upstream fleet, Hornbeck

expects their Downstream segment to continue to represent a much smaller portion of our consolidated operating

results compared to historical trends.


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37

Kirby Corporation of Houston, TX net earnings for first quarter ended 31 March 2011

was $32.4 million compared with $24.7 million for the 2010 first quarter. The 2010 first

quarter net earnings included a charge for retirements and shore staff reductions of $4.1

million before taxes. Consolidated revenues for the 2011 first quarter were $299.4 million

compared with $268.3 million reported for the 2010 first quarter.

Joe Pyne, Kirby‘s CEO commented, ―Both marine transportation and diesel engine services businesses improved

during the quarter compared with the majority of 2010 quarters. Our strong balance sheet allowed us to take advantage

of acquisition opportunities which expanded both marine transportation and diesel engine services footprints.‖

For the 2011 first quarter, 81% of Kirby‘s revenue was generated by its marine transportation segment. The segment‘s

customers include many of the major petrochemical and refining companies that operate in the United States. Products

transported include raw materials for many of the end products used widely by businesses and consumers – plastics,

fiber, paints, detergents, oil additives and paper, among others. Consequently, Kirby‘s business tends to mirror the

general performance of the U.S. economy and volumes produced by Kirby‘s customer base. Marine transportation

revenues and operating income for the 2011 first quarter increased 10% and 25%, respectively, compared with the

2010 first quarter. Kirby‘s marine transportation segment consists of transport by United States flag vessels on the U.S.

inland waterway system and, to a lesser extent, offshore transportation of dry-bulk cargoes. The principal products

transported on the U.S. inland waterways include petrochemicals, black oil

products, refined petroleum products and agricultural chemicals. Demand levels for

the petrochemical tank barge fleet continued to improve during the 2011 first

quarter. Low natural gas prices, a basic feedstock used by many customers,

continued to positively impact the global competitiveness of the U.S. petrochemical

industry. Black oil products demand levels also remained strong, driven by refinery

maintenance and the exportation of diesel fuel and heavy fuel oils. During the 2011

first quarter, tank barge utilization for petrochemical and black oil products fleets

moved into the low 90% levels. Diesel fuel prices for the 2011 first quarter

increased 24% compared with the 2010 first quarter, positively impacting marine

transportation revenues since fuel price increases are covered by fuel escalation

and de-escalation clauses in term contracts. The marine transportation segment‘s

2011 first quarter operating margin was 21.8% compared with 19.3% for the first

quarter of 2010. The higher margin reflected improved petrochemical and black oil

products demand and equipment utilization levels, modestly higher term and spot contract pricing, and the positive

impact of cost reduction initiatives. These were partially offset by the cost impact of rising diesel fuel prices and

increased delay days from more difficult winter weather operating conditions and lock delays. During the 2011 first

quarter, approx. 75% of the marine transportation revenues were under term contracts and 25% were spot contract

revenues. Time charters, which insulate Kirby from revenue fluctuations caused by weather and navigational delays

and temporary market declines, represented 56% of revenues under term contracts during the 2011 first quarter

compared with 49% during the 2010 first quarter. Term contract rates renewed in the 2011 first quarter increased an

average of 2% to 4% compared with term contract rate renewals in first quarter of 2010. Spot contract rates, which

include the cost of fuel, increased an average of 5% to 7% compared with the 2010 fourth quarter.

Commenting on the 2011 second quarter and full year market outlook and guidance, Mr. Pyne said, ―Our earnings

guidance for the 2011 second quarter is $.67 to $.77 per share, reflecting a 24% to 43% increase compared with $.54

per share reported for the 2010 second quarter. This guidance range is larger than we typically give for a quarter.

However, we currently have high water and lock issues on the Ohio River with the Ohio River north of Paducah closed

for inbound and outbound traffic. These high water conditions will make their way into the Mississippi River,

exacerbating current high water conditions on this waterway. Based on what we know today, we anticipate high water

conditions throughout the Mississippi River System for the majority of the second quarter, thereby creating significant

operating inefficiencies. On a positive note, our second quarter guidance reflects continued strong petrochemical and

black oil products markets and continued modest increases in term and spot contract pricing. Our second quarter

guidance also assumes accretive earnings from our recently completed acquisitions.‖


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38

Mr. Pyne further commented, ―For the 2011 year, we raised our earnings guidance to $2.70 to $2.90 from previous

guidance of $2.55 to $2.80 per share, compared with $2.15 earned in 2010. Our high end guidance assumes continued

strong petrochemical and black oil products markets with equipment utilization for these markets remaining in the low

90% range, and modest improvements in term and spot contract pricing. Our low end guidance assumes some

deterioration in equipment utilization levels back to high

80% levels with term and spot contract pricing

improving modestly later in the year. Both our 2011

year low end and high end guidance factors in an

estimated $.02 to $.07 per share impact of the current

high water and lock issues on our inland tank barge

segment. Our guidance also assumes our diesel

engine services segment will continue to face

challenges in its Gulf Coast oil services market, with

some gradual improvement as the year progresses,

and assumes stable marine and power generation markets. In addition, our full year low and high end guidance

assumes accretive earnings from United in the $.20 to $.25 per share range and assumes K-Sea‘s earnings

contribution will be offset by one-time merger transaction fees of approximately $.05 per share. Our 2011 capital

spending guidance range is $220 to $230 million, including approximately $100 million for the construction of 40 new

inland tank barges and three new inland towboats, and approximately $36 million in progress payments on the

construction of a new offshore integrated dry-bulk barge and tugboat unit with an estimated total cost of $50 million.‖

On February 9, 2011, Kirby purchased from Kinder Morgan Petcoke, L.P. for $4.1 million in cash a 51% interest in a

shifting operation and fleeting facility for dry cargo barges and tank barges on the Houston Ship Channel. In addition,

Kirby purchased a towboat from Kinder Morgan for $1.2 million in cash. Financing of the acquisition was through Kirby‘s

operating cash flows. On February 24, 2011, Kirby purchased 21 inland and offshore tank barges and 15 inland

towboats and offshore tugboats from Enterprise Marine Services for $53.2 million

in cash. The acquired equipment provides transportation and delivery services for

ship bunkers to cruise ships, container ships and freighters primarily in the Miami,

Port Everglades and Cape Canaveral, Florida area, the three largest cruise ship

ports in the U.S., as well as Tampa, Florida, Mobile, Alabama and Houston, Texas.

Financing of the acquisition was through Kirby‘s operating cash flows. On March

13, 2011, Kirby signed an agreement to acquire K-Sea Transportation Partners

L.P., an operator of tank barges and tugboats participating in coastwise

transportation primarily of refined petroleum products in the U.S. pursuant to which

a subsidiary of Kirby will merge with K-Sea, with K-Sea surviving the merger as a

wholly owned subsidiary of Kirby. The total value of the transaction is approx. $600

million, before fees. The consideration will consist of cash, Kirby common stock

and the refinancing of K-Sea debt. Financing of the acquisition will be through a

combination of existing cash flows, common stock, borrowings under Kirby‘s

revolving credit facility and a new $540 million five-year unsecured term loan. K-Sea‘s fleet, comprised of 58 tank

barges with a capacity of 3.8 million barrels and 63 tugs, operates along the East Coast, West Coast and Gulf Coast of

the U.S., as well as in Alaska and Hawaii. K-Sea‘s tank barge fleet, 54 of which are doubled hulled, has an average age

of approx. nine years and is one of the youngest fleets in the coastwise trade. K-Sea‘s customers include major oil

companies and refiners, many of which are current Kirby customers for inland tank barge services. Headquartered in

East Brunswick, New Jersey, K-Sea has major operating facilities in New York, Philadelphia, Norfolk, Seattle and

Honolulu. On April 13, 2011, the Federal Trade Commission granted Kirby early termination of the Hart-Scott-Rodino

waiting period for acquisition of K-Sea. The transaction is anticipated to close in the 2011 third quarter.

Kirby Corporation operated an average of 230 towboats, 829 inland active & 40 inactive tank barges and four offshore

dry-bulk tug and barge units engaged in offshore transport of dry bulk cargoes during first quarter 2011. Another

20,000dwt ocean bulk barge with a 6,000BHP AT/B ocean tug is on order (see page 8). Kirby also owns a two-thirds

interest in Osprey Line, LLC, which transports project cargoes and cargo containers by barge, as well as a 51% interest

in a shifting operation and fleeting facility for dry cargo barges and tank barges on the Houston Ship Channel.


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39

K-Sea Transportation’s operating income was $0.8 million for the quarter ended

March 31, 2011 compared to an operating loss of $3.6 million, excluding asset

impairment charges, for third fiscal quarter ended March 31, 2010. Earnings before

interest, taxes, depreciation and amortization (EBITDA) for third quarter fiscal 2011

was $13.0 million excluding below mentioned gains on asset sales and one-time

items, compared to $9.1 million for third quarter ended March 31, 2010.

President and CEO Timothy J. Casey said, "Our third fiscal quarter results were in line with our expectations. The third

fiscal quarter is always our weakest quarter seasonally, and the prior year's third quarter was particularly affected by

the poor state of the refining industry at that time. Our fourth fiscal quarter ended June 30, 2011 should improve

sequentially. At March 31, 2011, our fleet's contract cover of at least one year, measured by barrel-carrying capacity,

was 54%; we expect our contract cover to approximate this percentage at the end of our June 2011 fiscal year….‖

This year's operating income represents an increase of $4.4 million compared

to an operating loss of $3.6 million for the three months ended March 31, 2010,

excluding a $1.7 million asset impairment charge relating to assets sold below

book value. Operating income, inclusive of the gains on asset sales and one-

time items, were $0.3 million for the three months ended March 31, 2011 and

an operating loss of $5.3 million for the three months ended March 31, 2010.

EBITDA, excluding the gains on asset sales, $1.3 million of costs related to a

possible debt refinancing K-Sea postponed in light of the proposed merger with

Kirby, and other one-time items mentioned above, was $13.0 million for the

three months ended March 31, 2011 as compared to $9.1 million for the three

months ended March 31, 2010.

EBITDA and operating income for third fiscal quarter 2011 was positively

impacted by improved spot market rates as compared to the March 2010 quarter,

which suffered from a very weak refining market. This was offset by fewer total

working days owing to the sale or retirement of fourteen single-hull tank barges

and three older double-hull tank barges during the last twelve months. The

average daily rate for the three months ended March 31, 2011 increased to

$12,973 as compared to $11,259 for the three months ended March 31, 2010. In

addition to improved spot market rates, average daily rates benefited from three

coastwise new-build barges placed into service in March 2010, April 2010, and

February 2011. Vessel operating expenses decreased by $1.9 million during the

three months ended March 31, 2011, compared to the same period last year,

resulting mainly from the operation of fewer vessels.

K-Sea Transportation Quarterly Supplemental Operating Statistics

2011 2010 2009 2008

31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 31-Dec

Local Trade

Avg. Daily Rate $7,394 $7,557 $7,439 $7,327 $7,280 $7,385 $7,210 $7,294 $8,067 $7,493

Net Utilization 70% 74% 74% 74% 73% 76% 80% 77% 80% 83%

Coastwise Trade

Avg. Daily Rate $15,801 $14,489 $14,800 $13,340 $13,440 $13,290 $12,509 $13,862 $13,865 $13,151

Net Utilization 76% 83% 85% 79% 71% 81% 89% 85% 85% 91%

Total Fleet

Avg. Daily Rate $12,973 $12,114 $12,584 $11,391 $11,259 $11,307 $10,791 $11,740 $11,979 $11,334

Net Utilization 74% 80% 81% 77% 71% 80% 86% 82% 84% 88%

Average daily rate is equal to the net voyage revenue earned by a group of tank vessels during the period, divided by the number of days worked by that group of tank vessels during the period. Net utilization is equal to the total number of days worked by a group of tank vessels during the period, divided by total calendar days for that group of tank vessels during the period.


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40

Recent News – Latin America Harms Bergung’s has kept their 24,500BHP AHTs ―Taurus‖, ―Pegasus‖

and ―Orcus‖ busy. The three sisters were chartered by Murphy Oil to

performing offshore support duties to their operations in Suriname. The

tasks of the Harms fleet included jack-up support and heading control duties

to 260m x 46m x 22.4m depth, double-hull shuttle tanker ―Evi Knutsen‖.

After completion, the tow masters on this job, gave a very positive feedback

on the Harms vessels involved and said ―they were in fact acting as very

large harbor tugs over a protracted period and this called for a high degree

of skill from both the masters and

the watch keeping officers. On

another note, I recommended

these vessels based on previous experience with the ‗Ursus‘ and was really

pleased to see that my faith in both the equipment and the crews was borne

out. All of the vessels performed to their full technical specifications and more

but particular attention has to be made of the ‗Orcus‘, she impressed

everybody with her range of abilities. Well done.‖ The charter started on 26th

February and ended on 10th March 2011. On redelivery by Murphy, the

vessels are available again for world-wide employment.

Fairstar Heavy Transport signed two marine heavy transportation contracts with GAC in Aberdeen Scotland.

Fairstar's 146.3m 36.0m semi-submersible vessels ―Fjord‖ and ―Fjell‖ will transport a flotilla of 42 tug boats from

Singapore to Maracaibo, Venezuela in April and May of 2011. Chris Muilwijk of the Fairstar Client Services Group

provided some additional details. "The safe, secure loading

and transport of these tug boats from Singapore, around The

Cape of Good Hope to Venezuela requires precise planning

and seamless operational execution. We are delighted to have

been chosen by GAC and take their trust in our company very

seriously. The combined skills of our Operations Team with

our experienced Team on board ‗Fjord‘ and ‗Fjell‘ will be a

significant factor in performing the complex maneuvers

required to safely load and unload such a multitude of floating

objects. This is an unusual assignment for our Team, but we

are determined to exceed the expectations of our client for

safety and reliability." stated Muilwijk. Fairstar's CEO Philip

Adkins summarized the importance of the two new contracts

by stating "The doldrums of the current spot market for marine

heavy transport continue to be characterized by a shortage of

cargoes, excess capacity, and savage discounting by our competitors. Our financial performance and low vessel

utilization rates in Q4 of 2010 and Q1 of 2011 reflected this dangerous and unsustainable situation. These new

contracts with GAC have an immediate impact on our vessel utilization and cash flow. It is a relief to see the remaining

three quarters of 2011 are now filling in and we are less than a year away from starting our work on the USD 90 million,

multi-voyage, multi-vessel Gorgon LNG Project." (Photo Credit: Arie Zeeuw).

