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M/V Antoine, Bulk Carrier Delivered

Maritime Activity Reports, Inc.

March 27, 2009

Mitsui Engineering & Shipbuilding Co., Ltd., (MES) completed and delivered a 56,000 dwt type bulk carrier M/V Antoine (MES Hull No. 1735) at its Chiba Works to the owner Palma Trading Corporation, Liberia on 26th March, 2009.

This vessel is a handy-max type bulk carrier of 56,000 dwt with a huge cargo hold capacity over 70,000 m3 and marks the 82nd ship of its series.

This 56,000 dwt type bulk carrier series of MES is widely called Mitsui’s 56. More than 150 units of this series have been ordered to MES.

6. Saipem, $400m Offshore Contract
Saipem has been awarded a new contract worth approximately $400m for the charter of offshore drilling rig Scarabeo 6.

The contract has been assigned to Saipem by Burullus Gas Company extending their charter of Scarabeo 6 to the fourth quarter of 2014. The rig will continue to operate in Egyptian waters where she is presently working for the same client.

Scarabeo 6 is a third-generation semi-submersible rig capable, at present, of drilling to depths of up to 7,500 metres, operating in water depths of up to 780 metres. The operating capacity will be raised to 1,100 metres of water depth, following the rig upgrading works, which will be executed in a six-month period between the second quarter of 2011 and the second quarter of 2012.

Saipem, 43% owned by Eni, is organised in three Business Units: Offshore, Onshore and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater.

(www.saipem.eni.it)

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