FORT LAUDERDALE, Fla., andSAN DIEGO

- General DynamicsNASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), has enteredinto a contract with Seabulk Tankers, Inc., a whollyowned subsidiary of SEACOR Holdings Inc. (NYSE: CKH), for the design andconstruction of two 50,000 deadweight ton LNG-conversion-ready product carrierseach with a 330,000 barrel cargo capacity. Construction of the first tanker isscheduled to begin in late 2014, with deliveries scheduled for the secondquarter of 2016 and first quarter of 2017. The tankers will be constructed atthe NASSCO shipyard in San Diego.These new 610-foot-long tankers are a continuation of the ECO tankerdesign, which offers improved fuel efficiency and incorporates the latestenvironmental protection features, including a Ballast Water Treatment System. Withthis order from Seabulk, NASSCO is now under contract for the design and constructionof six ECO MR tankers. In May, NASSCO was contracted by another customer tobuild four vessels of the same design.The ships will be designed by DSEC, a subsidiary of DaewooShipbuilding & Marine Engineering (DSME) of Busan, South Korea. DSEC’s ECOdesign achieves improved fuel efficiency through several features, including aG-series MAN ME slow-speed main engine and an optimized hull form. The tankerswill have conversion capable dual-fuel-capable auxiliary engines and theability to accommodate the future installation of an LNG fuel-gas system andType C LNG tanks. These additional tankers represent the continuation ofNASSCO’s successful partnership with DSEC. This contract will be the fourth commercialcollaboration between NASSCO and DSEC.Fred Harris, president of General Dynamics NASSCO, said, “Thiscontract is an indication that NASSCO remains fully committed to continuing to bringthe most economical and environmentally sound technology to Jones Act ownersand operators. We are very pleased to begin a new partnership with SEACOR andlook forward to delivering two high-quality vessels that will serve SEACOR inthe Jones Act tanker market for decades.”

 

The construction and operation of the new vessels meet Jones Act requirementsthat ships carrying cargo between U.S. ports be built in U.S. shipyards.Charles Fabrikant, executive chairman of SEACOR Holdings, said, “Ourdecision to build these two new tankers is a clear demonstration of ourcontinued commitment to the Jones Act. We are very excited that we will be ableto offer this new ECO friendly design to charterers.”

 

For more information about General Dynamics NASSCO, please visit www.nassco.com. More information aboutGeneral Dynamics is available online at www.generaldynamics.com.For more information on SEACOR, please visit www.seacorholdings.com.