Page 13: of Maritime Reporter Magazine (February 1998)

MARINE FINANCE

German State Sells Yard To

Aker

A preliminary decision has reportedly been made in favor of

Norwegian interest Aker RGI on the second privatization of the

MTW shipyard. Aker RGI has upped the offer on the shipyard to $46.7 million from an original $44 million and is also prepared to pay an additional $2.7 million for the acquisition of the Elbe shipyard in

Boizenburg.

In addition, the consortium wants to guarantee 1,600 jobs rather than the 1,550 agreed pre- viously.

German bidding group and

Norwegian firm Ullveit Moe has also shown interest in MTW. MTW was firstly privatized by Bremer-

Vulkan-Verbund, which collapsed in 1996, and was later taken over by the state again. The new priva- tization still needs the approval of parliament and the BvS as joint owners.

Evergreen Unit

To Order 10 Containerships

Evergreen Marine Corp. (Taiwan) Ltd.'s inter-Asian shipping unit is placing an order for 10 containerships with a group shipyard.

Uniglory Marine Corporation has placed a provisional order with Evergreen Heavy

Industrial Corporation's

Nagasaki shipyard for ten 1,420 TEU P-class container vessels.

Delivery of the first ship will be in July 1999, following the scheduled completion in April of the last in a series of six 1,164 TEU vessels the yard is building for Uniglory.

According to Evergreen, the contract, which was scheduled to be signed last month, calls for the ships to be delivered at three month intervals, with the last vessel delivered in October 2001.

February, 1998

Northrop Grumman Wins $77.8M Navy Contract

Northrop Grumman Corp. has received a $77.8 million U.S. Navy contract for launcher systems pro- duction to upgrade U.S. Trident I nuclear submarines with new launch tubes and subsystems to accommodate the larger D-5

Trident II ballistic missiles.

The contract also covers deployed systems support which includes sustaining engineering and field and logistics support services for the Navy's fleet ballistic missile program. Plans currently call for four Trident I submarines to be upgraded to fire the D-5 missile.

Initially, Northrop Grumann

Marine Systems will build 24 launch systems for the USS

Alaska, to commence this year, to be followed by the USS Nevada, the USS Henry M. Jackson and the USS Alabama.

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