TOTE MARLIN Class Steel Cutting Ceremony – February 24, 2014

On Monday, February 24, 2014 a steel cutting ceremony was held at NASSCO Shipyard in San Diego, commencing the construction of the TOTE Marlin Class containerships.   TOTE Inc. President and CEO Anthony Chiarello stated:

“TOTE is proud to bring the world’s first natural gas-powered containerships to an industry that dates back thousands of years.  Our Marlin-class vessels will be the most advanced, environmentally responsible vessels of their kind – reducing vessel sulfur emissions by 98 percent while providing safe, reliable cargo deliveries that keep communities moving.

The first two Marlin-class vessels will be built at the General Dynamics NASSCO shipyard in San Diego.  These American-made ships are scheduled to be delivered in late 2015 and early 2016, and will operate between Jacksonville, Florida and Puerto Rico.

The investment demonstrates our committment to the people of Puerto Rico and our environment.  Thede vessels mark a new age of shipping, using the best technology in the world.

TOTE’s steel cutting ceremony on February 24, 2014 at NASSCO’s shipyard in San Diego marks the start of construction on hull no. 495, the first LNG containership in the world.”

The Marlin project will sustain more than 600 American shipyard jobs, and represents a capital committment from TOTE in excess of $350 million.  The Marlin-class earned the Next Generation Shipping Award at the 2013 Nor-Shipping Conference, making TOTE the first U.S. company to take home this prestigious award.