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Marineco are pleased to announce that we have entered in to an agreement with Masco in Russia to purchase their vessel Kilp. The Kilp is a Damen 2608 Stantug built in 2005, she has a bollard pull of 51 tonnes and after a re-fit in Europe she will become Marineco Ashanti and available for charter.

I would like to personally wish all our friends and customers a very Happy and Prosperous 2008.

2007 was our busiest year on record. The Marineco Toomai finally joined the fleet and is now on charter in Dubai whilst the Marineco India was shipped mid year to Kakinada, India where she will be joined in mid Feb. 2008 by the Marineco Rakshaa.

Our latest "new build" the Marineco Hathi is due to be launched mid March and upon completion of sea trials will commence her first charter in Liverpool, UK. We have also added the Marineco Oanawee, an 11mtr 40 knot rigid inflatable fast rescue/passenger carrying vessel to our fleet.

Our latest multicat type purchase, the Marineco Sheer Khan is currently in Grimsby being lengthened where upon completion she will become an 18x6 multicat type and the Marineco Rakshaa has also just undergone a main engine overhaul and installation of new generators.

2007 saw us dispose of number of vessels to make way for new ones. Amongst these were the the Marineco Baloo which was sold to S A T O S in Spain whilst the Marineco Tabriki was sold to a customer in Africa, We also sold our crane barge Steifbeen to a UK construction company and so would like to take this opportunity to wish all of the new owners good luck wth their new vessels.

2007 also saw a number of our staff pass their Masters tickets and we aim to continue with with our aggressive training plan throughout 2008 when we hope to announce more new Captains throughout the year.

November 2007

Congratulations to Neil Matheson and and D J Morrison on being the latest Marineco employees to pass their Masters STCW 200 CT Gross Tonnes (500 GTOOW). Well done guys!

Yet another of our employees has passed their masters ticket and so please join us in congratulating Ricardo Pacitti for passing his Masters STCW 200 CT Gross Tonnes (500 GTOOW). Well done Ricardo!

Following the success of the latest addition to the Marineco fleet, the Marineco Toomai, we're delighted today to announce a further agreement with Damen shipyards for the delivery of a new Multicat, the Marineco Hathi.

The vessel is a Damen multicat type 2409 with the following dimensions: Length 24.00 beam 9.00 draft of 2.4 mtrs aft. The vessel will have accommodation for a total of 6 crew, a projected bollard pull of 24 tonnes and is due for delivery in February 2008. More details will follow shortly…

June 2007

The majority of our vessels are now working throughout the world and so Marineco is now truly a global player! The Marineco Toomai is en route to Dubai whilst the Marineco India is en route to India. The Marineco Baloo is currently working in Spain and the Marineco Tabriki is in Tunisia. Even the Marineco Rakshaa is on charter in Holland. When we started the business only 11 years ago we could never have envisaged our vessels would be scattered so far across the world in such a short time. Whilst we may have strayed from our roots we recognise that our success is very much the result of support from our loyal customers in the UK and Europe and so we would like to take this opportunity to thank everyone for your continued support and business.

Please join us in congratulating Mick Thorpe who has recently passed his Masters STCW 200 CT Gross Tonnes (500 GTOOW).

We're delighted to report that Damen continue to make excellent progress on The Toomai and delivery remains scheduled for 31st May. As a result Damen are currently in the process of incorporating a number of custom changes we requested to the standard vessel specification. These are extensive and incorporate feedback from both ourselves and our clients. Below are just some of the modifications that are taking place as part of the custom fit.

Accommodation is provided for 8 persons in five cabins with the Captain and Chief Engineer both having single cabins whilst all of the accommodation will have natural light throughout. The bridge will have a "Captain remote control system" to enable the Captain to pilot the vessel from any part of the bridge. In addition we have also
incorporated a fly bridge to the vessel which offers the Captain far greater visibility and enhanced handling of the vessel. The vessel will be fitted with a larger hydraulic system than previous models which will enhance the bowthruster and winch capability. There will also be two manual towing pins on the stern with the addition of a gobe eye and button rollers.

Full specifications are as follows:

Length overall:            26.02 mtrs
Length b.p.p.               23.36 mtrs
Beam:                            9.10 mtrs
Depth:                            3.60 mtrs
Maximum draft:             2.60 mtrs

Tank Capacities

Fuel oil:                        98.5 M3 (transferable)
Fresh water:                54.6 M3 (transferable)
Propulsion:                  Twin screw in optima knozzles
Bollard pull:                 30 tonnes (approx)
Power:                         2x Caterpillar 3508 diesel engines rated at 2250 bhp
                                      Bow thruster 160 hp
                                      Free running speed 11.5 knots
                                      Shipboard power 2 no caterpillar 85 kva generators
                                      Accommodation: 8 persons in five cabins
Main towing winch:    40 tonne pull 50 tonne holding force
Warping head:            included
Tugger winch:             10 tonne

Misc:                             2 no aft button rollers fitted (for enhanced barge handling
                                      2 no manual towing posts
                                      6 no deck lashing points (for container and cargo handling
                                      air conditioning fitted through out (to suit tropical conditions)
                                      box cooling flush clear system fitted (to suit tropical conditions)
                                      compressed air system fitted
                                      full UV sunscreens fitted to main bridge area

Mike Conafray and his team at MarineCo would like to thank all of their friends, family and customers for their continued custom and support and would like to wish everyone a Very Happy and Prosperous New Year!

DAMEN SHIPYARDS HARDINXVELD
P.O. Box 60 3370 AB Hardinxveld-Giessendam (The Netherlands)

I'm pleased to report that great progress is being made with the custom build of our new tug ("Toomai") - YN1580 Shoal buster 2609.

Marineco are delighted to announce the recent order of a new Shoalbuster 2609 with Damen shipyards. The new vessel will be delivered in May 2007 and will be named Marineco Toomai. Changes to the basic design are planned and we are currently working with Damen shipyards on the bespoke design. More information will be added to our website just as soon as the alterations have been agreed and formalised.

This is the first new build addition to the Marineco fleet and so we are naturally excited and looking forward to her arrival. The commissioning of a new vessel however represents a strategic shift for Marineco and ensures that we can continue to meet demand and be ideally placed for further growth in the future.

Marineco UK will be attending this years Seawork 2006 where you will find us on stand Number 61. This year our colleagues from Iskes Tugs and Seacontractors will be exhibiting with us and so we look forward to meeting all our friends and customers.

This is our 10th successful year in business and so please come along and celebrate with us...

Kind Regards

Mike Conafray

May 2006

Marineco UK are delighted to announce that we have joined forces with Iskes Tugs Marine Services bv of Ijmuiden Holland. In doing so we are now able to offer a far greater range of vessels to our customers. To this end the Marineco Baloo and the Marineco Rakshaa are currently on charter in Ijmuiden working alongside the Pollux whilst other vessels of the Iskes fleet are working on the Offshore Wind park at Egmond.

We will shortly be introducing a new section on our website that will offer links to our partner's websites.