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Marine Log

March 30, 2007

U.S. backer for Hartmann AHTS orders

A newly formed U.S. company, Suresh Maritime, is in a financing cooperation with Germany's Hartmann Logistik GmbH to add eight multipurpose AHTS's to the two already on order by Hartmann at Fincantieri.

A total of ten ships will now be built for delivery between end 2008 and the first half of 2010, with an option for another two vessels. As Fincantieri is already building two similar vessels for an Italian owner this means that 12 ships of this type have been ordered from Fincantieri within the past year.

Dr. Niels Hartmann, Managing Director of Hartmann Logistik, said: "We are pleased to continue working with Fincantieri with a view to building a fleet of cutting-edge ships. The vessels have been ordered by the Hartmann Group in a financing joint venture with Suresh Maritime. Suresh Maritime is a newly formed U.S. shipping and financing company, led by Siva Suresh, which is focusing on deploying U.S.-based capital in very select niche markets, such as the offshore sector"

Hartmann Logistik is confident that the vessels,will prove to be highly flexible in service.

They are of the "Moss 424" design developed by the Saipem Group company Moss Maritime, though Fincantieri says the basic Moss 424 design has been "considerably upgraded in various aspects."

The vessels will be 76.50 m long by 17.50 m wide with a draft of 6.85 m and a deadweight of over 3,000 tonnes.

Powered by four diesel engines developing 12,000 kW, the ships will be capable of reaching a maximum speed of 16.3 knots and will have a bollard pull of more than 190 tons.

The vessels will be able to work in any field of offshore operations and will carry out support activities for oil platforms, such as anchor handling and positioning, deep-sea towing, anti-pollution operations and fire-fighting (FiFi 2) class equipment), transport of dry-bulk and liquid cargo.

The ships will be equipped with a 450-ton pull winch system.

They will have a 600 sq.m dedicated area for cargo on deck and will be able to carry dry bulk and liquid cargo needed by offshore platforms during exploration and production activities.

Giuseppe Bono, Chief Executive Officer of Fincantieri commented: "In strengthening our relations with the Hartmann group we have decided to diversify our array of products and take up the opportunities offered in the highly dynamic offshore industry where, thanks to the wealth of experience the company has built up in a range of vessel types, we can provide multipurpose, highly specialized ships within a short time frame."

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