Page 16: of Maritime Reporter Magazine (March 1999)

MOSAT Joint Venture Has Greek Flavor

Mobil Shipping and Transportation

Company (MOSAT) has formed a joint shipping venture with two premier

Greek shipping organizations, the Onas- sis Group and the Petros J. Goulandris

Sons Group, to acquire two very large crude carriers (VLCCs). The vessels will be employed in Mobil's worldwide system under long-term charters with the Onassis Group and the Goulandris

Group collaborating in the technical management of the vessels. Delivery is scheduled for the fall of 2000.

The new joint venture company,

MARCARE Shipping Co., in which all three partners hold an equal share, will be the owner of the two high quality, state-of-the-art, double-hull VLCCs to be built by Hyundai Heavy Industries. "We are pleased to undertake this joint

The Bollinger Ad

Bollinger

QUALITY

Repairs, Conversions, Newbuilds • ISO 9001 Certified

Nine Gulf Coast Locations • 23 Drydocks—8100 Ton Capacity

Full Service Machine, Electrical and Propeller Shops 24 Hours a Day—7 Days a Week

Since 1946, the Bollinger name has been synonymous with qual- ity of work, reliability of performance and excellence in crafts- manship. Bollinger has always meant innovation, fair price and family commitment.

After more than 50 years, it's still that way.

Because it's our name.

Post Office Box 250 • 8365 Highway 308 South • Lockport, Louisiana 70374

Telephone: 504.532.2554 • Fax: 504.532.7225 • www.bollingershipyards.com

Circle 210 on Reader Service Card

FQ •ppn p 'JjSngJ^ • [V ^V^ATypQ.^. I n ,Tv .s- Tractor Tug ^ b I HhJUt; I bKb! roNOWDEact

SCHOTTEL

Schottel, Inc. 500 Industrial

SygariTarfid, TX 7£478~--USA

Tel: 281/ 274-0475 • Fax: 281/ 274-0490

A Partnership between Baylor and Chattel- Werfh

I Circle 293 on Reader Service Card I venture with our first class partners who each in their own right represent quality, commitment and a long history of suc- cess in the shipping business," said Ger- hard Kurz, president of MOSAT.

Onassis Group Directors Anthony

Papadimitriou and John Ioannidis joined the Goulandris Group in express- ing their confidence that the MAR-

CARE Shipping structure, in which all parties have a vested interest in the ven- ture's long term success, represents a very welcome evolution for the shipping industry. "The experience, expertise and resources of three prominent shipping organizations, pooled to a common goal, can prove an effective force for the future," they said.

Kamewa Signs On

With FastShip

Swedish-based Kamewa, a subsidiary of the marine division of Vickers pic, has entered into an agreement with Fast-

Ship Inc. to design and develop the world's largest ever water jets. The

Kamewa water jets are to be developed for the first four vessels to be introduced as part of a revolutionary new ocean cargo transport system which will offer a premium seven-day North Atlantic transportation network for high-value time sensitive goods (HVTS).

The core of the FastShip system is a fleet of patented high-speed ships able to run at speeds of 36 to 40 knots even in rough seas. The basic design of the vessel has been verified by Det Norske

Veritas. FastShip plans to begin com- mercial service between Philadelphia and Cherbourg, France by the year 2002. The water jet propulsion system provided by Kamewa will be an integral component of the FastShip design. With an inlet diameter of 10.6 ft. (3.25 m), the water jets will be twice the size and power output of the largest units cur- rently in operation, and will provide 50 mW of propulsive power per unit. Each vessel will have five Kamewa water jets and each jet will be driven by aero- derivative, marinized jet engines. "Our newly formed partnership with

Kamewa will provide great support for this unprecedented venture in ocean transportation. Kamewa water jet tech- nology will be key in helping realize

FastShip's vision of revolutionizing ocean cargo to provide customers with delivery speed and reliability which is comparable to airfreight, at a cost closer to conventional shipping rates," said

Einar Pedersen, chairman and CEO of

FastShip, Inc. Kamewa is considering constructing and assembling portions of the water jets in Philadelphia.

Circle 104 on Reader Service Card 18 Maritime Reporter/Engineering News