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August 7, 2002

Halter launches barge

Halter Marine has launched the Capella,an 80,000-barrel tank barge for J&L, Inc. The barge, the first project Halter has undertaken for J&L, was built at Halter's Gulfport (Ms.) yard. Delivery is planned for August 30.

The new barge is 332 feet long, with a beam of 74 feet and a depth of 25 feet. It is built to U.S. Coast Guard standards under Sub-chapter D, as a tank barge certified to carry Grade A or lower bulk petroleum products. The barge also qualifies to be certified by the American Bureau of Shipping (ABS) under the +A1 Oil Tank Barge designation.

The facility, technical, managerial and manpower assets of Halter Marine are in the process of being transferred to VT Kinetics, a subsidiary of Singapore Technologies Engineering. After the closing, which is expected to take place no later than the end of August 2002, the company will become VT Halter Marine, Inc.

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