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February 7, 2006

Moran orders D/H barges at Manitowoc

The Manitowoc Company, Inc. (NYSE: MTW) says that Moran Towing Corporation has awarded Manitowoc Marine Group a follow-on contract for construction of two ocean- class, double-hull, hot oil tank barges. The vessels, which will be built by Manitowoc's Bay Shipbuilding Co. (BSC) subsidiary, are identical to a pair of tank barges that BSC constructed and delivered to Moran in 2004 and 2005.

Measuring 425 feet in length by 78 feet in width, the barges will have ten cargo compartments that provide a 100% cubic capacity of 118,836 barrels of petroleum products. An onboard heating system will maintain consistent cargo temperatures of 135 degrees F.

A stern notch and Intercon coupling system will link each barge to a customer-supplied tug.

Vessel deliveries are expected in the second quarter of 2007 and the second quarter of 2008.