Press Release - Dec 28, 2007

BOLLINGER AND BOUCHARD SIGN CONTRACTS FOR THREE OPA'90 TANK BARGES

Work in progress at one of Bollinger’s OPA’90 barge building facilities continues on schedule, as the backlog increases with the signing of two 60,000 and one 80,000 BBL offshore units for Bouchard.

Lockport, LA., Dec 28, 2007 - LOCKPORT, La., Bollinger Gretna, L.L.C., and Bollinger Marine Fabricators, L.L.C., two Bollinger Shipyards, Inc. facilities, have signed contracts for new construction of three OPA’90 compliant tank barges, consisting of one (1) 80,000, and two (2) 60,000 barrel (BBL) units for Bouchard Ocean Services, L.L.C., Melville, N.Y.    

The 80,000 BBL tank barge, which will be built at Bollinger Gretna, L.L.C., in Harvey, Louisiana, is a manned ocean, clean oil barge measuring 399-feet long, with a 74-foot beam and a depth of 28-feet.  Named the B. No. 284, it is a sister ship to Bollinger’s recently delivered B. No 282.  The barge is built to meet the requirements of the Oil Pollution Act of 1990 (OPA’90), with twelve (12) cargo compartments and three (3) separate pumping systems.

The two (2) 60,000 BBL tank barges, which will be built at Bollinger Marine Fabricators, L.L.C., in Amelia, Louisiana, are manned ocean, clean oil barges measuring  350-foot long, with a 70-foot beam and a depth of 25-feet.  Named B. No. 262 and B. No. 264, they are near sisters to the B. No. 260, currently in production at Bollinger Gretna.  The barges are being built to meet the requirements of the Oil Pollution Act of 1990 (OPA’90), with ten (10) cargo compartments and two (2) separate pumping systems.

Morton S. Bouchard, III, President/CEO of Bouchard Affiliates (Bouchard Transportation Co. Inc./ Bouchard Coastwise Management / Bouchard Ocean Services) said, “We are pleased to have come to an agreement with Bollinger for the next segment of Bouchard’s double hull program. These three barges will be built to the highest standards in the industry that both Bouchard and our customers demand. These three barges will provide our existing and new customers with the safety and efficiency that they demand.”  Mr. Bouchard went on to say, “Bouchard looks forward to future contracts with the Bollinger family.”

Founded in 1918, Bouchard Transportation Co., Inc., and Bouchard Coastwise Management Co. (www.bouchardtransport.com) is a total service oil barging company. The Bouchard fleet includes 29 barges ranging from 25,000 BBL to 252,000 BBL and 19 tugs with power ratings from 3,000 to 10,000 horsepower. They serve the U. S. East, Gulf and West Coasts, the Great Lakes, and the Caribbean.

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

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