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Intermarine Christens Two New Ships

December 6, 2006

New Orleans

The M/V Industrial Diamond and M/V Industrial Destiny were recently christened at the ENVC shipyard in Viana do Castelo, Portugal. Owned by the Juengerhans group of Germany, the vessels are the first two of six new vessels scheduled to join the Intermarine services fleet over the next 12 months.

The event was joined by Intermarine representatives, members of the Juengerhan family, Rehder & Arkon (Intermarine's Commercial Agent in Europe), and local dignitaries. At the request of the Juengerhans, Ms. Vivian Diedrich, wife of Mr. Thomas Cord of Rehder & Arkon, christened the Industrial Diamond; while Ms. Sheldon Schmidt, wife of Mr. Michael Schmidt of Intermarine, christened the Industrial Destiny. With the traditional proclamation "I name you wishing you, your owners and crew, safe successful voyages always afloat in friendly waters," Ms. Diedrich and Ms. Schmidt struck the bottles of champagne against the bow of the vessels.

Also in attendance were Mr. Andre Grikitis, Chief Operating Officer of Intermarine, and his wife Ellen, as well as Mr. Thomas Cord, Managing Director of Rehder & Arkon .

Designated by Intermarine as the D-Class vessels, each of the vessels is about 8,000 DWT, with a 16.5 knot service speed and two 250 metric ton electro-hydraulic cranes combinable for 500-ton lifts. The two vessels are presently operating in Intermarine's Americas trade lanes. The remaining four vessels will be delivering at 2-3 month intervals.