Page 18: of Maritime Reporter Magazine (February 1997)

MARINE FINANCE

Lawrence River. Kalvik and Terry

Fox are reportedly the most power- ful and newest icebreakers operat- ing in Canada.

In other company news, on Nov. 15, 1996, Fednav announced its purchase of the Canadian govern- ment's 51 percent interest in

Canarctic Shipping, owner of

Arctic, a 28,000-dwt Arctic class oil/bulk carrier vessel.

Sun Microsystems Provides

Info Tech Solutions To Navy

Sun Microsystems, Inc. announced that its wholly owned subsidiary, Sun

Microsystems Federal, Inc. has been issued one of three blanket purchase agreements (BPAs) for workstations, serveij«md related products from thejU.S.J|Navy, as part of the TScuwsJ^Advanced

Computer loiaAWarLstation (TAC open to the Navy,

Mar\naJ "Corps, other Defense

Department components and the

Coast Guard.

The BPAs will provide commer- cial information technology prod- ucts com- ma control application?

For more information

Circle 77 on Reader Service Card

Australian Co. Acquires

New Fleet Of Containers

Sea Containers Australia Ltd., a wholly-owned subsidiary of Sea

Containers Ltd., has acquired the

Australian domestic container fleet of Brambles Australia Ltd. for $13 million. This fleet of approxi- mately 3,000 containers will be added to the existing 5,000 con- tainer fleet of Sea Containers

Australia employed in the

Australian market, reportedly positioning Sea Containers the largest lessor of such equipment in this market.

Sea Containers Australia has its headquarters in Sydney and its managing director is Ian

Routledge, who has said that his company is expanding rapidly in the two-pallet wide container leas- ing market. Sea Containers Ltd. announced earlier this year its new patented SeaCell unit is two-pal- lets wide and can be carried in con- tainership cell guides, as well as meets the demands of the

Australian domestic land trans- port industry.

Sea-Land Enhances Gulf Of

Mexico Service

Sea-Land Service Inc., a unit of

CSX Corp. in Richmond, Va., has

This report, compiled by Shipping Intelligence, Inc., a New York maritime consulting firm, tracks sale prices of secondhand bulk carriers and tankers. For more information, call tel: (212) 997- 0966.

Date Vessel Vessel DWT Year Sale Price

Reported Name Type Built (M) 12/2/96 Oriental Pearl Bulker 20,189 76 $2.5 12/20/96 Med lerici Bulker 23,222 73 $2.5 12/20/96 Golden North Bulker 23,982 81 $6.2 12/16/96 Sunny Bulk Bulker 26,646 73 $2.6 12/9/96 Federal Matane Bulker 28,214 84 $9.5 12/20/96 Noble Star Bulker 28,637 77 $3.6 12/9/96 Lazaros L Bulker 28,637 77 $3.5 12/9/96 Ocean Fortress Bulker 29,125 84 $8.8 12/20/96 Hau Wan Bulker 30,868 81 $5 12/2/96 Jag Rani Bulker 34,135 76 $3.5 12/20/96 Platte Bulker 37,061 82 $3.5 12/16/96 Azteca I Bulker 39,070 87 $12.8 12/16/96 Western Mariner Bulker 42,239 84 $11.5 12/20/96 Nand Swasti Bulker 51,540 86 $14.4 12/2/96 Clarisse Venture Bulker 60,190 82 « tO 12/16/96 Stella Bulker 64,780 83 $8 12/16/96 Daiten Bulker 69,497 86 $14.3 12/2/96 Marquesa Bulker 71,831 77 $5.8 12/9/96 Forum Cape Bulker 112,686 73 $3.8 12/9/96 Thalassini Avra Bulker 129,237 81 $12.3 12/20/96 Hedvig Bulker 133,357 81 $9 12/9/96 Ikan Tongkol Bulker 138,490 82 $9.8 12/20/96 Mar Sofia Tanker 15,456 79 $4.5 12/20/96 Sukhumi Tanker 24,000 75 $2.2 12/20/96 Pacifica Tanker 29,840 85 $15 12/9/96 Astipalea Tanker 30,318 70 $2 12/16/96 Entalina Tanker 31,486 78 $7 12/9/96 Horizon XII Tanker 39,998 75 $3.5 12/2/96 Panagia Tanker 88,066 96 $30 12/16/96 Tonbridge Tanker 267,911 77 $7

