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Coast Guard Awards Salvage Contract to Titan

Maritime Activity Reports, Inc.

May 7, 2002

The U.S. Coast Guard has awarded a $3.5 million contract to Titan Maritime, LLC, of Dania, Florida to conduct an underwater assessment of the sunken shipwreck S.S. Jacob Luckenbach, and remove any recoverable oil discovered within the fuel tanks of the vessel. The shipwreck was identified in February as the ongoing source of pollution that has periodically oiled thousands of sea birds off the California Coast. The contract award is the culmination of an intensive evaluation and selection process that reviewed proposals from many world-class salvage organizations. Work is expected to begin later this month.

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