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Bollinger to Build 28,000 BBL Double Hull OPA'90 Lakes, Bays and Sounds Tank Barge for Progressive Barge Line, Inc. - Friday, February 10, 2006

Lockport, LA., February 10, 2006 - Bollinger Marine Fabricators, LLC, (BMF) Amelia, La., a Bollinger Shipyards, Inc. company, has signed a contract with Progressive Barge Line, Inc., New Orleans, La. for the construction of a leading edge double hull OPA '90 Lakes, Bays and Sounds tank barge.

The Bollinger hull # 505, will have capacity of 28,000 barrels (BBL) and is a near sister ship to four similar hulls also under construction at the active BMF facility for another operator. Elliot Bay Design Group performed the design and engineering package in support of Bollinger. Terms of the contract were not disclosed.

Hull #505 will be built primarily for bunkering services on the Mississippi River and throughout the port of New Orleans. The barge will be built in accordance with American Bureau of Shipping rules and certified by United States Coast Guard for rivers, lakes, bays and sounds service for carriage of Grade A products and below. It will be subdivided into six (6) cargo tanks, each with pipe coils for heating cargo. The heater system will be a 4 million BTU Hopkins Volcanic, with 2 inch piping coils lining the bottom of each cargo tank for optimum heat distribution.

The 28,000 BBL capacity barge will measure 297.6-feet in length, with a 54-foot beam and 13-foot depth. Delivery is planned for the third quarter of 2006.

Progressive Barge Line, Inc. is the owner operator of tugs and barges operating mainly on the lower Mississippi river region, based out of Westwego, Louisiana.

Bollinger Shipyards, Inc., is a leading provider of offshore oil field support vessels, OPA'90 tank barges, tugs, drilling rigs, liftboats, fast 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 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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