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MacGREGOR Signs Offshore Orders

Maritime Activity Reports, Inc.

January 7, 2008

During November MacGREGOR won offshore equipment orders with a total value of over $73.5 million (50 million euros); the equipment will be delivered during 2009-2010 Offshore equipment orders recently signed by MacGREGOR’s Offshore division include the single biggest order in the history of the newly acquired Norwegian company Hydramarine AS. This is for two Hydramarine active heave compensated (AHC) cranes for an offshore vessel being delivered in 2010 to a Norwegian shipowner. One of the cranes will have a lifting capacity of 400 tons and a 9842 ft. (3,000m) hook travel. The cranes will be manufactured at the Offshore division’s factory in Kristiansand, Norway. Other orders include four Hydramarine AHC cranes for four offshore vessels being delivered during 2009 and 2010 to shipowners from Germany and India. The cranes have lifting capacities of 100-150 ton and a 6561 ft.-9842 ft (2,000-3,000m) hook travel. The four cranes will be manufactured at the Offshore division’s factory in Singapore.

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