OPA 90 VESSEL RESPONSE PLAN

IMPACT OF NEW REGULATIONS ON INDUSTRY

The implementation date of the U.S. Coast Guard Salvage and Marine Firefighting Regulations (the “Regulations”), 33 CFR Part 155, has been extended from 30 June 2010 to 22 February 2011.

The Regulations will require certain vessel Owners and Operators (Plan Holders) to designate a Primary Resource Provider (PRP) for Salvage and Marine Firefighting services for each of the US Coast Guard’s Captain of the Port (COTP) Zones on which their vessels will call. The designation of a PRP must include a signed contract between the parties including an approved funding agreement. Plan Holders will be responsible for vetting the PRPs to ensure their compliance with all aspects of the Regulations. Specifically, the Plan Holder is responsible for preparing a Pre-Fire Plan in accordance with NFPA 1405 and having their contracted Salvage and Firefighting provider certify the plan. The Regulations also require the PRPs to examine the depth and breadth of their Salvage and Marine Firefighting capabilities, as they must be plan to respond to marine casualties within defined timeframes. The Plan Holder must identify which of the U.S. Coast Guard COTP Zones in which they operate, and the PRP must have a network for rescue towing, on-site assessment for Salvage and Marine Firefighting, and incident management within the designated COTP Zones. Additionally, the PRPs will be integrated into the Plan Holders’ incident management team during each incident requiring trained and experienced staff. PRPs will now be required to conduct and actively participate in Plan Holder drills and exercises.

As the salvage company with the largest and most comprehensive inventory of equipment and response personnel resources in the United States, T&T BISSO is totally committed to assisting shipowners in meeting OPA 90 Salvage and Firefighting regulations in ALL of the US Coast Guard COTP Zones, including Puerto Rico, Guam and Alaska. T&T BISSO specialized and state of the art salvage and firefighting assets will continue to be deployed and pre-staged around key US ports in order to provide owners with the best response possible to any Salvage and Firefighting incident. These assets are in addition to the extensive salvage, heavy lift, pumping, diving, lightering, and firefighting equipment T&T BISSO currently owns and operates throughout the U.S. Gulf ports where our main operational bases are located. In the past three years, T&T BISSO has invested millions of dollars to procure the necessary assets to augment its existing emergency response capabilities and network.

Historically, T&T MARINE SALVAGE and BISSO MARINE are “at home” in the busiest trade ports in the United States and have performed expert Salvage and Marine Firefighting services for over a century. Under the T&T BISSO banner, the network has grown and encompasses a worldwide coverage area of equipment and personnel. The T&T BISSO team possesses extensive experience in incident management and participation in Plan Holder exercises, including Harbor of Safe Refuge, Rogue Vessels, Marine Firefighting and Multiple Salvage operations. T&T BISSO works closely with the Plan Holder, Qualified Individual, P&I Club and Hull Underwriters in coordinating these exercises.