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Derecktor Shipyards Chosen By SENESCO For Subcontract

Maritime Activity Reports, Inc.

November 28, 2005

Derecktor Shipyards has been selected by Southeastern New England Shipbuilding Company (SENESCO) to provide construction support on a 140,000 barrel fuel barge project. Derecktor garnered the job as a result of their unique ability to bend one inch thick steel in the compound curves required on the project. Derecktor will build the bow section as well as roll the plate for both the stern and the section just aft of the bow. "Being chosen for the job by SENESCO, a leader in double-hulled barge construction and itself a specialist in steel fabrication, is a gratifying endorsement of our abilities and our record of delivering for the customer" commented Derecktor General Manager Gavin Higgins. The work will be done at Derecktor's 23-acre Bridgeport CT facility and is expected to be completed in March 2006.

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