Cascade General

Awarded Conversion Contract

Cascade General, Inc., operator of Portland Shipyard, announced award of a contract for conversion of 619-ft. (189-m) vessel Glomar

Explorer into a deepwater oil drillship. The job will involve fabrication of more than 4.5 million pounds of steel and reactivation of nearly every system on the vessel. The ship has been on layberth status since 1980 as part of the Maritime Administration's (MarAd's) Ready

Reserve Fleet (RRF). It is currently under long-term charter to Global

Marine Drilling Co., Inc., Houston, Texas. Final decisions on conver- sion details are still under discussiaiwbut according to Cascade

General Executive Vice Preside potentially total more than $ more than 200 workers a day delighted to win a contract ofctbis steel project ever perfortffed i\Pa major player in the U.S.I sel is scheduled to steel prefabricatkn"wor lenge of this job be 3-m) structures fro existing "moon poo! con1 owe, the contract could mean employment for month period. "We are itude. This will be the largest and. This job will position us as a market," said Mr. Rowe. The ves- land early this month, and design and already under way. The most unique chal- emoval of two, 200 x 74 x 9-ft. (61 x 22 x bottom of the ship's hull, and "filling in" the h 1,600 tons of new structure. New interior decking, a new thruster tunnel and a variety of ship's gear will also be installed to enable the vessel to drill in water up to 7,500 ft. deep.

After the conversion is completed, the vessel will reportedly sail to the Gulf of Mexico for final outfitting, and will then commence work for Chevron and Texaco in early 1998.

For more information on Cascade General

Circle 91 on Reader Service Card improved its service in the Gulf of

Mexico by adding a call at the Port of Houston, Texas. Under the new service, Sea-Land vessels now will call Houston on Friday, and will continue calling New Orleans on

Sunday. The service, which is expected to begin in mid-February, is expected to improve transit times to San Juan by two days for the Houston market. "Continued strength in the Puerto Rico market and our infrastructure improve- ments in San Juan give us the opportunity to improve service in the Gulf," said John Sullivan, vice president of Sales for Sea-

Land's Americas services.

In December 1996, Sea-Land improved its efficiency at its San

Juan facility with the addition of a third crane.

CSI Wins Southwest Marine

Contract

Custom Ship Interiors, Is has been awarded a c^i^^c^

Southwest Marine,^ncVtoJrenew portions of ' 200-ft. (60.: ted by formed al facilities, i larilla, a vessel gut- rk will be per- fyard's San Diego le work includes: engi-| neering; interior rough framing work; air conditioning/ventilation work; galley equipment, reefer and furniture installation; and some electrical installations.

For more information on CSI

Circle 81 on Reader Service Card

COFR Provider Announces

Gains

Shoreline Mutual (Bermuda)

Ltd., a specialist provider of

Certificates of Financial

Responsibility (COFR), announced a strong gain in market shares for 1996 and a restructured pricing program for 1997. Thecompany has reportedly issued guar- antees to dafce, wfitfi3V\l eltimat- repre- [lioj^gfand 40 per- jiercial COFR mar- fcmpany's largest gains made in the tanker cat- egory. Shoreline reported 47 per- cent of commercial COFR market for tankers and 37.5 percent of the market for commercial dry cargo.

Shoreline's restructured pricing |ll II I II I III llllll il I m | il e££»ffonJan. 1, 1997.

For more information on Shoreline Circle) 78 on Reader Service Card 18 Maritime