Page 16: of Maritime Reporter Magazine (September 1997)

Oslo Approves Secondary

Share Listing For Cruise Line

Royal Caribbean International said that it will go ahead with a secondary share listing on the Oslo

Stock Exchange, which the compa- ny believes is reflective of the glob- al nature of its business and its

Scandinavian links. No new shares will be issued as part of the sec- ondary listing.

The Oslo Stock Exchange said its board had approved the applica- tion, and thus RCI will be the third cruise shipping firm listed, after

NCL Holding and Miami-based

Cruise Holding Ltd.

SUNY Maritime Announces

Tuition Breaks For Mid-

Atlantic Scholars

Pennsylvania Gov. Tom Ridge recently signed an agreement with

New York Gov. George Pataki to provide major tuition cuts for

Pennsylvania residents who wis! to attend the State University oi

New York Maritime College at Fori

Schuyler. "Under this agreement,

Pennsylvania residents will be able to attend a first-rate maritime college while enjoying in-state tuition rates of $3,400 annually, rather than the out-of-state $8,300 rate," Gov. Ridge said. The col- lege will receive an additional $100,000 annual grant from

MarAd for its regional academy status. The newly-designated regional status will also enable the college to offer the same reduced tuition rates to five other states —

Connecticut, New Jersey,

Maryland, Virginia and Delaware — none of which have their own maritime colleges.

Tacoma To Break Ground

For Hyundai Terminal

Construction

The Port of Tacoma was to begin construction of a new container terminal for Hyundai Merchant

Marine (America) during a groundbreaking ceremony sched- uled for August 13.

In April of this year, the company — a subsidiary of Korea's Hyundai

Merchant Marine Co., Ltd. — signed a 30-year lease for a 50-acre container terminal on the Port's

Blair Waterway. The facility is scheduled to be in operation by mid-1999.

Cascade General Begins $ 14 Million Conversion

Project

Cascade General Shipyard in

Portland, Ore., is performing a $14 million conversion and recommi- sion on a former U.S. Navy frigate for its new owner, the Royal Thai

Navy. Work on the 440-ft. (134-m)

Knox class ship will include: sys- tem reactivations; electronic and equipment upgrades; repairs to boilers, pumps, propulsion sys- tems, stabilizer and rudder; dry- docking; and coating. Cascade is one of a few repair yards contract- ed to activate ships through the

Foreign Military Sales (FMS) pro- gram of the Naval Sea Systems

Command (NavSea). "Our people have performed well on past FMS contracts — we've been able to apply our com- mercial repair expertise to this 0 Autodesk. o you were surprised to get the entire design package so fast! That's because you haven't visited our offices recendy. Our Autoship systems have speeded up our work - and they let us use all of our knowledge, experience and creativity to develop the design that best meets the needs.

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