Canadian And U.K. Companies Form Joint Venture

Federal Commerce and Navigation Ltd., which through its subsidiary, Federal Offshore Services of Dartmouth/Halifax, Nova Scotia, Canada, will join with one of Britain's largest offshore service companies, Seaforth Maritime Ltd. of Aberdeen, Scotland, to form Seaforth Fednav Inc.

Commenting on the plans of the new company, Fednav president Denis Murphy has indicated that, as well as conventional rig supply activities, opportunities would be sought in operations that require a higher technology. These would include diving support craft, offshore maintenance tasks, floating supply bases, and offshore personnel transportation.

Based in Dartmouth/Halifax, the new company, which is subject to approval by the Canadian Foreign Investment Review Agency, will provide a pooling of both expertise and vessels, and will have additional offices in St.

John's, Calgary, and Houston.

The Seaforth Group has already received from the Canadian Minister of Transport permission to register a number of its vessels under Canadian flag, including two of its ice-classed vessels, Seaforth Jarl and Seaforth Highlander.

Federal Commerce and Navigation Ltd. is a subsidiary of the Montreal-based Fednav Limited, the largest international shipowning and chartering group based in Canada.

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