Halter Lays Keel For PCTC

October 27, 2000

Pasha Hawaii Transport Lines (PHTL), which is building a Jones Act Pure Car and Truck Carrier, at Halter Marine, reported that an important step in the creation of the ship - the keel laying - had taken place at Halter Marine. At a partners' meeting held October 25, PHTL announced that on September 21 Halter Marine, Inc., under international standards, completed fabrication of the required percentage of the total hull weight of PHTL's new-build vessel --enabling the official laying of the ship's keel. Vessel construction began in mid-June 2000. In early January, 2001, The Pasha Group-Van Ommeren Shipping Joint Venture will host a ceremonial celebration with Halter management and personnel to mark the setting of the first assembly on the shipway at Halter's yards in Pascagoula, Mississippi. PHTL also announced the important milestone of its September 20 closing of MarAd's (U.S. Maritime Administration) Title XI financing, with the sale of $71 million in the bond market at very favorable pricing. The 579-ft. U.S. Flag Jones Act pure car and truck carrier is on budget and ahead of schedule for launching its U.S. West Coast-Hawaii service in the spring of 2002. Based in Corte Madera, California, The Pasha Group is a transportation and logistics company with more than 50 years' experience in vehicular transportation.

Halter Lays Keel For PCTC

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