Page 30: of Maritime Reporter Magazine (June 1998)

Halter Extends Influence Abroad

Halter Marine Inc., a subsidiary of Halter Marine Group, Inc., along with Yantai Raffles Shipyard

Co., Ltd., and Yantai Taisun

Shipbuilding Co. Ltd., — collec- tively Yantai Shipyards — have formed Halter-Yantai Raffles

International, a joint venture to market and build marine vessels in Yantai Shipyards in Yantai,

China. Halter-Yantai Raffles will market offshore drilling rigs, plat- form supply vessels, anchor han- dling tug/supply vessels, utility vessels, tug boats, production units, multi-service vessels and pipelaying/derrick barges for deliv- ery worldwide.

John Dane III, chairman, pres- ident and CEO of Halter Marine

Group, Inc. who said, "Halter is committed to achieving global leadership in the construction of marine equipment, and this joint venture is integral to our strategy for accomplishing that goal.

Our customers have global opera- tions and they will be building a portion of their fleets of vessels and rigs in yards outside of the U.S. We are posi- tioning ourselves to service these worldwide requirements."

Yantai Shipyard is located on the island of Zhifu, part of the city of

Yantai, Sandong in northeast

China. The yard covers 555,000 sq.-m. and occupies 1,100 m. of coastline.

It is equipped with eight 1,000- ton capacity shipways connected to a single shipway and a 672-ft. (205-m) long, 148-ft. (45-m) wide and 26.2-ft. (8-m) deep graving dock.

The shipyard's existing facilities give it the capacity to build an equivalent of 20 tug/supply vessels per year or four rigs per year.

A significant capital improve- ment program is underway now, and when completed, Yantai will be one of the most modern ship- yards in the world with one of the world's largest graving docks.

With the availability of labor in the Yantai area and the support of

Halter, Yantai's world class facili- ties will be able to produce multi- ple boat, drilling rig, and produc- tion unit projects simultaneously.

Mr. Dane emphasized that

Halter-Yantai Raffles venture will not take away business that might otherwise go to Halter's U. S. ship- yards saying, "Our new China joint venture will capture some of the business that was going over- seas anyway, and additionally, we will be able to complete the outfit- ting in our U.S. yards of drilling rig hulls built in the Yantai

Shipyards."

Robert Fogal, senior vice-presi- dent of marketing and business development of TDI-Halter L.R will be the senior marketing officer of the joint venture.

Frontline Buys Cambridge

Tankers

Frontline Ltd. reached a deal with Cambridge Fund

Management to acquire six VLCCs and four Suezmax tankers. Under the deal, Frontline will gain con- trol of three shipowning structures — Golden State Holdings, Windsor

Holdings Ltd. and California

Petroleum Tankers Holding Ltd.

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John Dane III 30 Maritime Reporter/Engineering News