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News $8.5m in (he third quarter of 2004 from the sale. It also expects depreciation expense to fall by approximately $3.3m per quarter through 2005 and $2.5m per quarter thereafter. Peter C. Georgiopoulos, Chairman, CEO and President, said, "These sales are part of General Maritime's program to modern- ize its fleet. With the sale of these four vessels, we have increased the percent- age of double-hull or double-sided ves- sels in our fleet to 89% while improving the fleet's age profile from 10.3 years to 9.8 years as of July 1, 2004." Dredge Vssel Exception Interpreted The U.S. Court of Appeals for the Federal Circuit ruled that a U.S.-docu- mented non-hopper dredge vessel char- tered by a company in which Stuyvesant Dredging Company (SDC) has an inter- est may be used to perform work under a dredging contract with the U.S. Army Corps of Engineers. In the instant case, a rival dredge company filed a bid protest after the contract was awarded to a company in which SDC has an owner- ship interest. The protestor asserted that the SDC statutory exception only applied with regard to non-hopper dredges in existence on the date the statutory exception was enacted and may only be utilized in support of hop- per dredges. The court held that the applicable statutory exception contained only three restrictions, all of which were met in this case: (1) the non-hopper dredge must be documented as a vessel of the United States; (2) the non-hopper dredge must be chartered to SDC or to an entity in which it has an ownership interest; and (3) the non-hopper dredge must be chartered to fulfill dredging obligations under a specific contract. The appellate court remanded the case with instructions to enter summary judg- ment in favor of the SDC interests. Norfolk Dredging Co., Inc. v. United States, No. 04-5040 (Fed. Cir.) (HK Law) Rigdon Christens M/V Bourbon M/V Bourbon, the second in a series of 10 innovative Platform Supply Vessels (PSV) being build for Rigdon Marine by Bender Shipbuilding, was recently christened. The 210 x 54 x 19-ft. diesel-electric PSV imme- diately deployed to a major oil company for work in the Gulf of Mexico. Like its sister ves- sel M/V Orleans, Bourbon is outfitted with a dynamic positioning class 2 (DP-2) certifica- tion and a modern, streamlined hull designed for fuel efficiency with top speeds of 13 knots fully loaded and 15 knots in light con- ditions. The cargo capacity of these vessels has also been increased due to the space saving diesel electric engine room which hosts two l,825kw (2,500 hp) generators driven by Cummins QSK 60 engines and a third 910kw (1,200 hp) generator driven by a Cummins KTA 38 engine. Furthermore, the fuel burn of this system has been rated at 230 gallons-per-hour (gph) at 13 knots when fully loaded, and only 88 gph at 10 knots. The diesel electric system provides a signifi- cant fuel savings often exceeding 10 per- cent verses conventional direct-drive, diesel propelled vessels. Circle 26 on Reader Service Card Maritime Reporter & Engineering News Circle 249 on Reader Service Card Frtfin Sen S/ Midwest Sales Office Northeast Sales Office New York SeaArk Has You Covered. NO MATTER WHAT YOUR LOCATION, SEAARK HAS A SALES OFFICE NEAR YOU. SeaArk Marine manufactures alt-welded aluminum work and patrol boats from 17 to 85 feet in length. SeaArk's sales staff has a combined total of 163 years experience in the boat building industry. Our extended sales force has the expertise and commitment to customer satisfaction that keeps our customers coming back again and again. West Coast Sales Office California Southeast Sales Office North Carolina FSS Contractor fmmt 'hi ••> SEAARK MARINE The only thing stronger than our boats is the knowledge and dedication ol our people! Call us today to discuss your requirement. P.O. 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