Towards the end of last year, Tramarsa of Callao, Peru committed more than US$ 30.5

million for the modernization of their fleet with five new shipdocking tugs and eight

launches. The 4,400BHP ASD tugs, ―Pisac‖, ―Pachacamac‖, ―Naylamp‖, ―Vichama‖ and

―Pakatnamu‖ built by Jiangsu Wuxi Shipyard Co., Ltd. in China have a bollard pull in

excess of 55 tonnes. Investment in the tugs is about US$ 28 million. The 12 passenger

launches are being built by Astilleros Maggiolo in Callao for service at the oil terminals at an investment of US$ 2.5

million with the last four launches expected to be delivered and positioned in the major coastal ports by mid-2011.


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41

Recent News – Europe and Mediterranean On 8

th April 2011, ownership of ITC Towage’s tug ―Simoon‖ was transferred to the Greek owners Fournarakis Bros.

and will continue its operations by Diavlos Pantanassa Inc. / Diavalos

Salvage & Towage Ltd. under the name S/T ―Panormitis‖. Just two weeks before on 24

th March, the sister-tug ―Suhaili‖ which was on salvage

station in Freeport, Bahamas was sold to the U.S. based salvage and

pollution response company Resolve (see page 33). We wish both vessels and their crew members a fortunate and safe sailing. ―Suhaili‖ and ―Simoon‖ were the third and fifth ocean tug built by Matsuura Tekko, Higashino, Japan and delivered to ITC in 1977 out of totally six identical tugs, under yard number 259 and 262. The 8,440BHP, 102 tons bollard pull tugs were ranked at that time among the most powerful tugs. ―Sirocco‖ and ―Sumatras‖ are still operating under the ITC flag. ―Solano‖ is now sailing under the name of ―Karar‖ and still being managed by ITC.

―Shamal‖ was sold in 1998 to Boluda, Spain and renamed ―VB Artico‖. ITC is proud that all six sisters are still trading. A seventh tug, almost similar but no sister vessel, named ―Santania‖ (built originally as the ―Shoei Maru No. 82‖, now named ―V.B. Antarctico‖ (ex-V.B. Indico)) joined the ITC fleet in 1978. Following a fire in the engine room, also this tug was sold to the Spanish tug operator Boluda. She was repowered with Wartsila 8R32Ds developing 8,158BHP in 1994. Both ―Suhaili‖ and ―Simoon‖ chalked up a large number of noteworthy jobs during their ITC careers. (Photo taken by crew of “Simoon” while proceeding to assist the 10,677dwt Italian flagged Ro-Ro ship “Jolly Amarante”

which was declared a total loss after sinking off Alexandria, Egypt the end of last year.)

From 27th to 29

th April, 2011 the European Tugowners Association (ETA) held

its 48th Annual General Meeting in Antalya/Turkey. With 120 participants from

more than 15 European countries, the AGM as well as the succeeding ―Social

Day‖ were very well attended. The meeting was hosted by Turkish tug-builder and

-operator Sanmar in Belek close to Antalya. Besides general affairs in relation to

the European towage industry, the General Assembly discussed the recently

published guidelines on safer towage, developed by an ETA working group

together with the European Maritime Pilots’ Association (EMPA). This Joint

Paper highlights technical safety issues on board of seagoing ships which have a

general impact on the towage industry. Missing SWL-markings on bollards,

insufficient strength of bollards on board of seagoing ships which cannot sustain

bollard-pulls of today‘s modern and strong tugboats, unsuitable or even missing fairleads or missing marks for safe

push points on ships‘ hulls are only a few concerns described in this Joint Paper. ETA/EMPA is presently circulating

this paper within the maritime industry such as ship designers, shipyards, classification societies, insurers etc. During

the subsequent conference, speakers from P&I / H&M insurer British Marine as well as classification society Det

Norske Veritas commented on this Joint Paper from their perspectives and promised support in their respective circles.

During this years‘ meeting the Chairmanship changed as per constitutional routine. New ETA-Chairman for the next

two years is Richard Knight of the J.P. Knight Group in Chatham/England. He succeeded previous Chairman Joerg

Mainzer of Fairplay Towage, Hamburg/Germany. Torsten Holst Pedersen of Svitzer Scandinavia has been elected

Deputy Chairman. Following the Annual Meeting, host Sanmar organized a boat trip for all attendees which started in

Antalya‘s historic marina. Sanmar even ordered their tug ―Ulupinar XI‖, stationed in Mersin, to sail 200 nm to Antalya to

accompany the conference participants on their boat trip and to ―show-off‖ with a much applauded tug-ballet. (Marcon

has previously brokered three of this class tugs to Buyers in the Dominican

Republic.) Upon leaving the old Antalya port the ETA-members witnessed a

local Turkish salvage company‘s wreck removal efforts of a cargo-ship which

ended up on the rocks of Antalya in a severe gale in autumn 2010. ETA was

established in 1963 in London. Today it comprises 80 members from 20

European countries with more than 800 registered tugboats. ETA

understands itself as the voice of the European towage industry especially in

EU-circles in Brussels. The association is managed by Secretary General Dr.

Hugo Callens with an office in Brussels/Belgium


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Another tow coming up for whom????? Bids are being invited by U.K.‘s

Disposal Services Authority for the 210m x 36m carrier ―Ark Royal‖ lying

at HM Naval Base Portsmouth, U.K. Closing date for bids are Monday, 13th

June 2011 for the carrier, which has a current displacement of 19,000mt,

lightweight of 16,000mt and estimated metal weight of 10,000mt (including

machinery), of which 95% is estimated to be steel. The props are cut and

some components will be removed, twin shafts locked, hull valves will be

internally wired shut and hull reportedly in good condition according to a

Lloyds ‗09 survey. No power is available for deck machinery and it is likely

that the only practical means of towing will be via a single chain cable

connected to the starboard cable bitter end and stopped on deck by two

cable slips and the cable holder. Bitts and bollards are not considered fit for towing purposes. Welding new fittings to

the deck could be considered, subject to appropriate deck strength calculations. The sale is expected to be completed

by the end of this year. ITC‘s 8,440BHP tug ―Sirocco‖ towed the former 22,000 ton displacement aircraft carrier HMS

―Invincible‖ on her final 2,800nm voyage from the Solent to Turkish breakers earlier this year.

Maersk, parent of Svitzer, in their May 2011 ―Interim Management Statement‖, reported

revenue up by 10% to $14.5 billion ($13.2b) primarily due to higher container freight rates,

container volumes and oil prices. "We have had a good start to the year and are very

satisfied with the results. Our businesses have performed very well, even as tanker rates have remaine d low and

container rates have been decreasing during the period. In the past six months we made significant investments in

ships, terminals, drilling rigs and oil fields. These reflect our continued strong confidence in the long term future of

our markets and not least our ability to continue to compete successfully,‖ says Group CEO Nils S. Andersen.

Container activities made a profit of US $438m ($169m) and ROIC of 10.2% (3.9%). The number of containers

carried increased by 5% to 1.84m FFE, while the average freight rate of US$ 2,908 per FFE was 2% higher than the

same period last year. Terminal activities showed a profit of $139m ($114m). Container throughput increased by 8%

to 7.8m TEU and ROIC increased from 8.8% to 11.6%, primarily through efficiency and cost reductions. Maersk

expects global demand for seaborne containers to grow by 6-8% in 2011. The global supply of new tonnage is

expected to match or grow more than the freight volume especially on the Asia to Europe trade. Maersk expects

freight rates to remain under pressure short term, but see a stronger market in second half 2011, while increased

bunker and time charter costs are expected to continue to impact margins negatively. Container activities expect a

satisfactory result, but below 2010. Maersk Oil made a profit of $512m ($ 450m) and a ROIC of 44.1% (35.2%),

positively affected by a 38% higher average oil price at $105/bbl, partly offset by tax rate increase in the UK. The

Group‘s share of oil and gas production declined by 13% to 30 million barrels, primarily due to higher oil prices as

well as reduced investments and costs in Qatar. Exploration costs of $ 41m were the same as last year. Tankers,

offshore and other shipping activities made a profit of $213m ($115m) and a ROIC of 5.9% (3.1%) . Maersk Oil

expects a result below 2010, based on a higher level of exploration activities, a share of oil and gas production of

around 120 million barrels which is 13% below 2010, and an oil price of $100 per barrel. The outlook for Terminal

activities, Tankers, offshore and other shipping activities is expected to be above 2010. Outlook for 2011 is subject

to considerable uncertainty, not least due to developments in the global economy and trade. The oil price has been

affected by political unrest in North Africa and Middle East. Outcome can have material impact on Maersk‘s result.

Boa Group of Trondheim, Norway successfully established new long-term debt facilities both in

the bank and bond market which have enabled Boa to refinance existing long-term and short-term

debt and general corporate issues within the Group. Following this refinancing, Boa Group is

positioned to meet future demands and reaffirms the Groups determination to remain a leading,

long-term player in the offshore industry. On 27 April a NOK 1.2 billion senior secured bond loan

was established with 1st priority security in the two state-of-the-art offshore construction vessels ―Boa Deep C‖ and ―Boa

Sub C‖. The loan refinanced the existing bank debt related to the two named vessels of less than NOK 700 million. The

bond loan was substantially oversubscribed by Norwegian and international investors. At the same time, Boa Group

established a NOK 300 million bank loan facility from Sparebank 1 SMN. The loan has 1st priority security in other

Group assets, and was used to refinance other short-term loan facilities. Boa Group is a privately owned company

founded in 1975 as Taubåtkompaniet AS. Boa Group owns and operates a fleet of about 35 units consisting of tugs,

barges, offshore vessels and offshore construction vessels.


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Royal Boskalis Westminster N.V. has compiled a new Corporate Business Plan in

order to bring focus to the new group in terms of its composition and cohesion, and to

prioritize the various investment opportunities. To this end, Boskalis took measures

including a global market survey of the relevant trends and developments in their

markets. They also visited dozens of clients and end-users of their services around the

world in order to question them about their views on the market and their specific product requirements. The study

showed that the long-term drivers for their industry, and in particular the growth in energy consumption and global

trade, remain positive. The main market segments that Boskalis will continue to concentrate on are Oil & Gas, Ports

and Land Reclamation & Coastal Protection. They refined their geographical focus, identifying six regions in the world

where there is expected to be a high level of activity for their business in the coming years and on which they will

concentrate their focus. These ―focal regions‖ are: Northwest Europe, South & West Africa, Brazil,

Middle East, Southeast Asia and Australia. Although the long-term drivers are positive, they expect

volumes and prices to be under pressure in the near term, particularly at the lower end of the market.

Conversely, at the top end of the market Boskalis sees opportunities for combined services with

considerable added value. This applies in particular to the combination of Smit and Boskalis services,

whose merger created one of the largest international maritime companies in the world. In order to

maximize its ability to leverage opportunities they will continue to further integrate the organizations. In

the coming years they will use their strategic framework to further put their house in order, on the one hand by fine-

tuning both their portfolio of activities and their organization. On the other, Boskalis will take targeted action to further

strengthen themselves – within the organization, with their fleet, and, where possible, through acquisitions. In addition

to investing in the dredging fleet, Boskalis is investing in a fallpipe vessel and a hybrid rock dumping/cable laying

vessel. The fallpipe vessel is under construction and will be commissioned in early 2012.

With completion of new LNG import and export terminals Boskalis expects to see a considerable number of new

terminal contracts from 2012-13. They plan to build new tugs to service new terminal contracts. For the Asian Lift

Singapore joint venture Boskalis wants to have a large floating crane built which can be deployed for heavy lifting work

in, for example, the oil and gas sector in the Southeast Asia region. Boskalis wants to achieve further expansion in the

Brazilian growth market by investing in new tugboats for their Harbor Towage and Terminal Services segments.

Furthermore, they are investing in high-pressure saturation diving equipment to enable them to extend existing diving

activities to other regions. In 2011, Boskalis will further explore a possible merger of Smit Terminals and Lamnalco, in

which Boskalis intends to keep a 50% stake.

The leveraging of market presence and strong client relationships will enable Boskalis to offer a wider range of

activities. For example, their dredging activities hold a strong position in Australia and they see opportunities to also

offer Terminal Services and Heavy Lift services in this market. In Brazil, where they are well-positioned with Harbor

Towage, they also see good opportunities for Dredging, Transport and Heavy Lift activities. In West Africa, where they

have successfully provided Dredging and Terminal Services for many decades, they see opportunities for growth in

Transport and Heavy Lift. By using an existing market position to pass the ball from one activity to another, Boskalis

sees opportunities for strengthening regional positions. As well as strengthening regional position using existing

activities, they also see opportunities for starting up new, related activities. The demand for new activities stems

primarily from developments in the energy market (both Oil & Gas and offshore wind parks) and integration of electricity

and gas markets. For example, Boskalis wants to be involved in the realization of cabling infrastructures and the

dismantling of oil platforms. Furthermore, in large-scale projects they want to be able to play a part in creating civil

engineering constructions. Boskalis already provides these activities on a regional scale in the Mid-East, where their

associate company Archirodon is very successful in these areas. Given their complementarity with dredging activities

Boskalis sees further opportunities for expanding these activities to Northwest Europe and, selectively, to other regions

as well. In addition to strengthening combined activities at a regional level through organic growth and/ or acquisitions,

Boskalis is keeping an eye out for acquisitions which provide a global niche position, on the condition that they are a

good fit with the rest of the group in terms of activities, field of operation and core competencies. New activities have to

be related, and must have the potential to contribute Value-Adding Assets and leverage the group‘s competencies.

Furthermore, Boskalis is open to consolidation opportunities in markets for Dredging, Harbor Towage and Terminal

Services. The strategic framework for the Business Plan is based on current expectations with regard to global

developments in the relevant market segments. Within this framework they believe that in 2013 that they should be

able to match the historic annual result achieved in 2010. And so it is with a sense of great expectation and confidence

that Boskalis crosses the threshold into the next century of their history.


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On 1st April 2011 at about 2145, the 141m x 21.8m x 9.08m draft Panama flagged bulk

carrier ―Ioanna‖ ran aground in front of Zincirbozan Bank at the Çanakkale Strait

Gelibolu exit despite the warning of Çanakkale Vessel Traffic Services. The ―Ioanna‖

was laden with 15,200mt bulk sugar. In order to provide the safety of navigation, life,

property and protect marine environment, ―Kıyı Emniyeti 8‖ SAR boat and Kıyı

Emniyeti tug ―Söndüren‖ were immediately dispatched to assist by the Çanakkale

Vessel Traffic Services. No pollution, loss of life or request for assistance was

reported. A salvage and rescue agreement was

signed on 3rd

April at about 1330 and the vessel

was successfully refloated and secured…. On 8th March at about 0930, the

Russian flagged dry cargo vessel ―Dvina‖, while at anchor in front of the Karabiga

Kocabaş streamlet outfall, Canakkale, dragged her anchor due to severe storm

and bad weather conditions. After running aground, the 108.4m x 15.0m x 3.26m

draft, 3,174dwt vessel was refloated by her own means the next day at 1720. No

pollution, loss of life or request for assistance was reported.

