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Marine Log

FJORD WITH ICE MAIDEN LOADED ON

May 6, 2008

Fairstar Fjord loads Ice Maiden

Rotterdam-headquarterd Fairstar Heavy Transport NV (OSL:FAIR) today announced that the former icebreaker Ice Maiden was successfully loaded onto the heavy transport vessel Fjord last week in Pascagoula, Mississippi.

The Fjord is the first of two semi-submersible barges to be converted into modern self-propelled heavy transport vessels by Fairstar. The sister vessel, Fjell, is currently completing conversion in Malta.

Ice Maiden is Fjord's first cargo.

The ship was floated on to the Fjord in a carefully managed operation supervised by Fairstar's Operations Manager Dave Hangoor, who reported "We are delighted with the handling of the Fjord throughout the loading operation and the de ballasting and re ballasting were exceptionally smooth and stable. Arriving in U.S. waters for our maiden voyage and presenting the ship and crew for inspection to the United States Coast Guard was a bit nerve wracking, but we passed the test and have certainly learned a lot about the ship and its characteristics."

After picking up a number of steel accommodation blocks for the Ice Maiden in Mobile, Alabama, the Fjord departed Sunday evening for its next destination, Newcastle, U.K. The Fjord is expected to arrive in the UK at the end of May.

As reported earlier, U.K.-based A&P Tyne has won a contract from C&M Group to convert Ice Maiden into a DP3 flotel unit.

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