FORTLAUDERDALE, Fla., and SAN DIEGO
- General Dynamics NASSCO, awholly owned subsidiary of General Dynamics (NYSE: GD), has entered into acontract with Seabulk Tankers, Inc., a wholly owned subsidiary of SEACORHoldings Inc. (NYSE: CKH), for the design and construction of one 50,000deadweight ton LNG-conversion-ready product carrier with a 330,000 barrel cargocapacity, plus an option for one additional vessel. Construction is scheduledto begin in 2015, with delivery scheduled for the fourth quarter of 2016. Thisnew tanker will be constructed at the NASSCO shipyard in San Diego, meeting theJones Act requirement that ships carrying cargo between U.S. ports be built inU.S. shipyards.This new 610-foot-long tanker is a continuationof the ECO MR tanker design, which delivers improved fuel efficiency andincorporates the latest environmental protection features, including a BallastWater Treatment System. Including this order, NASSCO is now under contract forthe design and construction of seven tankers, plus an option for one additionalvessel. In September, NASSCO entered into a contract with Seabulk for twotankers of the same design. That order was preceded by a contract in May forfour vessels from American Petroleum Tankers.These seven ships are being designed by DSEC, asubsidiary of Daewoo Shipbuilding & Marine Engineering (DSME) of Busan,South Korea. DSEC's ECO design achieves improved fuel efficiency throughseveral features, including a G-series MAN ME slow-speed main engine and anoptimized hull form. The tankers will have conversion-capable,dual-fuel-capable auxiliary engines and the ability to accommodate the futureinstallation of an LNG fuel-gas system and Type C LNG tanks.Kevin Graney, vice president and general managerof General Dynamics NASSCO, said, 'NASSCO remains committed to bringing themost economical and environmentally sound technology to Jones Act owners andoperators. We are very pleased to extend our partnership with SEACOR through athird and potentially a fourth ECO tanker. This follow-on order is a clearindication that NASSCO is the shipyard of choice for Jones Act tankers.'Charles Fabrikant, executive chairman of SEACORHoldings, commented, 'We are pleased to expand our relationship with NASSCOwith this additional Jones Act tanker order. These ECO tankers will play avital role in offering Seabulk's customers some of the most modern and fuelefficient vessels available as they determine their Jones Act transportationrequirements for crude oil and refined products over the coming years.
'For more information about General DynamicsNASSCO, please visit www.nassco.com. More information about General Dynamics isavailable online at www.generaldynamics.com.For more information about Seabulk Tankers,Inc., please visit www.seabulktankers.com. More information about SEACOR isavailable at www.seacorholdings.com.