African News A specialized team lead by Fairmount Marine completed the tow, mooring and

positioning hook-up of the FPSO ―Pazflor‖ offshore Angola. Earlier Fairmount‘s 205

tonne bollard pull tugs ―Fairmount Expedition‖, ―Fairmount Glacier‖ and ―Fairmount

Alpine‖ towed FPSO ―Pazflor‖ from Korea to Angola. After arrival offshore Angola

the 30 man team of Fairmount Marine connected the FPSO ―Pazflor‖ to its

moorings, while the three Fairmount tugs

together with a fourth, chartered tug have kept

the ―Pazflor‖ in position. The mooring and

positioning hook-up works took less than three

weeks and all went according to planned schedule. ―Fairmount Expedition‖,

―Fairmount Glacier‖ and ―Fairmount Alpine‖ towed the FPSO ―Pazflor‖ from Daewoo

Shipbuilding & Marine Engineering‘s shipyard in Okpo in Korea over 11.000 miles to

its destination offshore Angola via Singapore and the Cape of Good Hope. Enroute

the tow took on bunkers at Singapore, Mauritius and Cape Town. ―We are delighted

to see that we have a happy client. With the successful completion of the towage,

mooring, positioning and hook-up of the FPSO ‗Pazflor‘, Fairmount Marine not only demonstrates that it is The Global

Leader in ocean towage, but also that the Fairmount team is able to provide a whole range of integrated and highly

skilled services to our clients from towage to positioning and mooring,‘‘ says Albert J. de Heer, CEO of Fairmount

Marine. FPSO ―Pazflor‖ is one of the biggest of its

kind, measuring 325m long, 61m wide and a towing

draught of 8m. The unit is named to the Pazflor oil

field, about 150 miles offshore Angola. The oil field of

about 600 square kilometers at a depth of 1,200

meters is discovered in 2003 and operated by oil

company Total. Once in service the FPSO ―Pazflor‖

will produce 220,000 barrels crude oil daily.

Royal Boskalis Westminster N.V., parent company of Smit, has been awarded a number of contracts in Nigeria with

a total value of approx. € 90 million. The largest contract was awarded by Prodeco International Limited and involves

dredging and reclamation works for the expansion of the Federal Lighter Terminal and the Federal Ocean Terminal in

Onne Port, which is managed by Intels Nigeria Limited, a large logistic service supplier to the oil and gas industry.

Boskalis will reclaim approximately 180 hectares of land for the further development of the Onne Port Oil & Gas Free

Zone. The material required for the reclamation works will be sourced from nearby creeks and rivers using a cutter

dredger and a medium-sized hopper dredger. The project is set to commence mid-2011 and will last approximately two

to three years.


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Southeast Asian, South Pacific and Far East News On Friday 1st April 2011, Tsavliris Salvage International Ltd. of Piraeus dispatched the Japanese flagged, 41.7m,

4,000HP twin screw salvage tug ―Kohoh Maru‖ (ex-Kanbara 709) to the assistance of the Liberian

flagged, 1996 built, 23,524dwt bulk carrier ―Vostok‖ laden with 21,250mt of Portland Cement (Clinker

Type I) in bulk, disabled about 450nm Southeast of Yokoshuka. Due to heavy yawing of the 154.5m

x 26.0m x 13.35m draft casualty and adverse weather conditions, the tug ―Shoyo Maru‖ was

mobilized from Yokoshuka to assist in the towage as a steering tug. On the 9th April the convoy arrived safely at

Shimotsu and casualty was delivered at MES Dockyard.

On 22nd

March at around 2200 hours, the Indonesian flagged tug ―Marina

26‖ towing barge ―Marine Power 3301‖ while underway abt. 12nm east of

Pulau Tioman, Malaysia was intercepted by a speed boat boarded by 10 or

more men armed with knives and parangs (long knives). The hijackers tied

up the crew, locking them in a cabin and turned the tug‘s tracking system

off. Two days later, the crew was given some food, water, passports and

cash and forced onto a life raft from which they were rescued by a passing

fishing boat on 25th March. After the crew was abandoned in the life raft, the

tug, which had now been

painted green instead of

the original red color, was last seen heading east. The first that

Primarina Trading, the Owners, knew about the situation was when

the Captain called from the fishing boat. This was the first hijacking

reported off Pulau Tioman since February 2010 when the tug ―Asta‖

towing the barge ―Callista‖ was taken. The crew and barge were later

recovered by Malaysian authorities and the tug, renamed ―Roxy -1‖

was later recovered in southern Philippines.

Mid-East & Southwest Asian News In April 2011, the Deep Panuke Production Field Centre (PFC) was loaded

out to ―Boabarge 36‖ by charterer Single Buoy Moorings (SBM), marking

the completion of a three year building project. The jack-up type production

platform was jacked down onto ―Boabarge 36‖ in dry dock at the construction

yard in Abu Dhabi, UAE. The barge will be floated onto the Dockwise heavy

lift vessel ―Talisman‖ in the Persian Gulf, for transit to Mulgrave in northern

Nova Scotia, Canada. Upon float-off in Canada, the barge will be towed to the

Deep Panuke field for offshore installation, hook-up and commissioning

which will continue into the fourth quarter of 2011. The Production Field

Centre is a jack-up type installation designed to produce 300 MMscfd of sales

gas and accommodate a maximum of 75 persons during production. ―Boabarge 36‖ is one of Boa Group’s four new

built 124m x 31.5m x 7.93m semi-submersible heavy deck cargo barges.

This series of barges has deck load capacity exceeding 17,000 metric

tonnes, which on project basis can be further increased by the use of

sponsons. For the Deep Panuke PFC project, a port side sponson was

designed and installed by Boa‘s in-house engineering department for

charterer SBM. Total transport weight for the project exceeds 24,000

metric tonnes. Boa also provided general engineering support to the

project, as well as personnel for the heavy-lift operations. EnCana

entered into an agreement with Single Buoy Moorings Inc. (SBM) for the

provision and operation of the Deep Panuke production field centre in

November 2007. SBM will own and operate the production field centre

(PFC) and will lease it to EnCana for the life of the project.


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Recently Updated Featured Tugs For Sale Direct From Owners File: TG84001 Anchor Handling Tug – Twin Screw - 154.7' loa x 40.6' beam x 19.7' depth x 15.45' loaded draft. Built in 1976. Built at Odense Shipyard; Lindo, Denmark. Rebuilt: 2006. Panama flag. ABS + A1 Towing Svc. + AMS Unrestricted Service. IR SUL, IY. Deadweight: 560T. Deck Cargo: 135T on 69.1'x28.5' clear deck. FO: 559MT. FW: 57MT. BW: 250MT. Winch: Hydraulic Brattvaag double drum SL120/W BSL; 1 - 3MT tugger. Line Pull: 250T. Wire Capacity: 3,200' x 2.25" (2). Stern Roller. Main Engines: 2 x MAK 12M453AK total 8,500BHP. 114" Lips CP prop(s). Kort nozzle(s). 11,900nm range. Bowthruster 3.5MT. Bollard Pull: 100T. Speed about 15.5kn free on 31Tpd. Genset(s): 3 - 175kW 380vAC 50Hz. Firefighting: 2 - 1,300gpm @ 400'

(monitors). Quarters: 9-1, 3-2 berth. Air Conditioned. Open stern. Triplex shark jaw. 2 - 43m3 chain lockers. Mid East.

File: TG72148 Tug - Twin Screw - 149.5' loa x 40.0' beam x 22.0' depth x 20.25' loaded draft. Built in 1974. Built at Equitable Eq.; Madisonville, LA. U.S. flag. GRT: 173. Class: ABS +A1, Ice "C", Towing Service, +AMS (5yr SS & DD all overdue April 2010). FO: 199,727g. FW: 7,590g. Winch: Intercon DD250 double drum. Wire Capacity: 3,000' 2.25" / 3,600' 2.5". Main Engines: 2 x EMD 20-645E5 total 7,200BHP. 4 - blade stainless prop(s). Kort nozzle(s). Bollard pull @ 120T

ahead / 65T astern. Bollard Pull: 120T. Laid up. U.S. Gulf Coast. Prompt.

File: TG72145 Tug - Twin Screw - 136.2' loa x 36.5' beam x 19.2' depth x 17.00' light draft x 16.90' loaded draft. Built in 1977. Built at McDermott Shipyard; Amelia, LA. U.S. flag. GRT: 199. Class: ABS + A1 Towing + AMS, Unrestricted. Special Survey due 04/2012. Drydocking overdue 06/2010. FO: 155,000g. FW: 15,000g. Winch: Markey TDSDW 36 double drum. Wire Capacity: 2 - 2,800' x 2.25". Stern Roller. Main Engines: 2 x EMD 20-645E7B total 7,200BHP. 5-blade 132" x 82" - 88" SS prop(s). Bollard Pull: 75ST. Speed about 16kn free. Pump(s): Fuel, fire & bilge. Genset(s): 2 - 105kW / CAT 3304. Quarters: 10 crew in 5 cabins. Air Conditioned. Galley. Triple rudders for close-quarter maneuverability & steering power to handle large tows. Hydraulic tow

pins. Excellent sea-keeping capability. Well suited for all types of ocean towing including emergency response and towing of disabled vessels. We may be able to develop a select few of this class on a P&C basis from owners for whom we have handled

close to a hundred sales and purchases for over the years. U.S. Gulf Coast.

File: TG62135 Tug - Twin Screw - 149.0' loa x 40.0' beam x 22.2' depth x 15.00' light draft x 18.00' loaded draft. Built in 1976 at Halter Marine; Moss Point, MS. U.S. flag. GRT: 198. Class: ABS Loadline (exp Nov 28, 2012). Deadweight: 1,032lt. FO: 240,000g. FW: 14,975g. Winch: Intercon double drum. Line Pull: 350,000lbs. Wire Capacity: 4,000' x 2.25". Main Engines: 2 x Alco 16-251F total 6,200BHP. FP 4 blade 144" x 105" prop(s). Bowthruster. Bollard Pull: 70T. Speed about 13kn. Genset(s): 2 - 150kW. Quarters: 15 in 8 cabins. Air Conditioned. Galley. Raised foc'stle bow. Displacement at loadline abt. 1,890 long tons. Open wheel. Remotely operated tow pins. Bollard pull abt. 77 tons (certified 1990). Sold to present owner thru Marcon. Current owners

spent money on refurbishments after purchase in 2007. U.S. Northeast.

File: TG59117 / TG57128 ATB Tugs - Single Screw (2 each) - 128.0' loa x 36.1' beam x 15.7' depth. Built in 1981 / 1982 respectively at McDermott Shipyard; Amelia, LA. U.S. flag. GRT: 272. Class: ABS + A1, Towing Service + AMS + ABCU. Deadweight: 412T. FO: 83,600g. FW: 8,929g. Winch: Markey TDS 32 enclosed. Wire Capacity: 2,000' 2". Main Engines: 2 x EMD 16-645E7B total 5,750BHP. Single 12.5' dia VP steering prop(s). Kort nozzle(s). Automated engine room ABCU. Speed about 10.5kn on 7,000gpd. Genset(s): 2 - 210kW; 1 - 55kW. 1 - 1,000gpm fire monitor. Quarters: 12 persons. Intercon linkage system installed 1997. Previously matched with 180,000BBL barge. Tug partial double hull. Upper pilothouse 51.35" height of eye. Twin engine/single screw with steerable Kort and controllable pitch. One tug recently drydocked for

Class, when spent $600,000 including overhaul of both main engines. Estimate another $200,000 to complete Special Survey.

Sale "as is, where is". Marcon sold to both present & past owners. U.S. Gulf Coast.

File: TG57139 Anchor Handling Tug - Twin Screw - 138.7' loa x 36.5' beam x 18.9' depth x 15.30' loaded draft. Built in 1974. Built at D.W. Kremer Sohn Gmbh; Germany. Panama flag. GRT: 600. Class: BV I Tug. Ice III. Special Survey due 02/2013. FO: 300MT. FW: 105MT. BW: 118.3m3. Crane: Hydraulic 3MT SWL. Winch: Double Drum Norwinch hydraulic. Wire Capacity: 850m 52mm. Main Engines: 2 x MAK 8M452AK total 5,000BHP. CP prop(s). Kort nozzle(s). Oil 4SA 8 cyl. 320 x 450mm. Speed 10kn econ. Range 7,000nm. Bowthruster 350BHP. Bollard Pull: 65T. Speed about 13.5kn free. Genset(s): 2 - 150kW / Volvo; 1 - 180kW / Volvo 220vAC 50Hz. Firefighting: Fifi. 300Lpm. 4 monitors. Quarters: 3-1, 7-

2 berth. Ocean going anchor handling tug. Range 7000nm. Sale "as is, where is". Mid East. Fairly

prompt.


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File: TG56147 Upper Pilothouse Fitted Tug - Twin Screw - 148.0' loa x 140.9' lbp x 35.1' beam x 19.3' depth x 17.56' loaded draft. Built in 1976. Built at Southern Ship Bldg.; Slidell, LA. U.S. flag. GRT: 180. NRT: 153. Class: ABS + A1 Towing Service. AMS, Unrestricted. Drydocking overdue 8/2009. Special Periodic Hull Survey due 11/2011. Light Disp.: 727lt. FO: 122,000g. Main Engines: 2 x EMD 16-645-E5 total 5,600BHP at 900RPM. cast steel FP prop(s). Engine started abt. every 30 days. Speed about 9 - 12kn. Genset(s): 2 - 165kW. Push tug with upper pilothouse with conventional wire connection system. Height of eye 55.5'. ITC tonnage GT/NT 606 / 181. In

lay-up status. Copy of ABS report & ultrasonics on request. U.S. Gulf Coast.

File: TG53118 / TG53117 Tugs - Azimuthing (2 each) - 106.6' loa x 38.3' beam x 18.4' depth x 14.10' loaded draft. Built in 2011. Built at Turkish Shipyard. GRT: 456. BV 1 Hull + Mach, Escort, Salvage, FiFi 1, AUT-UMS, Water Spray, Oil Rec, Unrestricted Nav. Winch: Double drum aft towing. Wire Capacity: 800m + 400m x 52mm steel wire. Stern Roller. Main Engines: 2 x CAT 3516B total 5,364BHP. Schottel SRP1515CP prop(s). Bollard pull astern 64MT. Bollard Pull: 65T. Speed about 13kn free. Pump(s): 2 - FFS type SFP 250 x 350 1,350m3/hr FiFi pumps. Genset(s): 2 - 150kW / CAT C9. Firefighting: 2 - FFS 1,200 / 300m3/hr water / foam monitors + water spray. Quarters: 10 persons. Air Conditioned. Galley. Harbor, escort, ship docking ASD tug. Single, split drum escort towing winch with 2 x 250m 54mm synthetic line. No bowthruster. 70T tow hook, tow pins, stern roller. Sister tug TG53098 under construction and

scheduled for delivery November 2011. Mediterranean. May 2011 / Prompt respectively.

