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Stategic Marine Awarded Contracts

Maritime Activity Reports, Inc.

February 27, 2008

Strategic Marine recently won contracts for three aluminum hulled boats from an Indonesian company. Strategic Marine chairman Mark Newbold said he was delighted with the latest signings which will see the company build three additional 31m offshore utility boats for PT Baruna Raya Logistics. Newbold said that Baruna Raya’s craft would be built at the company’s Ba-Ria Vung Tao yard in south Vietnam, with hull deliveries scheduled for October and December 2008 and February 2009. Baruna Raya’s craft will accommodate up to 60 passengers and a crew of eight and feature 67sqm of deck space. The two boats will be powered by three Cummins KTA38 engines generating a combined 3600bhp and capable of reaching a maximum speed of 24kts.

The latest signings follow the company’s recent $13.34m joint-venture contract for the construction of two 52m crew boats for Mexican-based Bluewater Marine, along with an order for 143m steel hulled dive support vessel for Singapore company, Marfield Ltd Inc. Strategic Marine’s order book now stands at more than 125 ships worth more than $210m.

Since it was established in 1984, the company has built more than 320 vessels for domestic and export markets.

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