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December 2, 2005

Manitowoc Marine bags ATB order

Vane Line Bunkering, Inc., a subsidiary of The Vane Brothers Company, Baltimore, MD, has awarded Manitowoc Marine Group (MMG) a contract for the construction of a 480-foot, 145,000-barrel, double-hulled hot oil tank barge and an accompanying 6,000-horsepower tug.

The ocean-going articulated tug and barge (AT/B) unit is slated for delivery in fourth quarter of 2006. This contract also provides Vane Brothers with an option for an identical AT/B unit to be delivered in the third quarter of 2007. Other contract terms were not disclosed.

The Vane contract represents the eleventh double-hulled barge and fourth ocean-going tug to be built by Manitowoc Marine Group.

Both tug and barge, which will serve the mid-Atlantic petroleum markets, will be classified in compliance with ABS, Coast Guard, and OPA-90 standards.

"Manitowoc is proud to be selected by Vane Brothers for their latest shipbuilding project," said Bob Herre, president and general manager of Manitowoc Marine Group. "By building the barge at our Bay Shipbuilding facility and the tug at Marinette Marine, we will incorporate our multiple shipyard strategy, which allows us to focus our best expertise on a multi- phase shipbuilding project and complements our ability to deliver the tug and barge units simultaneously."

"After much study, we decided that Manitowoc Marine Group was the best partner for this project," stated Duff Hughes, president of Vane Brothers. "This barge is nearly three times the size of any vessel in our fleet, and Manitowoc is one of the few shipbuilders in the United States that has successfully built both ocean-going barges and high-horsepower tugs. That experience gives us a high degree of confidence."