SEPTEMBER 10, 2013 — Chris Ezuede, Chairman and CEO of Nigeria's Pheranzy Offshore reports that Chinese shipbuilder Hongda Marine Co. has laid the keel of the first of two FOCAL 522 Class 78 m DP2 platform supply vessels.

"We are very excited to have this opportunity to begin this partnership with Hongda Marine for the building of the first of two state of the art PSV's for our growing Nigerian fleet," said Mr. Ezuede at a keel laying ceremony at Hongda Marine's shipyard facility in Guangzhou,

Hull #1305 will be the first of two FOCAL522 Class 78 m vessels entering the Pheranzy Offshore fleet working in Nigeria.

Pheranzy Offshore is an indigenous Nigerian marine transportation company operating PSVs, tugs and tank barges servicing oil & gas research and development operations in Nigeria, and the West Africa region.

The FOCAL522 Class 78 m DP2 design features a 4,000 dwt, 800 sq.m deck cargo area, complement of 60 persons and carriage of multiple cargoes of fuel oil, base oil, fresh water, liquid mud, dry bulks and methanol. In addition to supply function, the design also includes oil recovery notation and FiFi 1 capacity for stand-by and emergency response, as well as capabilities to support ROV operations, subsea installation and offshore construction services.

Delivery for Hull #1305 is scheduled for fourth quarter 2014 and the second unit, Hull #1306, is scheduled to deliver first quarter 2014. Plans are already being discussed for additional vessels and Pheranzy Offshore is presently in talks with several major oil companies for long term contracts for its newbuild program.