Page 19: of Maritime Reporter Magazine (June 1998)

GFR Starts Marine Debt Recovery Division

Global Financial Recoveries

Ltd. (GFR) started a new marine debt recovery division. The new company, Global Financial

Recoveries (Marine) Limited, will recover debts for suppliers, banks and insurance companies exposed to the international shipping industry. It will be managed by

Raymond Clarke, a former part- ner at City law firm Elborne

Mitchell. Group managing direc- tor, Jonathan Clegg, said, "We are delighted to bring this new ser- vice to the market providing no cure-no pay collections, including world wide ship arrest, when nec- essary. Contingent collections are nothing new, but the addition of the legal element is a first. We are all very excited at the scope for the

Oslo Exchange To Add

Havila Supply

Havila Supply ASA has been approved for listing on the Oslo

Stock Exchange (OSE). The com- pany is set for a listing on the

SMB list, the OSE's special alter- native for small-and medium- sized companies. Havila Supply

ASA was established in March 1998 by Per Savik and his associ- ates. Including three newbuild- ings currently on order, the com- pany owns and operates seven anchor handling, tug and supply vessels (AHTS), five platform sup- ply vessels (PSVs) and three mul- tifunctional stand-by vessels. The vessels are chartered out on a combination of short- and long- term contracts. The company has recently raised $65 million on the

Norwegian stock market. Based on a share price of $2 per share, the market value of the company is estimated to be about $84.2 mil- lion. With the addition of Havila

Supply, 18 shipping or offshore companies are listed on the OSE's

SMB list for small and medium sized companies.

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HZ Receives Order For

Enhanced Aframax Hull

Hitachi Zosen Corp. received an order for an Enhanced Aframax

Size Hull for FPSO from

Bluewater N.V. Netherland

Antilles. The hull ordered is simi- lar to the Aframax Size hull of

Bleo Holm, which was delivered by

Hitachi Zosen last year. The hull will be constructed at the Ariake

Works and towed to Europe for the installation of turret, topside facil- operation and believe that Ray is the ideal person to head up the operation."

New director, Raymond

Clarke, said, "The shipping indus- try as a whole is extremely depressed at the moment. All sec- tors are suffering, but particularly the suppliers. This service is intended to re-dress the balance."

GFR (Marine) Ltd. is part of

Global Financial Recoveries Ltd. which has offices in the U.K.,

Switzerland and Australia. It operates to maximize the collection of commercial debt, personal loans, residual mortgages, asset finance and credit card debts.

Raymond Clarke Jonathan Clegg

The sea respects no one - least of all the weak. She demands respect and receives it from those who live on her. We at Leslie Controls understand this and have made our products with the quality and reliability necessary for marine service. Quality and reliability are designed into each product.

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Leslie Controls.. .A tradition at sea.

LESLIE CONTROLS, INC. 12501 Telecom Drive, Tampa FL 33637-0903 (813) 978-1000 • Telex: 136445 • Fax: 813-978-0984

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Duplex Strainer 19