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Chouest liftboat

January 12, 2006

Bollinger to build liftboats for Chouest

Bollinger Shipyards, Inc. of Lockport, Louisiana and Edison Chouest Offshore, of Galliano, Louisiana, an industry leader in the offshore service vessel sector, entered into an agreement that will take Chouest into the growing liftboat market.

The two 245-ft class liftboats, Bollinger hull 515 and 516, are based on a Bollinger design that is American Bureau of Shipping, (ABS) classed and USCG certified subchapter L, meeting SOLAS/MARPOL requirements.

The vessels will be U.S. flagged US and will primarily operate in the Gulf of Mexico region.

Each vessel's three cranes will include a port bow mounted primary crane with a 110 foot lattice boom rated for 175 tons; a starboard bow telescoping auxiliary crane rated for 50 tons, and a box boom crane mounted on the starboard stern rated for 25 tons.

Equipped with 245-foot legs, the self-propelled floating platform will have the ability to work in water depths to 180 feet with a 15-foot air gap while lifting a total of 950 KIPS of variable load.

"We are excited to be builder for Chouest, our long time family friend and customer. Chouest's confidence in our design is a tremendous statement and tribute to our employee's dedication and pride for building the best vessels in the region," said Donald "Boysie" Bollinger, CEO and chairman of Bollinger Shipyards, Inc.

The vessels will be built at Bollinger's Lockport facility, with deliveries scheduled for first quarter of 2007 and second quarter 2007.

Terms and conditions of the contract were not disclosed.