Acomarin and Hermasa Enter Agreement

ACOMARIN Engineering, Ltd. has entered into an agreement with HERMASA Navegacao da Amazonia S.A. of Brazil to supply them with three new Articulated Tug and Barge (ATB) Coupling Systems plus two additional socket plates for barges only. One set of the ATB Coupling System will be for retrofitting the tug “Aquarius” and the barge “Mir” designed after S.S.P.A. towing tank test. The other two sets plus the barge socket plates are for new construction. Tug Hull No. 1613 and 1614 and Barge Hull No. 1610, 1611, 1612, and 1615 will be built by ERIN Shipyards (ERIN- Estaleiros Rio Negro, Ltda.) in Manaus, Brazil. INTEROCEAN Engineering and Ship Management Ltda. of Rio de Janeiro, Brazil designed these new tugs and barges with ABS class certification. ERIN Shipyard will also do the installation of the ATB Coupling System. ERIN Shipyard has agreed to sign a letter of Intent (LOI) for two more complete ATB Coupling Systems for another client in Brazil.