June 22, 2004

VT Halter gets contract for harbor tugs

VT Halter Marine, Inc. has signed a contract, valued at approximately $18 million, with Lockheed Martin to design and build two harbour tugs. Delivery is expected in fourth quarter 2005.  

The 30 m Voith Tractor Tugs will be built at VT Halter Marine's Jackson County, Miss, shipyards.

Voith Tractor Tugs have propulsion systems that combine propulsion and steering into a single unit, thus providing 360 degrees maneuverability.

The tugs will have all the necessary capabilities to manage and respond to maritime distress.

The tugs will be designed and constructed to comply with the rules and regulations of ABS as well as all applicable international regulations. VT halter Marine will modify existing designs and apply construction techniques used for similar tugs previously built at its shipyards.

"VT Halter Marine is well suited to execute this project because of our capability and extensive experience in the construction of tractor tugs," said Boyd E. King, CEO of VT Halter Marine. "Lockheed martin's selection of VT Halter marine is an indication of the recognition within the industry of our versatility and ability to buil vessels for a wide variety of uses and markets."
 In March 2002, before it was acquired by SingaporeTechnologies Engineering's Vision Technologies Systems, what was then the Halter Marine, Inc. unit of Friede Goldman Halter received a Letter of Intent from Lockheed Martin Overseas Corporation to design, and build two Voith Schneider Tractor Tugs in connection a contract that Lockheed Martin signed with the Egyptian Ministry of Transport.

Lockheed Martin's contract with Egypt is a package that includes supply of a Vessel Traffic Information Management System (VTIMS).

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