Page 10: of Maritime Reporter Magazine (May 1997)

MARINE FINANCE

Trends in shipbuilding demand 50 40 30 o m 20 10 0

Tonnage

Completed 22.3 _J Estimated J

I Completion | Prediction (34.5) (34.5) IMF, 1994 1995 1996 1997 1998 1999 2000 (CY) -•6— Yearly average —>

Shipbuilding demand after 1998 is shown supposing as excess tonnage is cancelled (left) and where some excess ship tonnage remains (right) at the end of 2000. (continued from page 8) which is available in Japanese and

English, call the Japan Ship

Centre (Jetro) at tel: +44 171 488 0311. (continued from previous page) in the first five years, and Hyundai has the option to expand the termi- nal to 100 acres. The Port already has acquired all of the permits nec- essary to begin construction. "The agreement works well for the Port of Tacoma and for

Hyundai.

It keeps Hyundai's Pacific

Northwest operations in Puget

Sound, and gives them a prime ter- minal location with the potential to expand to meet future growth needs," said Commission President

Jack Fabulich.

The Port laid the groundwork for new developments on the upper

Blair by completing a broad range of projects, including: major dredg- ing, deepening, and clean-up on the upper Blair; the Puyallup

Tribal Settlement; the opening of the new SR 509 corridor; and the removal of the Blair Bridge.

Diamond Offshore

Announces $81 M

Vessel Purchase

Talks underway regarding vessel conversion

Diamond Offshore Drilling, Inc. will acquire semi-submersible accommodation vessel

Poly confidence for $81 million.

The vessel was built in 1987, has

Class III dynamic positioning capabilities and is currently work- ing in the U.K. sector of the North

Sea. The company is reportedly in discussions with several oil compa- nies regarding conversion of

Poly confidence to a semi-sub- mersible drilling unit with fourth or fifth-generation capabilities.

Such a conversion would be depen- dent upon the receipt of a term contract commitment at favorable dayrates.

Halliburton Wins $120 M

Contract From Partnership

Halliburton Energy Services has won a five-year, $120 million con- tract from Shell U.K. Exploration and Production and NAM (Nederlandse Aardolie Maat- schappij B.V.) for the management

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Halliburton will supply Shell

Expro's northern and southern oil and gas developments in the U.K. sector and NAM's onshore and off- shore developments in Holland, and will execute a total materials management program.

Canadian Team To Develop

Vessel Tracking/Asset

Management System

On April 7, a Canadian consor- tium consisting of Offshore

Systems, CANAC/Microtel and

Dynapro Ltd. announced a strate- gic partnership for the design, development and delivery of a ves- sel tracking and asset manage- ment system. The consortium is currently targeting the second and third quarters of FY97 for roll-out of a demonstration system in

Vancouver.

The Automatic Vessel Positioning

System (AVIPS) product is a com- puterized automatic identification and tracking system with suitable applications such as automatic vessel traffic monitoring, monitor- ing portable pilot systems, asset management/fleet tracking and aids to navigation.

U.S. Naval Division Signs

Tracor Deal

Tracor Applied Sciences, Inc. has been awarded a contract with a potential value of $44.7 million to provide engineering, technical and logistics services to the Naval Air

Warfare Center Aircraft Division (NAWCAD), St. Inigoes, Md. The company will provide lifetime sup- port engineering and in-service engineering for radio communica- tions systems (RCS) and com- mand, control, communications, computer and intelligence systems aboard Aegis CG 47 and DDG 51 class ships and other surface com- batants.

Builder Adopts Document

Management Solution

Altris Software Inc. will install a

ProEDM system at Yarrow

Maritime Reporter/Engineering News