General Dynamics NASSCO to Construct Two Product Tankers for Seabulk Tankers, Inc.

FORT LAUDERDALE, Fla. and SAN DIEGO, Sept. 11, 2013

These new 610-foot-long tankers are a continuation of the ECO tanker design, which offers improved fuel efficiency and incorporates the latest environmental protection features, including a Ballast Water Treatment System. With this order from Seabulk, NASSCO is now under contract for the design and construction of six ECO MR tankers. In May, NASSCO was contracted by another customer to build four vessels of the same design.

The ships will be designed by DSEC, a subsidiary of Daewoo Shipbuilding & Marine Engineering (DSME) of Busan, South Korea. DSEC's ECO design achieves improved fuel efficiency through several features, including a G-series MAN ME slow-speed main engine and an optimized hull form. The tankers will have conversion capable dual-fuel-capable auxiliary engines and the ability to accommodate the future installation of an LNG fuel-gas system and Type C LNG tanks. These additional tankers represent the continuation of NASSCO's successful partnership with DSEC. This contract will be the fourth commercial collaboration between NASSCO and DSEC.

Fred Harris, president of General Dynamics NASSCO, said, "This contract is an indication that NASSCO remains fully committed to continuing to bring the most economical and environmentally sound technology to Jones Act owners and operators. We are very pleased to begin a new partnership with SEACOR and look forward to delivering two high-quality vessels that will serve SEACOR in the Jones Act tanker market for decades."

The construction and operation of the new vessels meet Jones Act requirements that ships carrying cargo between U.S. ports be built in U.S. shipyards.

Charles Fabrikant, executive chairman of SEACOR Holdings, said, "Our decision to build these two new tankers is a clear demonstration of our continued commitment to the Jones Act. We are very excited that we will be able to offer this new ECO friendly design to charterers."

For more information about General Dynamics NASSCO, please visit www.nassco.com.  More information about General Dynamics is available online at www.generaldynamics.com.