Pacific-Gulf Marine To Operate Unique Vessel

January 9, 2002

Pacific-Gulf Marine has finalized an agreement with Patriot Shipping LLC to manage and operate the heavylift vessel, Industrial Challenger, under U.S. Flag. Built in 2000, the 8000 deadweight multi-purpose vessel has lifting capacity of 400 metric tons, a 16.5 knot service speed and is ideally suited for project & heavylift cargo. It is expected that the vessel will operate in the U.S. to South America trade while pursuing other opportunities to move both commercial and/or U.S. government cargoes from the U.S. to worldwide destinations. Licensed officers from the American Maritime Officers (AMO) and unlicensed personnel provided by the Seafarers International Union (SIU) will man the vessel. The vessel will be enrolled in the Voluntary Intermodal Sealift Agreement (VISA) program sponsored by the U.S. Maritime Administration & the Department of Defense’s Sealift program.

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