File: TG51163 Tug - Twin Screw - 164.1' loa x 43.3' beam x 14.8' depth x . Built in 2010. Foreign flag. Class: BV. Deadweight: 800mt. FO: 600m3. FW: 215m3. Main Engines: 2 x total 5,150BHP. Bollard Pull: 62MT. Speed about 12.5kn trial. Quarters: 38

persons total. Far East.

File: TG51141 Tug - Single Screw - 141.0' loa x 34.4' beam x 14.6' depth x . Built in 1978. Built at Astilleros de Huelva, Spain. Spain flag. GRT: 587. Class: LR + 100A1 Tug + LMC until 19 Jul 2015. Deadweight: 456T. FO: 400m3. FW: 30m3. BW: 157m3. Crane: 1 - 9T with 12m max jib outreach. Winch: Single drum, towhook + capstan. Line Pull: 80T. Wire Capacity: 950m x 52mm. Main Engine: 1 x Deutz RBV12M350 total 4,400BHP. VP prop(s). Kort nozzle(s). Turbo-charged; Range - 10,000nm. Bowthruster 250BHP. Bollard Pull: 66.2MT. Speed about 15kn max. Genset(s): 3 - 140kW Indar / Pegaso; 1 - 64kW Stafford / Cummins 380vAC 50Hz. Firefighting: 2 - 240m3/hr pumps & 3 monitors (Foam/water). Ocean going tug

equipped for high seas salvage. Foam/Dispersant - 40m3. Oil recovery tank - 156m3. 2 Salvage rescue boats (25HP & 100HP).

Back on market at reduced price after other buyer unable to obtain funding. Europe. Prompt.

File: TG51115 Tug - Azimuthing - 115.0' loa x 37.7' beam x 18.4' depth x 15.70' loaded draft. Built in 2011. Built at Southeast Asia. Foreign flag. GRT: 493. Class: BV. Deadweight: 250mt. 65m2 clear deck. FO: 220m3. FW: 30m3. Crane: Hiab 1,310kg @ 9.7m. Winch: Hyd. Tow 150T brake. Wire Capacity: 1,000m x 50mm. Main Engines: 2 x CAT 3516 total 5,150BHP. ASD - Schottel prop(s). Bollard Pull: 62MT. Speed about 12.5kn. Pump(s): Bilge, FO, FW. Genset(s): 143ekW / CAT C6.6.

Firefighting. Quarters: 10 crew. Southeast Asia. August 2011.

File: TG51106 Tug – Azimuthing 105.0' loa x 38.0' beam x 17.6' depth x 13.74' loaded draft. Built in 2010. GRT: 490. Class: BV 1 + Hull Mach Salvage Escort Tug FiFi 1 AUT-UMS Unrest Nav. FO: 155,000L. FW: 44,000L. BW: 32,000L. Winch: 1- 130T brake; 2 - 15T tugger; 65T tow hook. Wire Capacity: 700m x 52mm. Main Engines: 2 x CAT 3516B HD total 5,145BHP. Twin Schottel prop(s). Steerable Thruster & Compact Thruster. Bowthruster 268BHP. Bollard Pull: 63T. Speed about 13kn free. Pump(s): 1 - 35m3/hr (fire). Genset(s): 2 - 250kW / CAT C9 DITA 440v 60Hz 3ph; 1 - 76kW. Firefighting: FiFi 1: Waterspray curtain; Water/foam monitor 1200m3/hr/300m3/hr. Quarters: 10 - 12 man. Air Conditioned. Galley. Robert Allen

Rampart 3200 ASD design. Prompt.

File: TG50145 / TG50117 Tugs - Azimuthing (2 each) - 105.0' loa x 38.0' beam x 17.5' depth x 14.10' light draft x 18.72' loaded draft. Built in 2010. Built at Chinese Shipyard. Singapore flag. Class: ABS +A1 (E) +AMS. FO: 211m3. FW: 162m3. Crane: 1T @ 5m. Winch: 1 - 65T (SWL) towing hook. Main Engines: 2 x CAT 3516B total 5,000BHP. 2 - azimuthing prop(s). Bollard Pull: 67T. Speed about 13kn. Pump(s): 1 - 1,400m3/hr FiFi (PTO from ME). Genset(s): 2 - 136kW 415v, 3Ph, 50Hz. Firefighting: 2 - 600m3/hr remote monitors. Quarters: 10 berths. Air

Conditioned. Galley. Ramparts 3200 design. Southeast Asia.


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File: TG44110 Tug - Twin Screw - 110.0' loa x 34.0' beam x 16.0' depth. Built in 1999. Built at C&G Boat Works; Mobile, AL. U.S. flag. GRT: 149. Class: ABS + A1, Towing Service, AMS, Unrestricted Service. FO: 70,000g. Winch: Smatco 66 DAW double drum. Cummins CAT 8.3 powered. Main Engines: 2 x CAT 3516B total 4,500BHP. 99" Kaplan FP stainless prop(s) on Stainless shaft(s). Kort nozzle(s). Repowered 2000. Speed about 10kn. Genset(s): 2 - 99kW / Cummins 6BT. 4 flanking rudders. Designed for notch towing/work. May be developed for sale enbloc or separately with HB39071. Upper house height of eye 44.5'. Lower house height of eye 27'. Recent 5 year drydocking with upgrade of ABS to oceans, shafts pulled and repaired, bottom blasted and painted, etc. Next ABS drydocking due 11/2014. Next ABS Special Survey due

10/2015. Next tailshaft surveys due 03/2016. U.S. Great Lakes. Prompt.

File: TG44073 Tugs - Azimuthing (2 each) - 98.4' loa x 35.4' beam x 17.7' depth x 11.81' loaded draft. Built in 2008. Built at Hong Kong, China. Hong Kong flag. GRT: 469. Class: BV1 + Hull + MACH, Salvage Tug / Utility Boat / FiFi I Unrestricted Navigation. FO: 250m3. FW: 110m3. Crane: [email protected]/8mt@2m,SWL. Winch: 1-Electro Hyd Tow winch 100mt; 1-Electro Hyd Anchor & Tow winch 80mt. Main Engines: 2 x Cummins QSK60M total 4,400BHP. 2-Aquamaster prop(s). Bowthruster. Bollard Pull: 66.5MT. Genset(s): 3-116kW/400V/50Hz/Perkins. Firefighting: FIFI as per BV classification. Quarters: 2-1,2-2,2-4 cabins. Air Conditioned. Galley. Sewage Treatment plant. Bollard pull ahead 66.5mt & 63.6mt

astern. Southeast Asia. Prompt.

File: TG43130 Tug - Twin Screw - 107.0' loa x 26.8' beam x 12.3' depth x 12.65' loaded draft. Built in 1953. Built at Higgins Industries; New Orleans, LA. Rebuilt: 1981. U.S. flag. GRT: 124. FO: 35,000g. FW: 3,000g. Winch: Markey single drum. Wire Capacity: 2,000' 1.125". Main Engines: 2 x EMD 12-645E7 total 4,300BHP. 107" x 75" 5 blade prop(s). Repowered from GM16V149TIs in 2006. Astern bollard pull @ 55,000lb. Speed about 10 - 12kn. Genset(s): 2 - 100kW / GM 6-71 480vAC. Air

Conditioned. Working in shipdocking service. Drydocked February 2009. U.S. East Coast.

File: TG42092 Tug - Tractor - 93.0' loa x 34.0' beam x 12.5' depth x 16.10' loaded draft. Built in 1982. Built at Valley Shipbldg, TX. Bahamas flag. GRT: 272. Class: ABS + A-1 Ocean towing + AMS ACCU. Deadweight: 337T. FO: 59,000g. FW: 4,000g. Crane: Single drum Intercon. Winch: Double drum. Wire Capacity: 2". Main Engines: 2 x B&W Holeby 7928LU total 3,750BHP. Niigata ZP 3-A FP prop(s). 6'10" korts. Full alarms. Bollard Pull: 52T. Speed about 12.5kn on 120gph. Genset(s): 2 - 135kW / CAT 460vAC. Firefighting: 1,000 GOM Aurora fire pumps. Halon system. Quarters: 5. Air Conditioned. Galley.

Europe.

File: TG40022 / TG39072 Upper Pilothouse Fitted Tugs - Twin Screw (2 each) - 109.0' loa x 31.0' beam x 14.0' depth x . Built in 1975. Built at Halter Marine Services Inc. U.S. flag. GRT: 198. Class: ABS +A1 Towing Service, +AMS. FO: 83,302g. FW: 5,086g. BW: 11,411g. Winch: Markey. Wire Capacity: 2,000' 2". Stern Roller. Main Engines: 2 x EMD 16-645E6 total 4,000BHP. 4 blade 100"x76" prop(s). Speed about 8.5/10kn on 80-95gph. Genset(s): 2 - 99kW / GM6-71. Quarters: 10 in 5 cabins. Air Conditioned. Galley. Upper pilothouse. Molded

"D" fendering system. For sale out of competition. U.S. Gulf Coast.

File: TG38106 Upper Pilothouse Fitted Tug - Twin Screw - 110.0' loa x 32.4' beam x 14.0' depth x 6.70' light draft x . Built in 1970. Built at Main Iron Works, Houma, LA. U.S. flag. GRT: 190. Class: ABS + A1, Towing Service. FO: 55,135g. FW: 2,055g. DW: 32,351g. BW: 21,225g. Winch: Markey Single Drum. Line Pull: 120ST. Wire Capacity: 2,000' x 2.125". Main Engines: 2 x EMD 16-645E2 total 3,900BHP. 2 - FP(108" x 76") 4 blade prop(s). Bollard Pull: 47.7ST. Speed about 8.5-10kn on 80-95gph. Genset(s): 2 - 60kW / GM6-71 480v 60Hz 3ph.

Firefighting: 1 - 2,700gpm. Quarters: 10 in 5 cabins. Raised pilot house. U.S. Gulf Coast.

File: TG35150 Shallow Draft Tug - Twin Screw - 150.0' loa x 32.0' beam x 13.0' depth x 7.00' light draft x 8.00' loaded draft. Built in 1954. Built at Dravo; Pittsburgh, IL. Panama flag. GRT: 392. Class: ABS (disc.). FO: 45,000g. FW: 12,000g. Winch: Single drum hydraulic. Wire Capacity: 1,500' x 1.75". Main Engines: 2 x EMD 16-567C total 3,500BHP. Bollard Pull: 40T. Speed about 11kn on 60gph. Genset(s): 2 - 75kW / GM6-71; 1 - 75kW / Danyo. Quarters: 8 in 6 cabins. Air Conditioned. Galley. Converted push boat with flat bottom. Reportedly received all

up to date drydocking and is available and ready to go. Bridge eye level 36'. Caribbean.


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File: TG33495 / TG33494 / TG33092 Tug – Azimuthing Tractors (3 each) 94.6' loa x 34.0' beam x 12.5' depth x 17.70' loaded draft. Built in 1982/1982/1985 respectively. Built at Valley Shipbuilding; Brownsville, TX. Bahamas flag. GRT: 302 / 272 / 337 respectively. Class: ABS +A1 Towing Service. FO: 292m3. FW: 20m3. Winch: Intercon SD-200 single drum / GM4-71 powered. Line Pull: 68MT brake. Wire Capacity: 508m x 52mm; 175m x 44mm. Main Engines: 2 x B&W 7S28LU7 total 3,340BHP. Niigata Z-pellers prop(s). Keel cooled. Bollard Pull: 52mt. Speed about 11.5kn on Heavy FO. Genset(s): 2 - 135kW / CAT3306. Firefighting: 225m3/hr pump + 1 monitor. Quarters: 6 persons / 3 cabins. Air Conditioned. Galley. 360 deg. azimuthing props, located forward of midships. Designed for both ship docking and coastal towing. Ship

docking. One or more sisters may be developed in this class. Europe.

File: TG32199 Tug - Twin Screw - 105.3' loa x 29.5' beam x 13.8' depth x 11.80' loaded draft. Built in 2008. Built at Tang Tiew Hee; Malaysia. Singapore flag. GRT: 299. Class: NKK. Deadweight: 212mt. FO: 233T. FW: 22T. BW: 31T. Winch: 40T tow hook. Main Engines: 2 x Cummins KTA50M2 total 3,200BHP. 2 - FP prop(s). Speed about 12kn. Air Conditioned. Available enbloc with 10,000

DWT deck barge DB33072. Southeast Asia.

File: TG32170 Tug - Twin Screw - 105.0' loa x 30.0' beam x 13.7' depth x 11.48' loaded draft. Built in 2007 by ST Shipbuilding Co; Malaysia. U.S. flag. GRT: 296. Class: BV - Ocean. FO: 64,250g. FW: 8,624g. BW: 24T. Winch: Single drum tow with auto spool. Line Pull: 40T. Stern Roller. Main Engines: 2 x Cummins KTA-50-M2 total 3,600BHP. 4 blade Mang. / Bronze prop(s) on 7.5" S/S shaft(s). Kort nozzle(s). Bollard Pull: 42st. Speed about 11kn on 125gph. Genset(s): 2 - 125kW / Cummins 6CTA8.3 415v 3Ph; 1 - 32kW 415v 3Ph. Quarters: 2 single, 5

double. Air Conditioned. Galley. Raised foc'stle. U.S. Gulf Coast.

File: TG32164 Tug - Twin Screw - 101.7' loa x 29.5' beam x 14.1' depth x 11.80' loaded draft. Built in 2006. Built at Sapor Shipbuilding, Malaysia. Singapore flag. GRT: 286. Class: BV 1 I +HULL MACH Tug Unrestricted Navigation SS due 02/2012. Deadweight: 299T. FO: 240m3. FW: 84m3. BW: 58m3. Winch: 1 - 30T Double drum, warping ends; 80T brakes. Line Pull: 42.5MT. Wire Capacity: 700m x 38mm. Main Engines: 2 x Cummins KTA50M2 total 3,200BHP. 2 - FP Manganese Bronze prop(s). Kort nozzle(s). MGO; Range: 9,500nm @ 12kn; Endurance: +/- 33 days. Speed about 10-12kn. Pump(s): Fire 40m3/hr @ 35m. Genset(s): 2 - 78kW / Cummins. Quarters: 15 (3-1, 1-12). Galley. 40T tow hook. 3T capstan.

