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ULTRAMAR CORPORATION REPORTS MARINE INCIDENT

 TARRYTOWN, N.Y., Jan. 5 /PRNewswire/ -- Ultramar Corporation (NYSE: ULR) reported today that the 89,000-deadweight-ton tanker "Braer," which was on a single-voyage charter to Canadian Ultramar Limited, its Canadian subsidiary, has run aground off the coast of the Shetland Islands at Garths Ness.
 The Braer is owned and operated by Braer Corporation, which is owned by B&H Shipping of Stamford, Conn. Under the terms of the charter, the ship owner is required to carry substantial pollution coverage and must be a member of TOVOLOP, an association of tanker owners.
 "We are treating this with the utmost sense of urgency," said Jean Gaulin, chairman and C.E.O. of Ultramar. "Under the charter party, the ship owner has primary responsibility for accident and pollution loss and damage. We have put the vessel owner on notice of its obligation to take whatever action necessary to minimize the damage and loss. On the scene, we are working closely with the Shetland Isles Marine Response Organization, which is a joint major oil company and local government response organization, so that every possible effort is made to prevent or contain a major spill."
 The Braer loaded an 85,000-ton cargo (607,000 barrels) of crude oil at Mongstad, Norway. The tanker sailed on Jan. 3 bound for Ultramar's St. Romuald refinery. At approximately 06:00 hours local time, the vessel experienced major machinery failure and lost all power and began to drift. The crew of 25 was evacuated by helicopter when it became apparent that the ship was going to run aground. The vessel went aground and is leaking from its bow and stern.
 In addition to the Shetland Isles Marine Response Organization, the U.K. Department of Transport's Marine Pollution unit are also assisting in the response effort. A rescue attempt of the vessel is being made by SmithTak, a salvage company.
 -0- 1/5/93
 /NOTE TO EDITORS: The 89,000-DWT-Braer is a single-hull tanker built in 1975 and is classified by Det Norske Veritas. The vessel is owned by Braer Corporation, which is part of the B&H shipping group of Stamford, Conn./
 /CONTACT: Steve Blank of Ultramar, 914-333-2019/
 (ULR)


CO: Ultramar Corporation; B&H Shipping ST: New York, Connecticut IN: OIL SU:

GK-OS -- NY072 -- 1862 01/05/93 15:42 EST
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Date:Jan 5, 1993
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