Here is an update on the status of our facilities and your assets in light of the ongoing clean up and recovery from hurricane Beryl.

First and foremost, we are pleased to inform you that our response teams and available crews, successfully gained access to our facilities Tuesday and began the cleanup and restoration of our yards, shops and docks. This was made possible due to our meticulous preplanning and strategic equipment staging prior to the arrival of Beryl. This proactive approach has enabled us to effectively manage the situation and ensure the safety of all vessels currently housed at our facilities. Rest assured, we maintain a sizable workforce and we will be able to man all vessels currently at our facilities once power is restored.

Channelview

As predicted, Market Street has experienced flooding in its usual areas. The water has now receded from the yard and all debris and hazards have been removed. However, Channelview is still without power due to multiple lines down on Market street. We are still waiting on an update from CenterPoint Energy for a timeline on power restoration. All vessels at our facility are secure, and our dedicated team, which includes onsite shore crew and the vessel The Mr. Bill, will continue to diligently watch over the vessels until we are fully operational.

Brady Island/Brady West

The Brady yards experienced significant winds during the peak hours of the hurricane. We are still in the midst of assessment, clean up and recovery at these yards. Power is limited but all vessels and docks are secure. Our team has conducted thorough inspections of all mooring lines and adjusted as necessary to enhance safety and security measures. We ask that you schedule a site visit with your Southwest representative until further notice as some areas of the yard still have hazards on the ground.

Moving forward, our teams will continue to actively monitor the facility, prioritizing safety at all times.

We are committed to keeping you updated on any developments and taking necessary actions to safeguard your assets.

If you have any questions or concerns, please do not hesitate to reach out to us. Your satisfaction and the safety of your assets remain our top priorities.

Thank you for your continued trust and partnership.