Page 8: of Maritime Reporter Magazine (May 16, 1985)

Korean Shipbuilders

Request Reduction

Of Interest Rates

The major Korean Shipyards have recently asked the Korean

Government to lower the interest rate on loans for ship and plant equipment exports on deferred pay- ment terms.

At a recent meeting arranged with the minister of commerce and in- dustry at the Plaza Hotel in Seoul,

Korean shipbuilders requested the reduction of interest rates from the current 9 percent for export ships and 10 percent for plant equipment to 8 percent and 9 percent, respec- tively, in order to cope with the cur- rent shipbuilding recession. The

Korean yards pointed out that Jap- anese General Trading Companies have now adopted a 7.5 percent interest rate, while the OECD Guide

Line is 8 percent.

Minister Keum-Jin-Ho said in reply to the request that he would look for ways to improve financing conditions, but the lowering of the interest rate would be difficult un- der the present circumstances. He said, however, that an increase in the ratio of loans from the Korean export and import bank would be

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Circle 179 on Reader Service Card

The 1985 Annual

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Circle 127 on Reader Service Card 10 considered from the current 70 per- cent to 80 percent to provide addi- tional Koexim (Korean Export/Im- port) funds.

Meanwhile, Korean yards re- ceived export orders for only four vessels of 125,425 gross tons valued at $89 million in the first three months of this year.

Westinghouse Awarded $20.8-Million Contract

For Nuclear Reactor

Plant Components

Westinghouse Electric Corpora- tion, Wilkins Township, Pa., was awarded a $20,860,000 modification to a previously awarded cost-plus- fixed-fee contract for replacement of nuclear reactor plant components for unspecified ships. The work, which is expected to be completed in September 1990, will be per- formed in Wilkins Township. Con- tract funds would not have expired at the end of the current fiscal year.

The Naval Sea Systems Command,

Washington, D.C., is the contracting activity. (N00024-85-C-4016).

Gems Sensors Offers

Kits To Custom-Assemble

Level Indicators —Literature Available

New from the Gems Sensors Divi- sion of Plainville, Conn., are Fabri-

Site Kits, which permit users to cus- tom-assemble level indicators to ex- act requirements. The indicators provide direct continuous level readout of water, oil, or most corro- sive or flammable liquids. External- ly mounted, the indicators can be used on tanks of various shapes and sizes. They feature bi-colored, inter- locking, magnetic flags which change color with moving float to indicate exact level of monitored liquid within the float housing. Un- like cloudy sight glasses, these indi- cators are safe, provide outstanding visibility and are virtually mainte- nance free.

FabriSite Kits include four differ- ent flag assembly lengths from 6 inches to 4 feet; clamps; switch mod- ules; and three different types of float assemblies. The floats are available in PVC or stainless steel.

The customer supplies his own pipe or tube. These components allow easy stocking and permit quick and easy custom assembly without spe- cial tools.

FabriSite Indicators withstand temperatures of 300°F and, depend- ing upon component selection, pres- sures up to 600 psi. Electrical switches may be incorporated for remote location monitoring. A com- plete custom assembly can be pur- chased as well.

For further information and liter- ature on the Gems Sensors Divi- sion's FabriSite Kits,

Circle 84 on Reader Service Card

Maritime Reporter/Engineering News