VT Halter Wins PSV Contracts

VT Halter Marine won a contract for the design and construction of two Platform Supply Vessels (PSV) for L&M Botruc Rental Inc. The contract is valued at between $45-$55m. Physical construction is scheduled to begin in the second quarter of 2008 with deliveries of the two vessels scheduled in 2010. Measuring 230 x 56 x 18-ft., the completed PSVs will be used to carry supplies, deck cargo, and drilling fluids used in the support of exploration and offshore production of energy sources. PSVs are highly automated and designed with sophisticated control and monitoring systems. Each vessel will be equipped with a DP-2 (Dynamic Position with redundancy) that will provide precise maneuvering capability through the use of a special combination of thrusters that are equipped with controllable pitch propellers. L&M Botruc Rental Inc operates one of the largest fleets of offshore maritime transportation vessels in the Gulf. It is one of the largest privately held supply boat companies and the sixth larges boat company on the Gulf Coast.