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Cargo Ship Hull For Rensen To Be Built

Maritime Activity Reports, Inc.

June 16, 2006

Nizhegorodsky Teplokhod Shipyard incorporated into the Sea and Gas projects signed a contract with the Rensen Shipbuilding B.V. for the construction of the fourth dry cargo ship hull of 164-ÐÒ project. The contract for the construction of the 3 hulls was signed in July 2005. The hulls are to be delivered until late 2006 for the further outfitting to Rotterdam. The fourth hull will be delivered in May 2007. Source: SeaNews