Marine Log

August 4, 2006

Todd Pacific to build excavator barge

Todd Shipyards Corporation (NYSE:TOD) says that its wholly owned subsidiary, Todd Pacific Shipyards Corporation ("Todd Pacific") was awarded a contract by Washington Group International/Alberici, a joint venture, under their contract with United States Army Corp of Engineers.

Under the contract Todd Pacific is to construct and deliver one custom built excavator barge to serve as a work platform for a deep digging excavator on the Ohio River.

The excavator barge will be used in the construction of the Olmsted Dam, near Olmsted, Illinois.

The barge will be 176 feet long with a maximum beam of 50 feet and will have a lightship weight of approximately 1087 long tons.

The firm fixed priced contract award is $10,555,998.

Work will be accomplished by the Todd Pacific workforce and selected subcontractors commencing in August 2006 with delivery at the Olmsted site scheduled for November 2007.