Rotterdam, 31 March 2006

SMIT takes another step in the renewal and expansion of its fleet with 18 newly built vessels

Division Harbour Towage and Terminals

SMIT has reached an agreement with Damen Shipyards from the Netherlands for constructing 11 newly built vessels.

Two of these vessels (type ASD 3211, 65 tons bp) have been awarded with a long-term contract for the Terminals Division in Equatorial Guinea and will be delivered in respectively September and December 2007.

Four vessels (type ASD 2810) are replacements for the Harbour Towage fleet in Rotterdam. These vessels will be equipped with a substantially higher bollard pull (60 tons bp). Two of these vessels will be delivered in respectively 2007 and 2008.

An additional five vessels of the ASD 2810 type (60 tons bp) will be deployed as replacement for and expansion of the divisions’ worldwide fleet. Two vessels will be delivered in 2007 and three in 2008.

Division Transport & Heavy Lift

Also SMIT has reached an agreement for the purchase of 7 newly built workvessels from Hadi H. Al-Hammam Est. of Saudi Arabia. These vessels of approximately 75 tons bp are a modified version of the ‘Smit Kamara’ and ‘Smit Komodo’. The first two vessels of this new series will be delivered during this year and the last one is expected to be delivered in 2008. They will be managed by the SMIT Singapore organisation.

This investment comprises both replacement as well as expansion. Three of these vessels have already been awarded with long-term contracts for the oil & gassector to work for Saudi Aramco in Saudi waters through Hadi H. Al-Hammam Est. Both Hadi H.Al-Hammam Est. and SMIT have declared their intent to jointly pursue additional opportunities in Saudi Arabia.

All fleet renewals and expansions fit into SMIT’s strategy of moving to the top-segment of the market with long-term contracts, autonomous growth, fleet renewal and optimalisation.

Company profile

SMIT has a proud tradition of nearly 165 years of service in the maritime sector. The company has earned an excellent reputation by combining expertise and experience with high-quality materials and equipment. SMIT aims to provide its services in the main to shipping companies, producers in the oil and LNG industries, insurers and governments. SMIT maintains the highest standards in respect of Safety, Health, the protection of the Environment and Quality.

SMIT’s services are organised into four Divisions:

•         Harbour Towage: harbour towage services and related maritime services.

•         Terminals: towage services and related maritime and management services to offshore and onshore terminals.

•         Salvage: salvage, wreck removal, environmental protection and consultancy.

•         Transport & Heavy Lift: chartering, barge rental & transport, ocean, coastal and river towage, heavy lifting and marine support to a variety of civil and offshore projects.