Cascade Signs Maintenance/Repair Agreement

January 5, 2000

Cascade General and Alaska Tanker Company (ATC) have signed an alliance agreement for the maintenance and repair of ATC's fleet of Alaska North Slope (ANS) tankers. The function of this alliance is "to achieve a process of continuous improvement in standards of safety, environmental protection and quality, which results in the reliable and cost effective performance of ATC vessels, while providing long-term benefits to both parties." The non-exclusive agreement commits ATC to sending a majority of its vessels to Cascade General's Portland Shipyard for drydocking over the next two years and also earmarks 50 percent of its voyage repairs to be performed by Cascade General outside of the shipyard at remote locations. Cascade has already performed several major overhauls for ATC in 1999, including biennial drydockings of the S/S Denali, Overseas Ohio and Overseas New York.

Cascade Signs Maintenance/Repair Agreement

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