Senesco Lands Another Barge Contract

Senesco Marine is ringing in the new year with the signing of a contract to build a 100,000-barrel double-hulled liquid fuel barge for Reinauer Transportation, a leading shipper of petroleum products with a fleet of more than 65 barges and tugboats. Work on the new barge is expected to begin in March.

Reinauer Transportation has operations based in Staten Island, New York and East Boston, Massachusetts. The company operates its vessels along the East Coast year round and employs over 500 people.

Over the past year, Senesco Marine has delivered two 80,000-barrel double-hulled barges and is currently working on two more for delivery this year. Both 80,000-barrel barges currently under construction are well ahead of schedule, something Senesco Marine CEO Gary Schuler attributes to the company's new on time design, build and delivery process. Schuler is predicting that the new 100,000-barrel barge will also be completed ahead of the scheduled January 2005 delivery date.

"We're very pleased to be working with Senesco Marine on the construction of our new barge," said Chris Reinauer, Manager of New Construction for Reinauer Transportation. "The company's on time delivery process was a major factor in our decision to go with Senesco Marine."

Just a few months ago, Senesco Marine announced a strategic partnership with Guarino & Cox, of New Orleans, one of the industry's most respected naval architecture firms to help maximize Senesco Marine's capacity to build ships faster.

The new barge set for construction will be 403 ft., 3 in. long, 74 ft. wide with side depths of 26 ft., 6 in. At 95% capacity, the barge will hold 100,000 barrels. The double-hulled barge will add to Reinauer's continuing double-hulled building program to comply with the Oil Pollution Act.

Barge Facts

The new 100,000-barrel, double-hulled barge will have the following principal characteristics and features:

® All welding in tanks and exterior will be double continuous.

® The barge notch will be fitted to accommodate the Intercon C-Series Coupler.

® The barge will have a ballast system provided for the purpose of ballasting/de- ballasting any of the ten double-hull ballast tanks.

® A complete cargo tank sump stripping system including a skid mounted, hydraulically driven vacuum pump and volume/residual cargo tank shall be installed.

® Two (2) heavy duty hydraulic mooring winches, two (2) cargo hose cranes, two (2) electric capstans and an anchor windless will be provided.

® Two (2) 5000 gpm 2 stage deep well cargo pumps driven by Detroit Diesel 60 series will be provided.