Adriatic Marine Orders Six Offshore Supply Vessels

Adriatic Marine LLC has entered into a contract with Master Boat Builders, Inc., of Mobile, Alabama, for the construction of six 220’-class DP-2 Offshore Supply Vessels (OSVs).

Construction is scheduled to begin in January 2014. Delivery of the first vessel is scheduled for the first quarter of 2015, with deliveries of the five subsequent vessels following every four months thereafter.

Adriatic Marine also currently has five 200’ and two 260’ DP-2 OSVs under construction at C&C Marine and Repair, LLC, of Belle Chasse, Louisiana. Adriatic Marine accepted delivery of the first 200’ DP-2 vessel, the M/V Celtic, in October 2013. Deliveries of the additional seven vessels from C&C Marine are slated to continue every three months through the first quarter of 2016.

With the construction of the six 220’-class OSVs from Master Boat Builders and the seven remaining 200’ to 260’ OSVs from C&C Marine, Adriatic Marine will have a fleet of thirty (30) DP-1/DP-2 OSVs by first quarter of 2016. Adriatic Marine’s current fleet has an average age of four years, making the fleet one of the newest and most sophisticated in the Gulf of Mexico.

Adriatic Marine, December 11, 2013

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