Page 87: of Maritime Reporter Magazine (October 1992)

FMC Wins $15.7 Million

Contract From Navy

FMC Corporation, Naval Systems

Division, Minneapolis, Minn., was awarded a $15.7 million dollar con- tract from the U. S. Navy to overhaul and repair four shipsets of Mk 26 guided missile launching systems for the U.S.S. Texas, U.S.S.

Ticonderoga, U.S.S. Vincennes and the U.S.S. Vally Forge.

APL's Parent To Refinance $100 Million In Bonds

The parent company of Oakland,

Calif.-based American President

Lines, American President Compa- nies, is attempting to refinance $ 100 million of Merchant Marine bonds in an effort to end the U.S. Maritime

Administration's (MarAd's) guaran- tee of such bonds.

As of June 1992, $105 million of the bonds remained outstanding, with $100 million issued under le- veraged leases.

By the end of July the company had issued notices for the redemp- tion of $5 million of the bonds. Dur- ing the second quarter of 1992,

American President Companies re- tired $4 million of the bonds.

The bonds were originally issued to finance part of the company's owned and leverage-leased fleet.

Bisso Reports Setting

New Salvage Record

Bisso Marine Company, Inc., of

New Orleans, La., has reportedly set a new salvage record for raising the largest line boat on the inland waterway system.

The 7,000 hp M/V Chris Way

MacMillan, measuring 220 feet by 45 feet, was raised from 43 feet of water at mile 106.8 A.H.P. on the

Mississippi River.

After the D/B Cappy Bisso and D/

B Cairo were secured to the wreck the operation was delayed four days due to the threat of Hurricane An- drew. When operations continued, the D/B Lili Bisso and D/B Ajax were also attached to the wreck to distribute the weight on the 1,200 ton hull.

The salvage operation took 12 working days to raise and deliver the vessel afloat at the job site.

For additional information about the services offered by Bisso Marine

Company,

Circle 135 on Reader Service Card

NASSCO Awarded $14.7 Million In

Navy Contracts

National Steel and Shipbuilding

Company, (NASSCO) San Diego,

Calif., received two contracts totaling $14.7 million from the Naval Sea

Systems Command (NAVSEA).

The first contract for $9.7 million,

NAVSEA N00024-92-H-8028, is for the regular overhaul of the U.S.S.

Vincennes (CG 49).

NAVSEA contract N62791-92-B- 0115, valued at $5 million, is for the drydocking and phased maintenance availability of the U.S.S. Fort

McHenry (LSD 43).

Plan To Revive Dominican

Ferry Link Considered By

Puerto Rican Investors

Recent reports indicate that the

Dominican Ferries may once again be put into service after being stopped about five years ago by the government. If the service is re- vived, daily cargo and passenger ferry service would be available from

Puerto Rico to the Dominican Re- public.

This is the result of eight inves- tors joining together to lease the $5.5 million Vancouver Princess, which is presently in service in Brit- ish Columbia. The Vancouver Prin- cess is 431 feet long and can trans- port up to 985 passengers, 125 cars and 30 forty-foot containers on each voyage.

Plans call for round-trip fares for the seven-hour voyage to be about $95 per person, with an increase to $229 for a small car and passenger. 'lhe ferry service will run be- tween Mayaguez, in western Puerto

Rico, and San Pedro de Macoris, in the Dominican Republic.

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