Louis Dreyfus Armateurs Buys Fairmount

Maritime Activity Reports, Inc.

May 31, 2007

After two years of collaboration with Fairmount Marine BV, Louis Dreyfus Armateurs has strengthened its services to the offshore industry through the acquisition of Fairmount, a Dutch company. the acquisition of Fairmount Marine. For two years, since the common operation of the Gavea Lifter semi-submersible heavy transportation barge, the two companies have learned to work together.

Louis Dreyfus Armateurs decided to acquire Fairmount to develop the company in the longer term. Ocean towage is a promising market and LDA excels in developing niche sectors and added value.

A global ocean towage specialist, Fairmount was established 30 years ago by Mr Henk J. van den Berg. Fairmount delivers know-how and expertise in ocean towage to operators of drilling platforms, barges and FPSOs (Floating Production Storage and Offloading). Platforms, drillships and other large units can be docked on its semi-submersible barges.

Fairmount operates five modern and powerful (200 tonnes bollard pull) tugs, all delivered since 2005, as well as two semi-submersible barges capable of lifting 50,000 tonnes.

Negotiations with shipyards for two new semi-submersible barges and several tugs (in the 280 tonnes bollard pull class) are already in progress.

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