Tug plus 250' and 300' ocean flat top barge with stanchions avail for charter or sale. Mid East.

File: TG32146 Tug - Twin Screw - 105.0' loa x 32.0' beam x 14.1' depth x 11.40' loaded draft. Built in 2008. Built at Nanjing East Star Shipbuilding. Singapore flag. GRT: 365. Class: BV I Hull Mach tug, Unrestricted Navigation Deck. Deck Cargo: 5T/m2 on 80m2 clear deck. FO: 300m3. FW: 25m3. BW: 43m3. Winch: 1 - 40T tow hook; 1 - 80T tow winch double drum. Stern Roller. Main Engines: 2 x Cummins KT50-M2 total 3,200BHP. 2 - 4 blade prop(s). Kort nozzle(s). Bollard Pull: 40T. Speed about 10-12kn on

8.5T/day. Genset(s): 1 - 269kVA / Cummins 415v 1500rpm. Quarters: 14 berths / 5 cabins. Southeast Asia.

File: TG32113 Tug - Twin Screw - 121.0' loa x 29.3' beam x 14.5' depth x 11.75' loaded draft. Built in 1966. Built at Burton Shipyard; Port Arthur, TX. Rebuilt: 1988. U.S. flag. GRT: 194. Class: ABS loadline only through July 2015. Last drydocked July 2010. Annual Load Line Survey Due 31 Aug 2011. FO: 73,000g. FW: 9,000g. BW: 6,800g. Winch: Smatco 66-HTS-17 single drum. Line Pull: 75st. Wire Capacity: 2,500' x 2". Main Engines: 2 x Fairbanks Morse 8-38D8-1/8 total 3,200BHP. Last Overhauled: 2009. 96" x 60" 4-blade stainless prop(s). Two spare props & two spare shafts. Speed about 12kn free. Pump(s): 150gpm bilge & 150gpm ballast. Genset(s): 2 - 60kW GM6-71 110/220vAC. Quarters: 10 crew in 5 cabins. Fuel capacity 52,000g at load line. Sanitation holding tank. Abt. USD

200 - 250,000 spent at last drydocking. U.S. Northeast.

File: TG32110 Tug - Twin Screw - 108.2' loa x 32.0' beam x 14.1' depth x 11.48' loaded draft. Built in 2011. Built at YCK, Malaysia. Foreign flag. Class: NKK. FO: 300m3. FW: 25m3. BW: 43m3. Winch: 40T elect/hyd + 40T tow hook. Main Engines: 2 x Cummins KTA 50M2 total 3,200BHP. 2 FP prop(s). Kort nozzle(s). Bollard Pull: 40mt. Speed about 11kn trial. Pump(s): BW: 36m3/h @ 30m; GS & fire: 36m3/h @ 30m; FO: 20m3/h @ 30m. Genset(s): 2 - 78kW / Cummins diesel 415v 3ph 50Hz. Quarters: 15 crew. Raised foc'stle bow.

Southeast Asia. Prompt.

File: TG32107 Tug - Twin Screw - 118.0' loa x 36.0' beam x 16.4' depth x . Built in 2010. Foreign flag. Class: BV. FO: 393m3. FW:

100m3. Main Engines: 2 x total 3,200BHP. Bollard Pull: >40MT. Speed about 12kn free. Far East. Prompt.


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File: TG32105 Tug - Twin Screw - 113.2' loa x 31.2' beam x 15.1' depth x . Built in 2010. Foreign flag. GRT: 321. Class: BV. FO:

278m3. FW: 62m3. Main Engines: 2 x total 3,200BHP. Bollard Pull: 40MT. Ocean-going. Two units available. Far East.

File: TG32063 / TG32062 / TG32061 / TG32060 Tugs - Twin Screw (4 each) - 95.1' loa x 29.5' beam x 13.9' depth x 11.48' loaded draft. Built in 2006. Built at Wuhu Dajiang Shipyard. Indonesia flag. GRT: 248. Class: ABS + A1 + AMS Circle E SOLAS BKI. FO: 130MT. FW: 25MT. Winch: 1 - 300kN, 80kN w/ 100T brake; 1 - 40T towhook. Wire Capacity: 700m x 44mm. Main Engines: 2 x Cummins 50 KTAM2 total 3,200BHP. 2 - FP prop(s). Kort nozzle(s). Bollard Pull: 40T. Speed about 12k free. Genset(s): 2 - 99kW Stamford / Cummins 6CT8.3 - D(M) 380v 3ph 50HZ. Quarters: 12 in 6 cabins. Air Conditioned. Sale strictly

"as is, where is" subject to Owners Board of Director's approval. Southeast Asia.

File: TG32052 Tug - Twin Screw - 98.4' loa x 28.2' beam x 13.5' depth x 11.48' loaded draft. Built in 2007. Built at Eastern Marine Shipbuilding. Singapore flag. GRT: 260. Class: GL. Deadweight: 296mt. FO: 200m3. FW: 52T. Winch: HY TWG 30T Tow. Line Pull: 30T. Main Engines: 2 x Cummins KTA-38-M2 total 2,400BHP. 2 FP prop(s). Range 25 days. Bollard Pull: 26T. Speed about 11 kn max on 7.3T/d. Genset(s): 2 - 80kW / Cummins 415vAC. Quarters: 12. Twin Screw tug available for sale ―as is where is‖.

Southeast Asia. Prompt.

File: TG32051 / TG32050 Tugs - Twin Screw (2 each) - 101.7' loa x 31.2' beam x 13.8' depth x 11.48' loaded draft. Built in 2008. Built at Forward Marine Enterprise; Sibu. Singapore flag. GRT: 298. Class: GL. FO: 268T. FW: 46T. Winch: Elect/Hyd. 120T brake. Line Pull: 40T. Main Engines: 2 x Cummins KTA50-M2 total 3,200BHP. FP prop(s). Kort nozzle(s). Bollard Pull: 40T. Speed about 11kn. Genset(s): 2 - 78kW / Cummins 6BT5-9-D9M 415/230v. Quarters: 10.

Southeast Asia.

File: TG32049 Tug - Twin Screw - 105.0' x 32.0' beam x 14.1' depth. Built in 2008 at Nanjing East Star Shipbuilding. Singapore flag. GRT: 365. BV I Hull Mach tug, Unrestricted Nav. FO: 300m3. FW: 25m3. Winch: 1 - 40T tow hook; 1 - 80T tow winch double drum. Stern Roller. Main Engines: 2 x Cummins KT50-M2 total 3,200BHP. 2 - 4 blade prop(s). Kort nozzle(s). Speed about 10-12kn

on 8.5Tpd. Genset(s): 1 - 269kVA / Cummins 415v 1,500rpm. Quarters: 14 berths / 5 cabins. Southeast Asia.

File: TG31103 Tug - Twin Screw - 105.0' loa x 30.2' beam x 15.1' depth x 12.44' loaded draft. Built in 2007. Built at Wuhu Dajiang Shipbuilding, China. Singapore flag. GRT: 296. Class: ABS +A1 Towing Vessel (E) +AMS. Deadweight: 241. FO: 250m3. FW: 40m3. Winch: Single drum el./hyd 100T brake + 50mt SWL tow hook. Line Pull: 40MT. Wire Capacity: 700m x 44mm. Main Engines: 2 x CAT 3512B total 3,194BHP. 2 - FP prop(s). Bollard Pull: 40mt. Speed about 12kn trial on diesel oil. Pump(s): FO: 8m3/h; FW: 36m3/h. Genset(s): 2 - 99kW / Cummins 400vAC 3Ph

50Hz. Quarters: 12 (1-2, 2-1, 4-2). Open for either employment or sale. Southeast Asia.

File: TG30223 Tug - Twin Screw - 105.0' loa x 30.0' beam x 14.0' depth x 11.70' loaded draft. Built in 1975. Built at Halter Marine, Pierre Port, LA. U.S. flag. GRT: 180. Class: ABS Loadline (5yr SS done April 2010 / Exp. 04/06/2015). FO: 50,000g. FW: 5,000g. Winch: Intercon (74073) single drum / GM6-71 power. Line Pull: 80,000lbs. Wire Capacity: 2,600' x 1.75". Main Engines: 2 x Cummins KTA50M2 total 3,000BHP. 91" x 89" 4 blade skewed prop(s) on 8.5" shaft(s). Kort nozzle(s). 10/04 Repowered with Tier 1 diesels. Bollard Pull: 45ST. Genset(s): 2 - 90kW / Power Tech 480vAC 60Hz. Air Conditioned. Galley. ITC 387G / 116N. Foc'stle bow. Quad rudders installed in 2004. New engine & reduction gear foundations, shafts and props, and a lot of new steel work. 5 year Dry-docking &

special survey for ABS Loadline done April 2010. U.S. West Coast.

File: TG30100 Tug - Twin Screw - 93.0' loa x 29.2' beam x 29.2' depth x 11.85' loaded draft. Built in 1983. Built at Delaware Marine / |Park Lane Assoc, DE. Rebuilt: 1993. U.S. flag. GRT: 199. Class: Built to ABS standards, but declassed in 1999 as not required for trade. FO: 40,800g. FW: 3,500g. Winch: Hydraulic capstan aft with fixed bitt. Main Engines: 2 x EMD 12-645E6 total 3,000BHP. 106"x 64" fixed pitch prop(s) on 7" Aquamet shaft(s). Speed about 12kn. Genset(s): 2-75kW Lima /GM 6-71 208vAC 3Ph. Firefighting: Goulds fire & ballast pump. Quarters: 10 men. Air Conditioned. Galley. Heavy rubber fendering. For sale out

of competition "as is, where is". U.S. Gulf Coast.

File: TG30015 Upper Pilothouse Fitted Tug - Twin Screw - 110.0' loa x 34.0' beam x 17.5' depth x 16.00' loaded draft. Built in 1978. Built at Zigler; Jennings, LA. U.S. flag. GRT: 142. Class: ABS +A1, Towing Service, +AMS (exp July 10, 2012). FO: 71,847g. FW: 10,116g. BW: 14,799g. Winch: Single drum / GM4-71 powered. Wire Capacity: 2,000' x 2". Stern Roller. Main Engines: 2 x EMD 12-645E6 total 3,000BHP. 2 - FP prop(s). Kort nozzle(s). Genset(s): 2 - 75kW / GM8V-71. Quarters: 10 in 5 cabins. Air Conditioned. Galley. Upper pilot house. Flanking rudders. Keen seller.


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File: TG28124 Tug - Single Screw - 123.0' loa x 30.0' beam x 18.0' depth x 15.50' loaded draft. Built in 1944. Built at Calumet S/Y, Chicago. Rebuilt: 1984. U.S. flag. GRT: 199. Class: ABS Loadline (exp 21 Jan 2013 / Last Dry-dock July 2010). FO: 70,000g. FW: 1,800g. Winch: Almon Johnson (V-4)/GM3-71. Line Pull: 126,000lb. Wire Capacity: 2,600' x 2.25". Main Engine: 1 x EMD 16-645E5 total 2,850BHP. Last Overhauled: 8/2004. 138" x 106" (5 blade) prop(s) on 11 1/2" shaft(s). 12,528hrs since last overhaul. Bowthruster 550HP/CAT3412. Bollard Pull: 34ST. Genset(s): 2 - 75kW / GM6-71 Lima. Firefighting: Fixed CO2. Quarters: 10 crew. Air Conditioned. Galley. Rounded bilge. Ulstein 360 deg retractable bow thruster (CAT3412 diesel powered). Tow pins. All welded steel construction. Combi-tug. Originally 1/2" steel hull. 27' height of eye. Keel cooling. 22"

aft deck capstan, 2 - 10HP Quincy 340 air compressors. Working . U.S. West Coast.

File: TG28113 / TG28110 Upper Pilothouse Fitted Tugs - Twin Screw (2 each) - 105.0' loa x 30.0' beam x 14.6' depth x 12.50' loaded draft. Built in 1975. Built at Bollinger Machine; Lockport LA. U.S. flag. GRT: 183. Class: ABS + A1 Towing Service + AMS (lapsed), ABS Loadline. FO: 66,070g. FW: 10,000g. Winch: Intercon DD-175D Double drum. Dutch Bar. Line Pull: 145ST max. Wire Capacity: 2,000' x 2.25". Stern Roller. Main Engines: 2 x CAT 3516 total 2,820BHP. FP 4 blade 100" dia. prop(s). Speed about 8.5-10kn on 80-95gph. Genset(s): 2 - 75kW. Quarters: 10 Crew in 5 Cabins. Upper pilot

house. Solid rubber rail fendering. Reportedly good condition. U.S. Gulf Coast.

File: TG28112 Tug - Twin Screw - 111.5' loa x 34.8' beam x 16.3' depth x 13.12' loaded draft. Built in 2003. Built at Sibu, Sarawak; Malaysia. Singapore flag. GRT: 427. Class: GL + 110A5 Tug (with freeboard 0.97m) + MC SOLAS. 11mx9m clear deck. FO: 325m3. FW: 66.3m3. BW: 46m3. Crane: 1 - 2T. Winch: 1 - 40T (40T hook). Wire Capacity: 800m x 44mm. Main Engines: 2 x Mitsubishi S12R-MPTK total 2,800BHP. 2 - FP (Manganese Bronze) prop(s). Kort nozzle(s). Range: 10,500nm @ 12kn. Endurance about 36 days. Bollard Pull: 43MT. Speed about 10-12kn. Genset(s): 2 - 80kW

/ Cummins. Firefighting. Quarters: 17 (1-1, 2-2, 3-4). Air Conditioned. Southeast Asia.

File: TG27117 Tug - Single Screw - 119.7' loa x 32.2' beam x 18.4' depth x 17.06' loaded draft. Built in 1978. Built at Astilleros Mestrina, Argentina. Foreign flag. GRT: 396. Class: Argentina Coast Guard (last D/D 03/2004). Winch: 1 - electrical / tow. Wire Capacity: 600m x 38mm. Main Engines: 2 x MAN V816-18 TL6 total 2,700BHP. FP in nozzle prop. Bollard Pull: 32T. Speed about 10.5kn on 5,000Lpd. Pump(s): 4 - centrifugal 66m3@25m, 2 - bilge 35m3/hr ea. Firefighting: 2 - 120m3@10kg / cm2 ea, 2 -

monitors. Suitable for coastal tows. Two similar tugs available. South America.

