Page 18: of Maritime Reporter Magazine (November 2003)

President and CEO of TEN. "We will continue to expand our strong relation- ships with our clients in Europe and around the world by building, maintain- ing and providing tankers that meet our clients' individual requirements and by providing superior customer service and support." Overall TEN has 19 vessels operating with medium or long-term employment contracts or contracts accounting for 78 percent of estimated operating days for the remainder of 2003 and 62 percent for 2004. which should provide a sustainable flow of revenue and earnings and enhance shareholder value.

Cruise Port Expenditure to Reach $300M

U.S. ports are facing potential expen- ditures of SI50-300 million to meet existing Federal regulations for cruise facility design and space. That's the conclusion of a study launched this year by the American Association of Port

Authorities (AAPA). with the results unveiled at AAPA's annual convention in Curasao.

AAPA initiated the study to address cruise ports' pressing concerns over what it believes are elaborate, cumber- some. costly and duplicative Federal requirements. The association retained

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Partners, experts in facility design, to conduct the study and recommend solu- tions. Under current regulations, sepa- rate facilities must be provided at cruise ports for Federal inspectors to conduct immigration, customs and agriculture checks. Although these spaces typically are used only part time, the space accounts for up to 30 percent of the entire port facility. The study found that ports have invested millions of dollars and extensive time constructing and re- constructing facilities to comply with strict regulations, only to have these expensive facilities frequently go under- utilized. It is estimated that U.S. ports will need 56-70 new terminals over the next 15 years to keep up with cruise industry growth. Based on existing FIS guidelines, these terminals will require an additional 1.000.000 to 2.100,000 square feet of space to accommodate the agencies' requests, at a cost to ports of $150-300 million.

Austal Progresses on 192-ft. Passenger Ferry

Austal USA's latest project, the 192 ft. vehicle passenger ferry for Lake

Express. LLC, is quickly taking shape.

The tunnel has been stood and all of the piping and electrical wiring within the tunnel has been installed. Ninety percent of the hull frames have been stood in preparation for fitting to the main deck.

The wheelhouse module is 90 percent complete and plating has started.

Prefabrication work on the ferry is also in its early stages. The ferry will run across Lake Michigan between

Milwaukee, Wis., and Muskegon, Mich.

It will be the first high-speed vehicle/passenger ferry to operate with- in the Continental U.S. The aluminum catamaran will be the largest vessel so far and first of Autstal Ship's world-class

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Austal USA's purpose-built shipyard in

Mobile. Alabama. With capacity for 253 passengers and 46 cars, the Auto

Express 58 w ill be capable of 34 knots.

The service is scheduled to begin by the summer of 2004.

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