TAX CONFERENCE

The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping.

MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004

Make sure you know how the new tax rules work!

February 16, 2005

Bouchard orders two more OPA 90 barges from Bollinger

Bollinger Shipyards, Inc. of Lockport, LouisianaBouchards B. No. 225 and Bouchard Coastwise Management, Corp., Hicksville, N.Y., one of the largest operators of double hull articulated tug/barge (ATB) units in the U.S., have signed a contract for Bollinger to build two double-hull, ocean-going barges that meet OPA 90 requirements.

When completed, these two additions will give Bouchard 14 OPA'90 barges in its fleet and bring the Bollinger yards tally of delivered OPA 90 barges to thirty-three.

The order follows the successful deliveries to Bouchard by Bollinger of the 110,000 barrel B. No.225 with tug Jane A. Bouchard and the 145,000 barrel B. No.242 with the tug Morton S. Bouchard IV.

Delivery of the first barge is scheduled for November, 2005 and delivery of the second barge is planned for October, 2006.

Terms of the contract were not disclosed.

Morton S. Bouchard III, president and chief executive officer of Bouchard Affiliates, said "We are pleased that Bouchard and Bollinger have come to an agreement to construct the first two vessels of Bouchard's second phase construction program."

The first new Bouchard barge, the 80,000 barrel B. No.280, will bea clean oil barge measuring 399-feet long, with a74-foot beam and a depth of 28-feet.

The second barge, the 110,000 barrel B. No.205, will be a black oil barge measuring 430-feet long, with a 79-foot beam and a depth of 34-feet.

The stern of each barge will be built with a notch and vertical ladder structure as part of its Intercon coupler system.

"The Bollinger organization is pleased to be a part of Bouchard's future plans." said Donald "Boysie" Bollinger, chairman and chief executive officer of Bollinger Shipyards, Inc., "Our employees are dedicated to making the Bollinger built units the best in the industry.

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