Aries Marine Announces New Build Program

December 4, 2007

Court Ramsay, President and CEO of Lafayette, La. based Aries Marine Corporation, announced in a joint statement with Eastern Shipbuilding Group that a Letter of Intent has been signed to begin construction of two Tiger shark class PSVs. The first vessel will be named the M/V Dwight S. Ramsay after CFO/owner and founder of Aries Marine. The M/V Dwight S. Ramsay will be Eastern Shipbuilding and Aker Yards latest innovation in a high capacity, fuel efficient, environmentally friendly PSV design. The Aker PSV 23 DE design is an AC diesel electric, twin Z-drive, ABS, A 1 AMS, DP-2, Solas, offshore service vessel. At 284 ft. X 62 ft. X 22 ft. the M/V Dwight S. Ramsayâ€™s double hull will exceed the new IMO regulations concerning vessels transporting fuel, drilling fluids or other pollutants and provide massive below deck capacities. The â€œTigerâ€ shark diesel electric design will provide Aries Marineâ€™s customers with more than Fifteen Thousand (15,000) barrels of liquid mud capacity along with methanol and voluminous dry bulk. With an engine room placed forward and on the main deck level, the vesselâ€™s below deck space is opened up to accommodate a new, larger and environmentally sensitive tank arrangement â€“ a design that conforms to the new laws in letter and in spirit. No fuel, mud or other pollutants, in any amount, will touch the outer skin in this boat. In addition, the environmentally friendly vessel with its large generator package offers the customer spare power to run many different operations. These options include ROV units, accommodation modules and pipeline treatment systems. Although Aries Marineâ€™s new builds will be capable and classed for International Operations, the vessels are expected to join the existing fleet of 28 vessels in the Gulf of Mexico.

Aries Marine Announces New Build Program

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