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Abeking & Rasmussen Wins Pilot Tender Order

Maritime Activity Reports, Inc.

February 12, 2003

The Federal Ministry of Transport has decided to order a fourth SWATH Pilot Vessel from Abeking & Rasmussen following successful operation of the first three SWATH@A&R vessels for pilot service in the German Bight and the Elbe Approach. Since commissioning of the Elbe Range Pilot System in 1999/2000, shipborne pilot transfer increased significantly. The efficiency of the "Elbe Range" system resulted in cost savings of several million dollars each year, making the decision much easier for the new 82-ft. (25-m) SWATH@A&R Pilot Tender which will be delivered in Autumn 2004 and will extend the Elbe Range System up to the outer Weser Approach.

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