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Fincantieri Receives AHTS Order

Maritime Activity Reports, Inc.

October 20, 2006

Fincantieri has gained an order from Hartmann Logistik GmbH to build two multipurpose Anchor Handling, Tug & Supply Vessels (AHTS) with delivery scheduled for December 2008 and February 2009, respectively, plus an option for further two. Hartmann Logistik GmbH is the Hartmann Group company active in the Offshore Industry, which is headed by Dr. Niels Hartmann, son of the founder of the Group. Founded in 1981, Hartmann Reederei is a leading global player, a first class shipping and logistic company with a fleet of over 100 vessels including container ships, gas tankers and product tankers as well as bulk carriers, multipurpose vessels and special carriers and has a substantial newbuilding program currently going on with yards in Europe and the Far East. Operation of offshore oilrigs-support vessels is a relatively new, developing business for the Hartmann Group, although the company is involved in the tug and barge business since 1984. The vessels, designed to the top class awarded by ABS, will be 76.50 m long, 17.50 m wide with a draft of 6.8 m and a deadweight of over 3,000 toes. Equipped with four diesel engines capable of generating 16,000 hp, the ships will be capable of reaching a maximum speed of 16.3 knots and will have a Bollard Pull of at least 180 tonnes. The vessels will be able to work in any field of offshore operations and will carry out support activities for oil platforms, such as anchor handling and positioning, deep-sea towing, anti-pollution operations and fire-fighting (Fire Fighting 2 class equipment), transport of dry-bulk and liquid cargo. The ships will be equipped with a specific plant, as the “DP 1” system of dynamic positioning, which makes it possible to act simultaneously on the two adjustable pitch aft propellers, on the bow and stern thrusters and on the fore azimuth thruster, as well as a system of large winches (450 tons of pull) which guarantee safe towing and deep-water anchor handling operations. Moreover, the ship will have a 600 sq.m dedicated area for cargo on deck, accommodations for 29 persons and will be able to carry dry bulk and liquid cargo needed by offshore platforms during their exploration and production activities.

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