Page 119: of Maritime Reporter Magazine (June 1993)

tage of asset plays on the S&P mar- ket, meaning that private place- ments or public offerings of equity in such ventures are likely to be met with a stony response.

Owners do have the ability to exert some influence over the cost of their borrowings.

As the table shows, the total in- terest payments on a newbuilding can vary by as much as 50% - al- though the most expensive funding arrangements tend to be those which offer lower repayments in the short term, and may be the only way to allow owners to run to profit.

The problem of adequate funding is central to the development of the shipping industry over the next de- cade.

The pace of investment in new tonnage will largely be determined by the ability of owners to raise funds from investors, and in turn will provide a direction to the freight market. Anyone involved in the shipping industry will need to be aware of the scale of the problem and remain informed of the options available. Drewry's new report pro- vides a valuable tool to all those with an interest in shipping, as owner, charterer, builder, or finan- cier. For more information, contact

Drewry Shipping Consultants Ltd., 11, Heron Quay, London E14 4JF.

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L 120

Circle 197 on Reader Service Card

Intermarine To Launch Third

Osprey Class Minehunter

Intermarine USA recently launched the U.S. Navy Minehunter

Oriole (MHC-55).

The Oriole, launched May 22 into the Savannah River in Savannah,

Ga., is the third U.S. Navy ship of the Osprey class to be launched by

Intermarine. The ships are designed for mine hunting under all environ- mental conditions and are the world's largest vessels to be con- structed entirely of fiberglass. Bar- bara Robinson, wife of Baltimore

Orioles Hall of Famer Frank

Robinson, was the ship's sponsor.

Oriole is a larger version of the highly successful Lerici class Ital- ian Minehunters that served in the

Persian Gulf to assist in Operation

Desert Storm mine clearance.

Intermarine USA of Savannah,

Ga., is a subsidiary of the Ferruzzi

Group. Ferruzzi-Montedison is a leading international industrial group, with worldwide aggregate turnover of $25 billion.

Hagglunds Marine Wins

Multiple Orders

A leading international manufac- turer of cargo, service and offshore cranes, Hagglunds Marine has an- nounced record orders during the first quarter of the year.

The first order was for 74 crane units for 18 vessels being built pre- dominantly by German shipowners at yards in Poland, Germany and

Korea. Dominating the orders (49 of the 74) are rope-luffing cranes type

GL. GL is a container and cargohandling crane with a lifting capacity of five to 50 tons; it is totally enclosed and hydraulically- driven. To date Hagglunds Marine has more than 6,000 cranes in op- eration and employs a workforce of 400. For more information on

Hagglunds,

Circle 87 on Reader Service Card

MagneTek Transformers

Designed Especially

For Marine Applications

MagneTek has announced its new- est line of transformers designed specifically for the requirements of marine applications. The new ma- rine-duty transformers are "rugge- dized" for the environmental, noise and reliability demands of all types of commercial and pleasure ships, offshore oil rigs, dockside applica- tions and other harsh environment settings. The marine transformers are dry-type, copper-wound designs.

Features of the transformers include: low profile for easy integration; low noise design; internal bracing as re- quired for shipboard duty; vibration mounting available; and 2.5, five and 10 percent taps available.

For more information,

Circle 198 on Reader Service Card

Maritime Reporter/Engineering News