File: TG26121 Tug - Twin Screw - 91.8' loa x 26.5' beam x 13.1' depth x 9.80' loaded draft. Built in 1981. Built at Penang Shipbldg. Corp.; Malaysia. Malaysian flag. GRT: 209. Class: BV I Tug, Unrestricted Navigation through 22 March 2014. FO: 110MT. FW: 34MT. Winch: Single drum. Main Engines: 2 x Ruston 6AP230M total 2,614BHP. 2 - Ulstein 3-blade CP prop(s). Kort nozzle(s). Bollard Pull: 33.8T. Speed about 10-12kn on 5Tpd. Genset(s): 2 - 64kW / MWM.

Quarters: 12 crew. Open for employment or sale "as is, where is". Southeast Asia.

File: TG26073 / TG26072 Tugs - Twin Screw (2 each) - 73.8' loa x 26.9' beam x 12.1' depth x . Built in 2005. Built at Ge-Ta Corp; Tuzla, Istanbul, Turkey. Turkish flag. GRT: 156. Class: BV I Tug. Unrestricted Navigation. Special Survey due 09/2011. Deadweight: 277mt. FO: 65.5m3. FW: 13.8m3. Winch: Data single drum + tow hook. Wire Capacity: 40mm x 450m. Main Engines: 2 x Cummins KTA38 total 2,600BHP. 2 - CP prop(s). Kort nozzle(s). Range: 1,920nm. Bollard Pull: 40T. Speed about 12kn. Genset(s): 2 - 90kW / Cummins; 2 - 78kW AC.

Firefighting: 1 - 300m3 pump; 1 - monitor. Quarters: 6 persons. Air Conditioned. Mediterranean.

Prompt.

File: TG25125 / TG25122 / TG25119 Tugs - Twin Screw (3 each) - 91.8' - 93.6' loa x 27.3' beam x 13.3' depth x 10.60' loaded draft. Built in 1982. Built at Penang Shipbldg. Corp.; Malaysia. Malaysian flag. GRT: 209. Class: BV I Tug Unrestricted Navigation, + Mach through 16 April 2014. FO: 110MT. FW: 34MT. Winch: Single drum. Main Engines: 2 x Ruston 6AP230M total 2,580BHP. 2 - Ulstein 3-blade CP prop(s). Kort nozzle(s). Bollard Pull: 33.8T. Speed about 10-12kn on 5Tpd. Genset(s): 2 - 64kW / MWM TD226-6. Quarters: 12 crew. Open for employment or sale "as is,

where is". Southeast Asia. Prompt.


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File: TG25087 Tug - Twin Screw - 87.0' loa x 26.2' beam x 13.5' depth x 9.84' loaded draft. Built in 1982. Built at Dricon Scheepsconstructie; Holland. GRT: 184. Class: BV I 3/3 E Tug Deep Sea (disc. 6/2006) Last DD November 2010. Deadweight: 341T. Light Disp.: 210mt. Deck Cargo: 50mt on FO: 17,000g. FW: 70mt. Winch: No tow winch. 4T capstan. Main Engines: 2 x MWM TBD603T16 total 2,900BHP. Last Overhauled: 2009. Fixed pitch prop(s). Kort nozzle(s). Bollard Pull: 35T. Speed about 10kn cruise on 56gph. Pump(s): 400m3/h fire pump. Genset(s): 2 - 50kVA / GM3-71 220vAC 60Hz 3ph consuming abt. 1gph. Firefighting: Foam: 12m3 Two Skum Mk.15 Foam / Water Fire Monitors. Quarters: Total 13. Air

Conditioned. Galley. Coastwise / harbor tug classed with registry for hull & machinery. Caribbean.

File: TG25085 Tug - Twin Screw - 85.4' loa x 28.0' beam x 11.7' depth x 9.00' light draft x 10.50' loaded draft. Built in 1975. Built at Universal Iron Wks; Houma, LA. Rebuilt: 2008. U.S. flag. GRT: 125. ABS Loadline exp 31 July 2012. FO: 36,470g. FW: 6,632g. Crane: 5T Pitman Hydraulic. Winch: SMATCO (DPW-74). Line Pull: 150,000lb. Wire Capacity: 1,600' x 1.5". Stern Roller. Main Engines: 2 x Cummins QSK38 total 2,500BHP. 4 blade (75" x 72") prop(s). Kort nozzle(s). Repowered with new ME and new gears 2008 / Tier 2 compliant. Genset(s): 2 - 50kW / GM4-71. Quarters: 7. Air Conditioned.

Galley. 2 1/2 level deckhouse. Aft steering station. 45' height of eye. U.S. East Coast.

File: TG24127 Tug - Azimuthing - 90.0' loa x 33.0' beam x 13.0' depth x 17.00' loaded draft. Built in 1994. Built at North American Ship; Larose, LA. U.S. flag. GRT: 147. ABS +A1 Towing Service, +AMS, Unrestricted Service Continuous Hull Survey Due 08/2014. Deadweight: 234lt. FO: 20,000g. FW: 60,000g. BW: 40,000g. Winches: Brattvaag total 3 drums (2 fore + 1 aft). Main Engines: 2 x CAT 3512DITA total 2,400BHP. Ulstein 800H FP prop(s). @ 65,000lb bollard pull fwd & stern. @ 55,000lb bollard pull side-astern. Bollard Pull: 32.5T. Speed about 12kn free. Genset(s): 2 - 150kW / CAT3306. Firefighting: 1 - 3,500gpm monitor. Quarters: 12 in 6 cabins. Air Conditioned. Galley. FW/BW capacities combined. Offered "as is, where is" without any warranties or representations except as to ownership. U.S. Gulf Coast.

File: TG24107 Tug - Twin Screw - 95.1' loa x 28.2' beam x 13.5' depth x 12.20' light draft x 12.20' loaded draft. Built in 1995. Built at Ang Sin Lin S/Y, Singapore. Singapore flag. GRT: 223. Class: ABS. Deadweight: 190T. FO: 195m3. FW: 38m3. Winch: Plimsol Elect. Hyd. 10T. Line Pull: 50T brake. Main Engines: 2 x CAT 3516TA total 2,400BHP. 2 - FP 4 blade prop(s). Bollard Pull: 32T.

Genset(s): 2 - 75kW 415v 50Hz. Quarters: 10 men. Air Conditioned. Southeast Asia.

File: TG22121 Tug - Single Screw - 121.5' loa x 32.0' beam x 16.5' depth x 15.50' loaded draft. Built in 1965. Built at Paceco, Alameda. Rebuilt: 2001. U.S. flag. GRT: 143. Class: Formerly ABS Classed & Loadline, but now under tonnage. FO: 100,000g. FW: 18,000g. Winch: Markey TYSD32 Double Drum. Wire Capacity: 2" x 2,250'. Main Engine: 1 x EMD 16-567D5 total 2,200BHP. 5 blade SS 121.5" x 94-96" prop(s). EMD645 Power Packs / New Bowthruster 2007. Bowthruster 180BHP. Bollard Pull: 30ST. Genset(s): 2 - 60kW / CAT3306 (one replaced 2011). Tow pins / stern roller aft. New bowthruster 2007 and new CAT3306 powered genset installed, plus steel work done on house, under towing winch. New bulwarks and various steel replaced aft.

Open for employment or outright sale. U.S. Northwest. Prompt.

File: TG20118 Tug - Twin Screw - 98.4' loa x 28.2' beam x 13.5' depth x 11.48' loaded draft. Built in 2005. Built at Sealink, Malaysia. Malaysian flag. GRT: 255. Class: BV unrestricted. FO: 160MT. FW: 70MT. Winch: 1 - 80T @ 25T/min SWL/tow, 1 - Capstan. Wire Capacity: 40mm x 600m. Main Engines: 2 x CAT 3508 total 2,000BHP. Bollard Pull: 25T. Speed about 12kn. Genset(s): 2 - 80kW 415/3/50.

Firefighting: C02 system. Quarters: 14 in 4 cabins. Air Conditioned. 30 day endurance. Southeast Asia.

File: TG20096 Tug - Twin Screw - 95.8' loa x 28.0' beam x 14.5' depth x 11.25' loaded draft. Built in 1982. Built at Mipe: Singapore. Singapore flag. GRT: 242. Class: ABS + A1 Towing Service + AMS. FO: 125T. FW: 20T. Winch: Single drum. Line Pull: 25T @ 5m/m. Wire Capacity: 550m x 44mm. Stern Roller. Main Engines: 2 x Stork Werkspoor 6FFHD240 total 2,160BHP. Kort nozzle(s). Endurance 24 days at 75 percent. 6,300nm range. Bollard Pull: 27T. Speed about 11 knots on 6.5Tpd. Genset(s): 2 - 75KW / GM4-71N 415vAC 3PH 50HZ. Quarters: 12 men. Air Conditioned.

Towmaster design nozzles with 6 blade rudders. Keen seller. Southeast Asia.

File: TG20092 Tug - Twin Screw - 88.6' loa x 29.5' beam x 14.1' depth . Built in 2008 at Greek Shipyard. Greek flag. GRT: 216. Class: Russian Maritime Register. Continuous Hull survey 12/2014. Main Engines: 2 x

Cummins KTA38-M total 2,000BHP. 2 prop(s). Bollard Pull: 27T. Salvage tug. Mediterranean. Prompt.


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File: TG20062 Tug - Twin Screw - 88.6' loa x 29.5' beam x 14.1' depth. Built in 2008. Built at Greek Shipyard. Greek flag. GRT: 216. Main Engines: 2 x Cummins KTA38-M1 total 2,000BHP. 2 - FP

prop(s). Bollard Pull: 27T. Mediterranean. Prompt.

File: TG19096 Multicat Style Tug - Triple Screw - 91.8' loa x 41.0' beam x 12.0' depth x 6.20' light draft x 7.50' loaded draft. Built in 2007. Built at Gebr. Kooiman BV; Netherlands. Netherlands flag. GRT: 297. Class: BVI + Hull, Mach Tug Unrestricted Nav AUT-UMS. Special survey due 02/2012. Deadweight: 244mt. 215m3 clear deck. FO: 148m3. FW: 60m3. BW: 52m3. Crane: 2 - HS Marine 20MT @ 13m. Winch: Hydraulic anchor handling / towing forward / aft. Line Pull: 100 / 40MT. Wire Capacity: 100m 56mm /

600m 36mm. Main Engines: 3 x Cummins KTA19M3 total 1,920BHP. 3 - 1,550mm FP prop(s) on C45 steel shaft(s). Kort nozzle(s). 1 - Cummins KTA-19M3 for hydraulics. Bowthruster 350HP. Bollard Pull: 29MT. Speed about 11kn. Pump(s): 50m3/h FO & FW transfer pumps including transfer hoses on reels & indicators. Genset(s): 2 - 80kVA / Cummins 220/380vAC 50Hz + shore power. Quarters: 7 in 4 cabins. Air Conditioned. Galley. Unique, custom multipurpose support vessel / multicat with special characteristics & capacities. Shallow draft. Fully fendered. Four push knees forward and two aft. 360deg hydraulically driven retractable thruster. Triple rudders with max rudder angle of 2 x 70 degrees. Heavily constructed 150 tonne SWL bow and stern rollers. Two 8T tugger winches with 75m 20mm wire. Two hydraulic 150

tonnes SWL guide pins. 15MT SWL Mampaey tow hook. Two 600mm x 15m long spuds. 1,000mm diameter moonpool. Cranes

remotely operated. Store room / workshop. Open for charter. Try outright "as is, where is" purchase. Mid East. August 2011.

File: TG19065 Tug - Twin Screw - 65.0' loa x 23.0' beam x 11.0' depth x 9.50' light draft x 11.00' loaded draft. Built in 1977 at Jones Tug & Barge; Long Beach, CA. U.S. flag. GRT: 95. FO: 19,500g. FW: 800g. Winch: Markey Hydraulic Double drum w/cat head. Wire Capacity: 1.5‖ x 1,500'. Main Engines: 2 x GM 12V149 total 1,350BHP. Last Overhauled: 11/93. 59" x 59" 4 blade Kaplan prop(s) on 5.5" shaft(s). Stainless steel korts. Keel cooled. Speed about 10kn. Genset(s): 2 - 30kW Lima / GM6-71 and GM4-71. Quarters: 4. Steel hull with aluminum two-level deckhouse. 34" high reinforced steel bulwarks reducing aft to 18" around stern. Fully fendered. 2 cat heads, 2 anchor gypsies & wire drum on bow. Both main engines rebuilt in 11/1993. Reduction gears replaced new in 1996. Elevated flying

bridge with control station plus controls aft of engine trunk. Reportedly excellent condition. U.S.

Northwest.

File: TG17079 Tug - Single Screw - 79.3' loa x 26.8' beam x 14.0' depth x 13.40' loaded draft. Built in 1977. Built at AB Asi-Verken, Amal. Danish flag. LR + 100A1 + LMC. Ice Class 1. Coastal Trade. Winch: Tow hook & polypropylene. Main Engine: 1 x Alpha 12V23LVO 1,715BHP. CP prop(s). Bollard Pull: 18.5T. Speed about

13kn free. Genset(s): 2 - 88kW / Saab 390v 50HzAC. Quarters: 3 persons. Northern Europe. Prompt.

File: TG14580 Tug - Twin Screw - 80.0' loa x 22.0' beam x 7.1' depth x . Built in 1970. Built at Pacific Towboat, Long Beach, CA. U.S. flag. GRT: 99. FO: 26,310g. FW: 3,446g. Winch: Single. Wire Capacity: 1,800' x 1.75". Main Engines: 2 x CAT D348 total 1,450BHP. 2 - FP (72" x 46") prop(s).

Genset(s): 1 - Perkins 6-354. Quarters: 6 bunks. U.S. West Coast.

File: TG14100 / TG14096 Shallow Draft Multi-Cat Tugs - Twin Screw (2 each) - 91.8' loa x 36.1' beam x 8.20' loaded draft. Built in 2010. Singapore flag. GRT: 231. Class: GL. Crane: Fassi 98.20MT marine grade. Derrick/A-Frame: A-Frame (hydraulic). Winch: Single Drum 25T tow. Main Engines: 2 x CAT total 1,440BHP. Genset(s): CAT powered. Air Conditioned. Galley. Shallow draft

Multi-Cat design. Draft only 4.9' with 50% liquid capacity. Far East. 3rd Quarter 2011.

File: TG14073 Tug - Twin Screw - 75.0' loa x 25.0' beam x 10.0' depth x 9.00' loaded draft. Built in 1996. Built at Russell Portier; Chauvin, LA. Rebuilt: 2003. U.S. flag. GRT: 117. FO: 26,000g. FW: 8,500g. Winch: Beco DS-50 "Workhorse". Line Pull: 80,000lb. Wire Capacity: 1,800' x 1.5" (2). Main Engines: 2 x CAT 3412D total 1,440BHP. Fixed pitch 82" x 60" prop(s) on 6" shaft(s). Fitted with stern controls. Speed about 12kn (max). Genset(s): 2 - 40kW Delco / GM4-71. Quarters: 5 berths in 3 cabins. Air Conditioned. Hull built by Portier, LA in 1995 & vessel completed at Bollingers in 1996. For sale out

of competition. Working but can develop for sale or lease purchase. U.S. Gulf Coast.

