Ron Mcalear News

Matson Navigation Company, Inc.'s (Matson)today signed a contract with Kvaerner Philadelphia Shipyard Inc. the purchase of two new containerships. late 2003 and in 2004, respectively. quality and value," said C. executive officer. carrier. R. J. the U.S. domestic offshore trades. dry containers. Jones Act vessels at a relatively low cost. as a world class commercial shipyard. Kvaerner Philadelphia Shipyard. in Kvaerner's ability to build high quality ships. Philadelphia Shipyard was built to provide U.S. ships at realistic prices for the dedicated trades of the U.S. Act. customers," Mulholland added. enhanced its fleet to meet the changing needs of our customers. open-top vessels.

In another significant executive move at its Philadelphia shipyard, Kvaerner announced the appointment of Brian M Smith, as Vice President, Business Development. Until recently, British born Brian Smith held a similar position with Litton Ship Systems, in New Orleans, where he since 1996 has been employed as Director - Business Development/ Strategic Planning. He will take up his position with Kvaerner in Philadelphia during mid November. Smith is a well-established figure within the American commercial shipbuilding market. Prior to his joining Avondale in 1996, Mr. Smith worked extensively in the marketing, strategic planning and business development area, much of it within the maritime industry.

A new development within the realm of U.S. Shipbuilding — the new Kvaerner Philadelphia Shipyard (KPSI) is poised to be one of the most efficiently outfitted commercial shipyards in the world. The shipbuilding company, which occupies approximately 114 acres on what used to be the Philadelphia Naval Shipyard, utilizes a section of the former Naval yard, which was closed down in 1996 by the U.S. Government due to lack of funds. Further revitalizing this historical landmark, was KPSI's decision to utilize the yard's original drydocks that date back to WWII. But the facility is hardly stuck in the 1940s as it boasts a full array of modern shipbuilding technology and systems. Recently, Ron McAlear, hailing from Litton Avondale and a U.S.

Kvaerner Philadelphia Shipyard, part of the Anglo-Norwegian engineering and construction group, to date, has placed supply orders for nearly $60 million with local and regional businesses in and around Philadelphia for ship construction materials and services. Additional amounts are spent regularly with local suppliers to support the shipyard's daily operations. "This is evidence that the promises made to tax-payers in 1998 are now starting to have a real impact in the community," said Ron McAlear, newly appointed President & CEO of the Kvaerner Philadelphia Shipyard. "We're in the process of establishing a strong supplier network that can service the yard in the years to come. Work on the construction of the yards' first ship - a container vessel - started at the end of March this year.

J.F. Lehman & Company, a New York-based private equity investor, completed a control investment in Atlantic Marine Holding Company, a provider of repair, overhaul and maintenance services for commercial seagoing vessels and U.S. Navy ships. Atlantic Marine owns and operates two stra¬tegically located shipyards in Jacksonville, Fla. and Mobile, Ala., and leases a third facil¬ity located at the Naval Station Mayport in Jacksonville. Atlantic Marine’s Jacksonville facilities focus on the commercial and U.S. Navy repair market and in recent years has expanded its service offering to the repair and conversion of mega-yachts. The company’s Mobile operation focuses on the bluewater commercial ship re¬pair sector, including vessels that serve the U.S. Defense cargo market.

Kvaerner, the Anglo-Norwegian engineering and construction Group, today announced that it has received a Letter of Intent from Keystone Shipping Company of Pennsylvania, for the construction of four handy- sized (40,000 dwt) clean product carrier vessels. The total value of the award amounts to approximately $240 million. Philadelphia. Speaking at the inauguration of the new yard today in Philadelphia, which was coupled with the keel laying of the first ship that has been under construction at the yard since March 2000, Tom Ridge said: "Think about it. Just two years ago, commercial shipbuilding no longer existed in Philadelphia. "In more ways than one, we're building for the future." said Ron McAlear, President of Kvaerner Philadelphia Shipyard.