Bollinger Contracted to Build Two for Bouchard

Thursday, February 17, 2005

Bouchard’s B.No. 225, sister hull to the announced newbuilds, B. No. 280 and B.No. 205, travels down the Mississippi River on her maiden voyage following delivery from Bollinger.

Bollinger Shipyards, Inc. of Lockport, Louisiana and Bouchard Coastwise Management, Corp., Hicksville, N.Y., one of the largest operators of double hull articulated tug/barge (ATB) units in the United States, signed a contract for Bollinger to build two double-hull, ocean-going barges that meet the requirements of the Oil Pollution Act of 1990 (OPA’90). These two additions will give Bouchard fourteen OPA’90 barges in their fleet. This addition to the Bollinger yards portfolio, will bring the delivered OPA’90 barge count to thirty-three when both units are delivered.

Following on the success of the recent Bollinger delivered ATB’s, 110,000 barrel B. No.225 with tug JANE A. BOUCHARD and delivery of the 145,000 barrel B. No.242 with the tug MORTON S. BOUCHARD IV, Bouchard has again teamed with Bollinger for their fleet expansion. B. No.280 will have a 80,000-barrel capacity and the B. No.205 will be able to carry 110,000 barrels. Delivery of the first barge is scheduled for November, 2005 and delivery of the second barge is planned for October, 2006. Terms of the contract were not disclosed.

Morton S. Bouchard III, president and chief executive officer of Bouchard Affiliates, said “We are pleased that Bouchard and Bollinger have come to an agreement to construct the first two vessels of Bouchard’s second phase construction program.”

The first new Bouchard barge, B. No.280 will be a clean oil barge measuring 399-feet long, with a 74-foot beam and a depth of 28-feet. The second barge, B. No.205 will be a black oil barge measuring 430-feet long, with a 79-foot beam and a depth of 34-feet. Their sterns will be built with a notch and vertical ladder structure as part of its Intercon coupler system.

“The Bollinger organization is pleased to be a part of Bouchard’s future plans.” said Donald “Boysie” Bollinger, chairman and chief executive officer of Bollinger Shipyards, Inc., “Our employees are dedicated to making the Bollinger built units the best in the industry.”

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