Page 12: of Maritime Reporter Magazine (February 1997)

MARINE FINANCE will be built by Samsung Heavy operate them under a bareboat

Industries Co., Ltd. at its Koje charter agreement. Chevron

Island Shipyard in Korea for deliv- ^ption^ut to 18 years. Each new ery in late 1998 and early 199fKy30|,0^0-awt tanker will be capable

Financing for the vessels ha^hee^^jf carrying approximately two mil- arranged by Cambridge Partne^ lion barrels of crude oil on voyages

L.L.C., a New YorWaaseti ifjv^t- from the Middle East to Chevron's ment bank. A ^ambria^sub- refining locations in the U.S. sidiary will reportedly owfci the ves- For more information on Samsung sels and Chevron Shipping will Circle 79 on Reader Service Card

Trico To Acquire Eight

Vessels For $36 M

Trico Marine Services, Inc. has entered into definitive agreements to acquire seven supply vessels and one utility vessel for $36.2 mil- lion in cash in two separate trans- actions. The first acquisition from

Laborde Marine, consisting of five supply vessels and one utility ves- sel, is expected to close by early

February. The second transaction for two supply vessels is expected to close in the second quarter. Both acquisitions will be financed under the company's credit facility. The first acquisition also includes a three-year charter contract for a supply vessel beginning mid-year.

USN Narrows The Field Of

Arsenal Ship Contractors

Three teams headed by

Lockheed Martin, Northrop

Grumman and General Dynamics

Corp. each won $15 million con- tracts to develop prototypes of the

U.S. Navy's (USN) next Arsenal

Ship. Teams headed by Hughes

Aircraft Co. and Rockwell

International Corp. were not given further contracts following the award of $1 million grants in

July 1996 to all five competitors, for work associated with the pro- vision of initial design concepts.

Ingalls Shipbuilding Division of

Litton Industries will join

Lockheed Martin and Newport

News Shipbuilding in jointly developing one complete Arsenal

Ship design for the Navy and

DARPA. One team will be select- ed from the three in early 1998 to continue in the third phase of the program, which will involve the detailed design and construction of the first ship. Follow-on phases will include contracts for testing the first ship, as well as construc- tion and support of five additional ships, which will be capable of providing deterrence, initial strike, naval surface fire support of marine and army forces ashore, and battle space dominance. The ships will incorporate stealth technology, a highly-survivable ship structure, and state-of-the- art automation systems for reduced crew levels and lower operating costs.

The members of the three teams are as follows: • Lockheed Martin; Litton

Industries/Ingalls Shipbuilding;

Newport News Shipbuilding; and

Government Electronic Systems. • Northrop Grumman Corp.;

National Steel and Shipbuilding

Co.; Vitro Corp., Rockville, Md.;

Solipsys; and Band Lavis &

Associates, Inc. • General Dynamics, Bath Iron

Works, Raytheon Electronic

Systems and Science Applications

International Corp.

Circle 203 on Reader Service Card Maritime Reporter/Engineering News