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November 23, 2005

Manitowoc Marine to build hot oil barge

The Manitowoc Company, Inc. (NYSE: MTW) says that its Bay Shipbuilding subsidiary has been awarded a new construction contract from Harley Marine Services, Inc. to build an ocean-class, double-hull, hot oil tank barge.

The 80,000-barrel capacity barge, which is scheduled for delivery in the fourth quarter of 2006, will measure 369 feet in length, 78 feet in width, and 33 feet in molded depth.

The Harley contract also includes an option for a second identical vessel. Other contract terms were not disclosed.

The Harley barge is the tenth double-hull tank barge to be built by the Manitowoc Marine Group.

The vessel features a flush deck design and is equipped with an onboard heating system to maintain consistent cargo temperatures of 160 degrees F.

It will be ABS, U.S. Coast Guard, and OPA- 90 compliant.

Based in Seattle, Harley Marine Services is one of the largest petroleum transporters serving the West Coast.

On delivery, Harley's new barge will join a fleet of vessels to haul a variety of petroleum products, including No. 6 grade fuel oil, between Alaskan, Northwest, and West coast markets.

"This project is a perfect fit for Bay Shipbuilding," said Bob Herre, president of Manitowoc Marine Group. "The size and features of the Harley barge will complement Bay's infrastructure and the experience of its workforce. Erection of the hull and tank modules will begin shortly after the Great Lakes winter fleet sails from our Sturgeon Bay facility in the spring. Upon completion, this hot oil barge will become one of the most sophisticated petroleum carriers in Harley's rapidly growing fleet of ocean-class vessels."