File: TG12355 Tug - Twin Screw - 55.0' loa x 17.4' beam x 9.5' depth x 6.90' loaded draft. Built in 2001. Built at Blount/Barker Shipyard. U.S. flag. GRT: 63. FO: 10,600L. FW: 800L. Winch: 2 - Hyd winches / Pullmaster. Main Engines: 2 x CAT 3412 total 1,230BHP. 4 blade fixed 1,270mm dia prop(s). Bollard Pull: 8.6T. Genset(s): 1 - 32kW / Northern Lights. Firefighting: EMD Griswold HL 3"x2" fire pump. Model bow harbor tug, square pusher bow w/ 14' push knees. All welded steel construction. Open bow, well fendered. Can be shipped overland with house removed, on an "oversized load" basis. For sale outside of So. California. 2009

Survey on file. U.S. West Coast. Prompt.


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File: TG12084 Tug - Twin Screw - 77.1' loa x 8.90' loaded draft. Built in 2010. Built at Southeast Asian Shipyard. Malaysian flag. Class: NKK Unrestricted. FO: 82m3. FW: 25m3. Winch: 20T quick release tow hook. Main Engines: 2 x Cummins KTA 19M3 total 1,280BHP. Speed about 10kn free. Pump(s): 2 - 2" bilge, ballast, general service & fire. 1 - 1.5" fuel oil. Genset(s): 2 - 25kW / Yanmar. Quarters: 10 crew. Air

Conditioned. Galley. Southeast Asia. 30 days.

File: TG12082 Tug - Twin Screw - 80.0' loa x 24.0' beam x 9.5' depth x 8.50' loaded draft. Built in 1966. Built at S.B.A. Shipyards; Jennings, LA (USA). Rebuilt: 2003. U.S. flag. GRT: 145. FO: 25,000g. FW: 8,000g. Winch: Hydraulic single drum. Line Pull: 75,000lbs. Wire Capacity: 2,000' x 1.25". Main Engines: 2 x Cummins KTA 19-M4 total 1,280BHP. Fixed pitch 72" X 76" prop(s) on 6" shaft(s). Replaced GM 16V92s with new Cummins engines. Fitted with stern controls. Genset(s): 2 - 30kW / GM 371. Quarters: 6 berths in 3 cabins. Air Conditioned. Galley. Model bow tug with upper pilothouse with 34' height of eye. For sale out of competition. As brokers only, we invite your best reasonable firm cash offers for owner's

consideration. Working vessel but can be developed for sale. U.S. Gulf Coast.

File: TG11084 Tug - Single Screw - 84.0' loa x 21.5' beam x 10.8' depth x 8.70' loaded draft. Built in 1951. Built at B&W Shipyard; Copenhagen. Danish flag. GRT: 98. Class: Lloyds. +100A1. Ice Class II. Coastal Trade. Main Engine: 1 x B&W 8V23LVO total 1,160BHP. CP prop(s). M/E new '75. Bollard Pull: 12.6T. Speed about 11.5kn. Firefighting: Fifi. Quarters: 4

persons. Northern Europe.

File: TG10071 Tug - Twin Screw - 69.0' loa x 26.0' beam x 9.5' depth x . Built in 1980. Built at Coastal Pilots; Providence, RI. U.S. flag. GRT: 97. Class: No loadline. FO: 22,000g. FW: 2,500g. BW: 12,000g. Crane: hydraulic / telescoping boom. Winch: Bevis hydraulic single drum. 2 tow pins. Wire Capacity: 1,800' 1.5". Stern Roller. Main Engines: 2 x CAT 3412TA total 1,040BHP. Last Overhauled: 1991. 65" x 56" 4 blade stainless prop(s) on 5.25" Stainless shaft(s). Kort nozzle(s). Genset(s): 1 – 30kW / Perkins ; 1 – 20kW / GM3-71. Air Conditioned. Galley. Copy of 1999 Survey

on request. Try best reasonable offers to test. U.S. Northwest.

File: TG10013 Tug - Single Screw - 100.0' loa x 26.0' beam x 9.0' depth x 12.00' loaded draft. Built in 1944. Built at Everett Marine Ways, Everett, WA. Rebuilt: 2002. U.S. flag. GRT: 149. Class: Uninspected Towing Vessel (Last D/D 09/07). FO: 21,000g. FW: 5,700g. Derrick/A-Frame: Boom w/hyd winches. Winch: Hydraulic, Tow. Line Pull: @ 25,000#. Wire Capacity: 1500' 1 5/8"-450' 8" insurance. Stern Roller. Main Engine: 1 x CAT D399TA total 1,100BHP. 80' x 60' 4 blade Bronze prop(s) on 8" steel shaft(s). New Harris alarm system. Bollard Pull: 23,000lb. Pump(s): Elec. Bilge & FO transfer pumps. Genset(s): 1 - 60kW AC / GM4-71; 1 - 20kW AC / GM2-71. Rewired to AC 2002. Firefighting: Bronze Gear Pump off aux. Quarters: 6 in 4 staterooms. Galley. Welded steel. Prefers sale out of the Pacific Northwest. Ex-YTM-763. 500' 1-5/8" wire under rider. Completed all new wheelhouse with aluminum windows & doors, new exhaust funnel & piping with

circ fan. New galley. 2007 survey on file. U.S. Northwest. Prompt. File: TG09538 Tug - Twin Screw - 38.6' loa x 15.0' beam x 9.6' depth x 9.60' loaded draft. Built in 1974. Built at Campbell Ind. U.S. flag. GRT: 23. Main Engine: 2 x GM 60 series total 950BHP. Last Overhauled: 2004. 2 - 58" x 41" Alloy prop(s) on 4" S.S. shaft(s). All steel construction. Harbor assist tug. Keel coolers. Tow bitt, capstan on fore deck, upper conning position above small pilot house. Full fendering. U.S. West Coast.

File: TG09047 Tug - Twin Screw - 47.3' loa x 14.4' beam x 8.0' depth x . Built in 1960. Built at John J. Reich-Elizabeth, NJ. Rebuilt: 2005. U.S. flag. GRT: 32. FO: 2,500g. FW: 200g. Winch: Single Drum hydraulic / soft line. Main Engines: 2 x GM Series 60 total 950BHP. 52" x 34" bronze 3 blade prop(s) on 4" stainless shaft(s). Genset(s): 1 - 20kW Delco / Northern Lights 843. Galley. Welded steel construction. 1/2" hull and deck plating. Keel coolers. Aft steering station. Engines regularly serviced, good condition and well maintained.

U.S. West Coast.

File: TG08055 Tug - Twin Screw - 55.0' loa x 17.9' beam x 6.5' depth x 6.25' loaded draft. Built in 1957. Built at Glaser Const Delcambre, Los Angeles. Rebuilt: 2006. U.S. flag. GRT: 61. FO: 11,000g. FW: 4,000g. Winch: Single drum. Line Pull: 9T. Wire Capacity: 1,200' x 1.25". Main Engines: 2 x GM Series 60 total 950BHP. Last Overhauled: 2006. 2 - 51"x44" 4 blade bronze prop(s) on 4.5" SS shaft(s). Low hours / Tier II EPA Rating. Genset(s): 2 - 20kW / GM2-71. Quarters: 9 crew. Air Conditioned. Galley. Model bow. 2-Patterson Electric barge winches. Non compete clause for

local market. Reportedly in good condition. Repowered and extensively refurbished in 2006. U.S.

West Coast.


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File: TG07474 Tug - Twin Screw - 74.9' loa x 19.7' beam x 11.8' depth x 8.50' loaded draft. Built in 1966. Built at Smedvik Mek Verksted; Norway. Foreign flag. GRT: 81. Class: DNV +1A1 R 280 Ice "C". Winch: Towing Hook. Main Engines: 2 x GM total 745BHP. 2 - CP prop(s). Speed about 11kn. Genset(s): 2 -

48kW / GM2-71. Quarters: 5 persons. Galley. Former guard ship. Northern Europe.

File: TG07060 Tug - Twin Screw - 60.0' loa x 21.0' beam x 7.0' depth x 7.00' loaded draft. Built in 1956. Built at Claya J. Adams, Cut Off, LA. Rebuilt: 2002. U.S. flag. GRT: 75. 50 clear deck. FO: 17,000g. FW: 3,500g. Winch: Bow Winches. Main Engines: 2 x GM 12V71 total 680BHP. 60" x 48" prop(s) on 5" shaft(s). 05/03 - Zero hours. Speed about 10mph. Genset(s): 2 - 50kW / GM 3-71 210/110v AC. Quarters: 3 double berths in 2 rms. Air Conditioned. Galley. Steel hull. Extensively rebuilt with new bottom & all

machinery new or overhauled, etc. in 2002. U.S. Gulf Coast.

File: TG07054 Tug - Single Screw - 59.7' loa x 15.3' beam x 8.5' depth x 8.20' loaded draft. Built in 1960 at Burmeister & Wain SY; Copenhagen. Foreign flag. GRT: 40. Class: Danish Maritime Authorities Coastal Trade. Winch: Tow hook & polypropylene line. Main Engine: 1 x CAT 3412 total 650BHP. FP prop(s). Main engine installed 1994. Bollard Pull: 6-7mt. Speed about 10kn max.

Genset(s): 2 new diesel auxiliaries & AC power in 1994. Quarters: 4 persons. Try offers. Northern Europe.

File: TG06880 Tug - Twin Screw - 80.6' loa x 21.2' beam x 9.6' depth x 4.00' light draft x 5.30' loaded draft. Built in 1954 Olson Shipyard; Chicago, IL. U.S. flag. GRT: 137. FO: 25,350g. FW: 3,520g. Winch: E-2000 March Tow winch (new in 2,000). Wire Capacity: 1,200' x 1.25". Main Engines: 2 x CAT 3406 total 730BHP. Last Overhauled: 2002. 2 - 36" x 18" 3 blade SS prop(s). Kort nozzle(s). M/E repower 2002. Genset(s): 2 - 30kW / GM2-71 120/209v. Quarters: 5 in 3 cabins. Galley. All steel construction, shallow draft, tug with push knees forward. Deckhouse located amid-ships. Height of eye: 25', Air draft of 5'3". M/Es new & Kort nozzles installed 2002

& new push knees & general refurbishment. Stored out of water. U.S. Northwest. Prompt.

File: TG04049 Tug - Twin Screw - 47.0' loa x 15.7' beam x 6.60' loaded draft. Built in 1967. Built at Mangone Shipbuilding. U.S. flag. GRT: 37. Class: USCG Last D/D 2006. FO: 3,800g. FW: 1,200g. Winch: 4 - 20T manual. Main Engines: 2 x GM 6-71 total 360BHP. 2 - 40" x 29" 4 blade prop(s). Speed about 7.5kn. Genset(s): 2 - 20kW; 2 - 53, 220 / 110. Firefighting: Fixed fire detection system. Quarters: 2 berths. Galley. Twin screw model bow tug. Steel construction. Single push knee. Rebuilt gears, new propeller blades, fire detection system and upgraded galley and electronics in 2007. Vessel reported in excellent condition for her age.

Height of eye 19'. 2006 audio gauges & D/D photos available upon request. U.S. East Coast. Prompt. $165,000.

File: TG04045 Tug - Single Screw - 45.0' loa x 15.0' beam x 6.0' depth x . Built in 1945. Built at Sturgeon Bay Shipbuilding. U.S. flag. GRT: 27. FO: 800g. Winch: H-Bitt on stern with 2 - electric aft. Main Engine: 1 x GM 6110 total 450BHP. CAT3304 (150HP) Z drive. Genset(s): 3,000watt inverter. Firefighting: 1 - Monitor 500gpm. Quarters: Day bunk. Single screw tug with 150HP Z-drive forward (CAT3304). Fly bridge, chart plotter. Top sides painted in 2008. Very maneuverable, good working boat. Has been

working on contract with gravel barges in Puget Sound. U.S. Northwest.

File: TG01025 Tug - Single Screw - 25.7' loa x 8.5' beam x 3.70' loaded draft. Foreign flag. Deadweight: 2T. Light Disp.: 5,673T. Main Engine: 1 x John Deere 4045 TFM M2 total 120BHP. 26" fixed pitch prop(s) on Stainless steel shaft(s). Speed about 7kn. Type Tomboy 26. Open workboat.

Europe. By Arrangement.

Featured AHTSs Direct From Owners File: SU22080 Supply Boat - 220.8' loa x 55.8' beam x 21.3' depth x 18.04' loaded draft. Built in 2011. Malaysian flag. GRT: 1,000. Class: ABS +A1 +AMS (E) +ABCU, DPS2, SOLAS. Deadweight: 1,500mt. Deck Cargo: 500MT on 462m2 clear deck. FO: 850m3. FW: 510m3. DW: 250m3. Dry Bulk: 200m3 in 4 tanks. Liq. Mud: 200m3. Winch: 1 - Double Drum Elec/hyd AH 250MT brake. Line Pull: 180MT. Stern Roller. Main Engines: 2 x Yanmar total 6,960BHP. 2 - CP 4 blade prop(s). Kort nozzle(s). Bow & stern (2) thrusters at 8mt each; 9240nm range. Bowthruster 8T. Dynamic Positioning. Bollard Pull: 80MT. Speed about 11-13kn. Genset(s): 3 - 380kW. Firefighting: FiFi 2 - 1200m3 monitors. Quarters: 6-1, 6-2, 13-4 berths. Air Conditioned. Galley. Passengers: 70 total. 2 - 10T tugger winches, 2 - 5T capstan. 6 -

reefers connection. Kamfork shark jaws / towpins. 2 - Independent rudders. Life saving equipment as per SOLAS. Southeast Asia.


