Page 10: of Maritime Reporter Magazine (March 1997)

MARINE FINANCE JAPAN: By The Numbers

Vessel & Equipment Contract News

Kvaerner, Umoe

Announce Bid

Collaboration

Kvaerner Rosenberg in

Stavanger and Umoe

Sterkoder in Kristiansund are cooperating on a bid for the construction of up to six

Norwegian escort vessels.

Kvaerner Rosenberg and

Umoe Sterkoder have formed a joint venture to bid for the planning, procurement and construction of the vessels.

Umoe will build the hull and carry out some of the fitting- out operations. Kvaerner

Rosenberg will plan, equip and commission the vessels.

Kvaerner Mandal is to build those elements where com- posite materials could be used.

Both companies emphasize the importance of positioning a strong Norwegian industri- al group to secure work for

Norwegian industry. Each have accepted the offer to participate in the Royal

Norwegian Navy's integrated project organization which aims to identify specifications for the vessels during 1997.

The Royal Norwegian Navy expects the contract to be awarded in 1999, with deliv- ery of the first vessel in 2004- 2005.

Lockheed Martin To

Supply Spanish Navy

On Jan. 31, Spain's

Ministry of Defense signed a letter of agreement with the

U.S. Navy designating the

AEGIS combat system for its newly approved F-100 class

Recent Ship Sales

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) 1/17/97 Balsa 35 Bulker 6,607 85 $3.3 1/17/97 Balsa 36 Bulker 6,596 85 $3.3 1/17/97 Balsa 37 Bulker 6,596 85 $3.3 1/3/97 Sarine 2 Bulker 12,334 82 $5.4 1/3/97 Linden Bulker 19,717 72 $1.5 1/24/97 Flora Bulker 24,022 81 $4.7 1/24/97 Khudozhnik Vladimir Serov Bulker 24,354 77 $2 1/24/97 Ocean Leader Bulker 27,125 81 $7 1/31/97 Federal Matane Bulker 28,215 84 $9.3 1/17/97 Buffalo Bulker 32,628 72 $1.6 1/17/97 Sincere Majestic Bulker 34,320 76 $3.1 1/24/97 Steel Flower Bulker 35,910 77 $2.6 1/17/97 Cargo Emerald Bulker 36,071 78 $6.3 1/3/97 Adrianople Bulker 37,873 77 $6.1 1/17/97 Aristogenis Bulker 40,300 78 $5.5 1/17/97 Aristotelis Bulker 40,300 77 $5.4 1/24/97 Pretty Flourish Bulker 46,500 97 $23.5 1/24/97 Pretty Prosperity Bulker 46,500 97 $23.5 1/24/97 Skaugum Bulker 47,000 97 $22.8 1/3/97 Crusader Venture Bulker 61,883 82 $8 1/17/97 Titus Bulker 62,180 81 $7.2 1/24/97 Ikan Bilis Bulker 63,800 83 $11.3 1/31/97 Otterpool Bulker 64,592 82 $9.8 1/10/97 Maryli Bulker 64,657 77 $5.7 1/3/97 los Bulker 65,298 85 $12.8 1/31/97 China Trader Bulker 66,732 84 $9.5 1/31/97 Dynasty Bulker 70,242 89 $17.4 1/3/97 Forum Glory Bulker 71,749 72 $2.7 1/10/97 Konkar Intrepid Bulker 77,776 71 $2.6 1/24/97 Channel Enterprise Bulker 151,380 90 $27.1 1/3/97 Matagrifone Tanker 4,469 91 $15 1/3/97 Jurong Tanker 5,200 81 $3 1/10/97 Awajishima Tanker 5,819 79 $2.7 1/3/97 Tenshun Maru Tanker 6,752 84 $5 1/31/97 Zavety llyicha Tanker 19,986 70 $1.2 1/3/97 Courier Tanker 22,255 81 $7.1 1/3/97 Santa Barbara Tanker 30,628 74 $3.7 1/10/97 Star Baltic Tanker 31,502 76 $4.5 1/24/97 Sibarde Tanker 31,955 76 $5.5 1/10/97 Leader Lt Tanker 40,490 82 $13.3 1/24/97 Flaminia Tanker 63,774 85 $20.4 1/3/97 Cosmo Mercury Tanker 65,581 80 $8 1/3/97 Knock Buie Tanker 137,309 75 $9 1/3/97 Svenner Tanker 141,178 76 $8.6 of frigates. Lockheed Martin

Government Electronic

Systems currently provides the AEGIS combat system to the U.S. Navy.

The agreement is projected to be valued at approximately $400 million for Lockheed

Martin over a six-year period, pending delivery and negotia- tion of combat system engi- neering and production pro- posals. Under the program,

Spain's Bazan Shipbuilders in the province of El Ferrol will build four F-100 class frigates. The AEGIS combat system will be provided to the

Spanish Navy through a

Foreign Military Sales (FMS) agreement with the U.S.

Navy. Lockheed Martin will provide four combat systems, with work beginning in the second quarter of 1997. "We are delighted with today's agreement.

The broad base of support from the

Navy, as well as con- gressional, labor and industry leaders made this agreement possible," said

Robert B. Coutts, president, Lockheed

Martin Government

Electronic Systems.

For more information

Circle 70 on Reader

Service Card

Litton Credit

Analysis Report

Discusses

Acquisitions

Acquisitions are likely to play a key role in Litton

Industries' future growth, according to a recently released

Duff & Phelps Credit

Rating Co. (DCR)

Credit Analysis report on the firm.

The company's 'BBB+' (Triple-B-

Plus) senior debt rat- ing balances its policy of defense acquisi- tions with its strong financial measures

Following are some key economic data in relation to the Japanese shipbuilding industry. (Sources: Japan Ship Centre, National

Transportation Statistics Handbook, Ministry of Transport).

Merchant Ship Production

In Japan: 1984- 1993 (thousands gross Ions)

Oceangoing Vessel Production in

Japan: 1984 - 1993 (thousands gross tons) " Dry Cargo

Vessels "Oil Tankers -Total

Domestic & Export New Orders In

Japan: Oct. 1996 - Jan. 1997 "Cargo "Tanker -Others "Total

New Ship Orders In Japan:

Oct. 96 - Jan. 97 1,500,000 1,000,000 500,000 •Total 10

Nov. 96 Dec. 96 Jan. 97

Maritime Reporter/Engineering News