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SENESCO Signs $6.5 Million Barge Building Contract

Maritime Activity Reports, Inc.

August 22, 2001

Southeastern New England Shipbuilding Corporation (SENESCO), North Kingstown, R.I., has penned a contract with Barges Unlimited of Fall River, Mass. to construct an 80,000-barrel, 320-ft. (97.5 m) double hull barge valued at more than $6.5 million.

Per the agreement, SENESCO will manufacture the largest double hull barge ever constructed in the Northeast. Work is expected to commence immediately and is expected to take up to one year for completion, at which time it will be utilized by Seaboats for transportation and delivery of light oil products.

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