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File: SU20743 Supply Boat - AHTS - 207.0' loa x 43.3' beam x 19.8' depth x 16.40' loaded draft. Built in 1981. Built at Astilleros de Huelva S.A.; Spain. Foreign flag. GRT: 1,171. Class: RINA 100 A 1.1 Nav. I.L. Rec. Oil. Continuous Hull survey due 08/2012. Deadweight: 1,243T. FO: 446m3. FW: 70m3. DW: 453m3. Crane: 1 - 8T x 14m hydraulic. Winch: Double drum 126mt brake. Wire Capacity: 1150m / 700m x 64mm. Stern Roller. Main Engines: 2 x Deutz RSBV8M540 total 8,800BHP. Navalips CP prop(s). Kort nozzle(s). Main engine mfg. Hijos de J. Barraras 4SA 8cyl 370 x 400. Bowthruster 2 - 400BHP. Bollard Pull: 110mt. Speed about 14.5kn. Genset(s): 3 - 362kW / Badouin; 1-70kW 380vAC 50Hz. Firefighting: 1-1,300m3/h @ 120m monitor; 45m3 foam. Quarters: 10-1, 5-4 berth. Equipped for oil recovery, FiFi -1 and as stand-in communications center for rescue / standby operations. Can perform deepwater anchor handling. Lifter for anchor handling. 2 tugger winches. Two folding bitts. 144m3 chain locker. 45m3 dispersant. 218m3 recovered oil. 400m Mannesman oil booms. 200m Vikoma oil booms. OCS skimmer 50/220m3. Vikoma 30 skimmer. Vessel has been engaged in light standby duty for many years with low engines hours (Main engines: Port: 35,360 hours / Stbd: 34,930 hours). Owners replaced substantial steel in 2008/2009 (costing about Euro 1m) and have a RINA statement which has her conventional age reduced by 14 years given her condition. The vessel is currently in

class and fully operational. Please note this vessel is not fitted with liquid mud or drybulk Mediterranean.

File: SU19743 Supply Boat - AHTS - 198.4' loa x 43.8' beam x 20.0' depth x 16.20' loaded draft. Built in 1975. Built at Schichau-Unterweser; Germany. Belize flag. GRT: 1,190. Class: RINA.100 A.1.1 Nav. I.L., Re. AP. IA12, Ice Str., Continuous Hull Survey due 09/2012. Deadweight: 1,116mt. Deck Cargo: 800mt on 37.0m x 10.97m clear deck. FO: 827m3. FW: 236m3. DW: 480m3. Dry Bulk: 267m3. Liq. Mud: 252m3. Crane: 1-5mt & 1-2.5mt Norwinch. Winch: Norwinch Double Drum. Line Pull: 150T. Wire Capacity: 1,000m 57mm / 250m 48mm. Stern Roller. Main Engines: 2 x MAK 9M453AK total 6,000BHP. CP prop(s). Kort nozzle(s). Bowthruster 320HP. Bollard Pull: 58mt. Speed about 11-14.5kn. Pump(s): FO-150m3/hr; FW-130m3/hr.; DW-170m3/hr, Mud 30m3/hr. Genset(s): 3-450kVA / CAT D379, 1-92.5 kVA / Deutz 440vAC 60Hz. Quarters: 12 crew. Air Conditioned. Galley. Passengers: 16. 2 dedicated under-deck rig chain lockers. Capable of carrying 80 joints of 32" pipe. Fitted with special anchor chain & equipment for 200m water depths. 2-10mt tuggers. 2-5mt capstans. Spare wire capacity 1,200m 57mm. Fuel capacity includes the dual purpose liquid

mud tanks. 2-8m pollution control spray booms with 15mt dispersant tank. 2 person Hospital. Sale "as is, where is". Mid East.

File: SU19700 Supply Boat - AHTS - 197.0' loa x 42.7' beam x 19.7' depth x 16.30' loaded draft. Built in 1983. Built at Ast. de Murueta; Gernika-Lumo, Spain. Egyptian flag. GRT: 1,113. Class: GL+100 A5 "E" Supply Vessel Tug +MCE, AUT-Z. Continuous Hull Survey due 05/2013. Deadweight: 1,100mt. Deck Cargo: 650ST on 36.4m x 10.8m clear deck. FO: 424m3. FW: 217m3. DW: 321m3. Dry Bulk: 170m3 in 4 tanks. Crane: 1-1,500kg (Elect). Winch: Norwinch double drum waterfall. Line Pull: 150T. Wire Capacity: 320m / 1,275m 56m. Stern Roller. Main Engines: 2 x MAK 9M435AK total 6,120BHP. Lips CP prop(s). Kort nozzle(s). Bowthruster 550HP. Dynamic Positioning. Bollard Pull: 70MT. Speed about 11-14kn. Pump(s): FO:150m3/h; DW:170m3/h; FW:130m3/h; Bulk: 45mt/h @ 6 bars; Liq.Mud 2x50m3/h. Genset(s): 3 - 350kVA Indar / Guascor E202TA 440vAC. Firefighting: FiFi 1. 2-1,200m3/h water / foam monitors. Foam capacity 15m3. Quarters: 36 berths in 11 cabins. Air Conditioned. Galley. 2-95m3 chain lockers. Wildcats for 2.5 - 4" chain. 2-8T tugger winches. 1-5T capstan. 100T shark jaws. 2 hydraulic tow pins. Spare wire capacity 1,275m 56mm Dual purpose recovered oil / liquid mud / fuel capacity 321m3. Konsberg Simrad SDP-II DP system with 2 gyros, 2 wind sensors, 2 motion reference units, DGPS with spot beam, and 3 axis control independent joystick installed 2000. 2-6m long spray booms with 20m3

dispersant. Sale "as is, where is". Mid East.

File: SU19346 Supply Boat - AHTS - 193.5' loa x 40.1' beam x 18.4' depth x 12.60' light draft x 14.00' loaded draft. Built in 1975. Built at Bolsnes Werft, Norway. Panama flag. GRT: 990. Class: IMB (International Maritime Bureau) through June 2012. Drydocked November 2009. Deadweight: 942mt. Deck Cargo: 570T on 111' x 32' clear deck. FO: 236,168g. FW: 58,646g. DW: 736MT. Dry Bulk: 6,000ft2 in 4 tanks. Winch: Brattvaag Double Drum 80T. Line Pull: 80T x 2. Wire Capacity: 1,200m 2 - 2. Stern Roller. Main Engines: 2 x Nohab F216V825 total 7,040BHP. 2 - Liaaen CP prop(s). Kort nozzle(s). Bowthruster 600HP. Bollard Pull: 80MT. Speed about 12.5-14.5kn on 12-26tpd. Genset(s): 2 - 275kW / GM; 1 - 192kW / Mercedes Benz 440vAC 60Hz. Quarters: 12 crew. Air Conditioned. Galley. Passengers: 18 supernumeraries. UT 704 standard design. Photos, 2009 drydock work summary, copies of certificates on request.

Sale "as is, where is". Marcon previously sold this vessel in 1991. U.S. Gulf Coast.


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File: SU19148 Supply Boat - AHTS - 194.0' loa x 40.0' beam x 15.0' depth. Built in 1983 at Eastern Marine; Panama City, FL. U.S. flag. GRT: 275. ABS + A1, AMS, E Towing Service exp. Mar ‗08. Deadweight: 1,132T. 770LT on 108' x 31' deck. FO: 77,040g. FW: 12,000g. DW: 163,560g. Dry Bulk: 5,400ft3. Liq. Mud: 1,600BBL. Winch: Smatco 66 DAW 200 Double Drum +5T tugger. Wire Capacity: 2,550' x 2.25". Stern Roller. Main Engines: 2 x EMD 16-645E7D3A total 4,500BHP. Bowthruster 300HP. Bollard Pull:

40.8T. Genset(s): 2 - 99kW 450v 60Hz. Firefighting. Quarters: 18. Sale "as is" out of competition. U.S. Gulf Coast.

File: SU19030 Supply Boat - AHTS - 190.0' loa x 40.0' beam x 14.0' depth. Built in 1982 at Quality Shipyards Inc.; Houma, LA. GRT: 734. ABS + A1 (E), AMS Towing. Special Survey due 10/2012. Deadweight: 914mt. Deck Cargo: 556.80MT on 274.5m2 deck. FO: 364.5m3. FW: 129.4m3. DW: 172.4m3. Dry Bulk: 113.2m3 in 4 tanks. Liq. Mud: 266.2m3. Winch: Intercon Double drum waterfall DW200 + 4.5T tugger. Stern Roller. Main Engines: 2 x GM 16-645E6 total 3,900BHP. Bowthruster 300BHP. Bollard Pull: 35.3MT. Speed about 8-13kn. Pump(s): FO: 90m3/h; DW: 90m3/h; Bulk: 29m3/h; Liqmd: 125m3/h. Genset(s): 2 - 99kW / GM 8V71

440vAC 60Hz. Firefighting: 1 - 500m3/h @ 61m monitor. 17 berths. 10m anti-pollution booms. Mid East.

File: SU18538 Supply Boat - AHTS - 185.0' loa x 38.1' beam x 16.0' depth x 13.02' loaded draft. Built in 1982. Built at Mangone Swiftships; Houston, TX. Italian flag. GRT: 753. Class: RINA 100 A 1.1 - Nav. I.L.; Re; Ap (PI). Deadweight: 881mt. Deck Cargo: 330MT on 290m2 clear deck. FO: 385m3. FW: 112m3. DW: 166m3. Dry Bulk: 102m3. Liq. Mud: 144m3. Winch: SMATCO 66 DAW-200 Double Drum w/f. Line Pull: 136T. Wire Capacity: 2,952' x 2" ea. Stern Roller. Main Engines: 2 x EMD 16-645E2 total 4,012BHP. Liaaen CP prop(s). Bowthruster 350HP. Dynamic Positioning. Bollard Pull: 45T. Speed about 9-14kn on 6-12MT/d. Pump(s): FO: 97m3/h; DW/FW: 97m3/h; Liqmud: 50m3/h. Genset(s): 2 - 125kW; 1 - 150kW. Firefighting: 2 Fire monitors

(200m3/hr ea). Quarters: 5-1; 3-2 berth cabins. Air Conditioned. Galley. Passengers: 6 beds. Mediterranean. Prompt.

File: SU18142 Supply Boat - AHTS - 180.0' loa x 38.0' beam x 14.0' depth x 10.50' loaded draft. Built in 1975 by American Marine. Rebuilt: 1998. ABS + A1. Towing + AMS. Last Drydock 03/08. Deadweight: 550T. Cargo: 480LT on 105' x 30' deck. FO: 366MT. FW: 144.7MT. DW: 227.7MT. Dry Bulk: 4,000ft3. Crane: 2T. Smatco DAW-66 double drum waterfall + tugger. Wire Capacity: 144.8/695m 2". Stern Roller. Main Engines: 2 x EMD 16-567BC total 3,280BHP. Bowthruster 210HP. Bollard Pull: 40MT. Speed about 12-14kn. Genset(s): 2 - 75kW / GM6-71 & 1 - 100kW / GM6V71. Firefighting monitor. Galley. Passengers: 6. Vessel totally rebuilt October '98. Stern roller (10'x3'). Interested in longterm charter or outright sale. Rebuilt 1998 with abt. 80T steel renewal & completely refurbished. Drydocked in Pan 12/08 under ABS supervision. No outstanding items, reported excellent condition. Completed USD 600K of equipment upgrade during 12/08 drydock. Drybulk

tanks/system not operational. Southeast Asia. Prompt.

File: SU17328 Supply Boats – AHTS (2 each) - 173.2' loa x 43.3' beam x 17.1' depth x 14.76' loaded draft. Built in 2010 by Nantong MLC Tongbao Shipbldg. Malaysian flag. GRT: 1,100. ABS + A1(E) Towing & OSV, + AMS. Deadweight: 800mt. 275m2 deck. FO: 550m3. FW: 360m3. BW: 290m3. Crane: 1 - 3T @ 14m SWL. Winch: Double drum waterfall break 180T brake; 2-10T tuggers; 2-5T capstans. Line Pull: 100MT. Wire Capacity: 1,000m x 52mm. Stern Roller. Main Engines: 2 x Cummins QSK60-M total 4,400BHP. 4-blade 2,800mm fix pitch prop(s). Kort nozzle(s). Bowthruster 5MT. Bollard Pull: 50T. Speed about 11.2kn max on 12MT/d @max. Pump(s): 1 – 1,200m3/hr @ 12bar. Genset(s): 3 - 315kW / Cummins / 415v / 50Hz / 3p; 1 -

65kW / Cummins. Firefighting: FiFi 1/2: Monitors: 2 – 1,200m3/hr with foam, 4.42m3 foam. Quarters: 37 (3-1, 3-2, 7-4). Passengers: 2 hospital. Undergoing sea trials. 5mt @ 15m/min electro-hydraulic storage reel. 200mt shark jaws (28-75mm chain &

50-765mm wire). 2-200mt hydraulic tow pins. Rescue Zone. 2 dispersant nozzles forward. Southeast Asia.

File: SU17302 Supply Boat - AHTS - 173.4' loa x 36.9' beam x 13.0' depth x 11.00' loaded draft. Built in 1966 at J.G. Hitzler;, Germany. GL + 100A5 (E) Offshore Supply Vessel, FS Ice Class II. Continuous Hull Survey due 07/2013. Deadweight: 819mt. Deck Cargo: 329mt on 30m x 8m clear deck. FO: 117.7m3. FW: 127m3. DW: 307m3. Dry Bulk: 3,240ft3 in 6 tanks. Derrick/A-Frame: 44,000lbs. A-Frame. Winch: Single drum heavy duty. 66,000lbs SWL. Stern Roller. Main Engines: 2 x MWM TB12RS18/22 total 1,900BHP. Fixed pitch prop(s). Bowthruster 120HP. Bollard Pull: 18.7ST. Speed about 8-11kn on 9.3T. Pump(s): FO: 8,982gph; FW: 10,567gph; DW 21,134gph. Genset(s): 3-102.5kW / MWM 220/380vAC 50Hz. Firefighting: 2-400gph water / foam monitors on bridge wings. 2,000gpm foam. Quarters: 10 crew (4-1, 3-2). Air Conditioned. Passengers: 14 pax (2-4, 1-6).

66,000SWL towing padeye fitted. Anti pollution equipment. Sale "as is, where is". Mid East.

File: SU16439 Supply Boat – AHTS 164.0' x 43.3' beam x 17.1' depth. Built 2010. GRT: 1,050. Deadweight: 800T. FO: 600m3. FW: 215m3. Winch: Brake 200T; 2 - 5T capstan; 2 - 10T tugger; Shark jaw, Tow pin: 200T. Line Pull: 150T. Stern Roller. Main Engines: 2 x CAT 3516BHD total 5,150BHP. FP prop(s). Bowthruster 5T. Bollard Pull: 62MT. Speed about 12.5kn. Genset(s): 3 -

245kW / CAT; 1 - 65kW / Cummins. FiFi: 2 - 600m3/hr; water curtain. Quarters: 38 (4-1, 1-2, 8-4). Far East. Prompt.

List of conventional, azimuthing or tractor tugs & AHTSs available for charter on request.

Further details on these and other tugs and barges are available on our website at www.marcon.com.

tug boat market report - may 2011.pdf

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