Page 17: of Maritime Reporter Magazine (March 1997)

an oil spill trajectory model, prepa- ration of a natural resource dam- age assessment (NRDA) plan for

Thailand, development of an envi- ronmental recovery plan, and the preparation of an emergency oil spill response plan for PCD.

The consortium consists of IRC,

Babtie BMT (Asia) Ltd., BMT

Marine Information Systems Ltd.,

AEA Technology and STS

Engineering.

IRC is also reportedly in the process of establishing Thailand's first facility for treating waste oils from ships docking in the country, in order to further Marine

Pollution (MARPOL) guidelines.

For more information

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Day Cruise Operator

Negotiates Property

Development Agreement

U.S. day cruise operator Europa

Cruises Corp. has entered into an agreement with Hilton Gaming

Corp. which gives the latter exclu- sive rights to negotiate a joint ven- ture agreement with Europa for a 180-day period of time with respect to the development of Europa's

Diamondhead, Miss., property located on Bay St. Louis.

Hilton will pay $400,000 for the exclusive right to negotiate, and if the agreement goes through, will develop a destination resort at

Europa's 404-acre site. The site is adjacent to a site on which Circus

Circus Enterprises, Inc. intends to develop a destination casino resort and hotel. Europa owns and oper- ates four gaming ships — Europa

Sun, Europa Star, Europa Sky and

Europa Stardancer — which are homeported at four Florida ports.

OMI Completes Ship Sale;

Exercises Contract Option

On Feb. 3, OMI announced the completion of a sale/leaseback of its U.S. flag crude carrier OMI

Columbia. Proceeds from the transaction will reportedly be uti- lized to repay existing debts.

The company recently exercised the first of its two options with

Daewoo Corp. and Daewoo Heavy

Industries for the construction of

Suezmax crude carriers, bringing the total of vessels ordered from the yard to three.

OMI is a major bulk shipping company operating in world mar-

March, 1997 kets with a fleet of 33 vessels, aggregating approximately 2.8 million dwt.

Stolt-Nielsen To Acquire

Tank Container Business

On Feb. 3, Stolt-Nielsen announced that it entered into an agreement to acquire the tank con- tainer division of Challenge

International based in Le Havre,

France. Challenge has reportedly played a major part in developing the tank container industry in

France and currently operates 950 tanks in international trade.

Stolt Tank Containers will acquire the equipment and

Challenge employees will reported- ly be retained. The existing activi- ties of Stolt's container business in

France will be combined with those of Challenge and managed from Le

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