Page 99: of Maritime Reporter Magazine (October 1997)

major transshipment point for other west and central African states.

Otal currently operates three container ships and four large

RoRo vessels which call at Ivory

Coast.

NCL Buys Cruise Ship

NCL Holding has completed the purchase of the 1,056-passenger cruise ship Royal Majesty.

The company — which earlier last week said it will apply for a listing in the U.S. — said the 1992- built ship will sail as part of the

NCL fleet from November 10 under the new name Norwegian

Majesty.

NCL additionally revealed that it is making a $50-million private share placement to help finance the purchase of another vessel, the 1,186 berth Aida.

NCL said in August that it would pay $180 million to buy the

Aida from German company

Deutsche Seetouristik GmbH.

Hemen Holding Acquires

Six ULCCs

Frontline's main shareholder

Hemen Holding, has reportedly acquired six Ultra Large Crude

Carriers (ULCCs) from the Greek ship owner Latsis. Hemen

Holding reportedly intends to establish a separate company which will own the six oil tankers, as well as two VLCCs —

Fellowship and Friendship — which are controlled by Hemen

Holding.

The new company will reported- ly be listed on the Oslo Stock

Exchange, probably before the end of the year.

The six ULCCs — ranging in size from 357,000 dwt to 555,000 dwt — were estimated by shipbro- kers to have a value of $125 mil- lion to $130 million.

IMO'sO'Neil: People Key

To Safety At Sea

Increased vigilance and adher- ence to safety procedures and not new regulations are the key to improving safety at sea, said secre- tary general William O'Neil, the head of the International Maritime

Organization (IMO), in a message for World Maritime Day. "This is a problem that cannot be solved by adding more regulations. It requires a change of attitude — the adoption of a culture which puts safety at the top of its priori- ties." "Accidents do not just happen, they are caused...by people making mistakes. If we can correct this, then we can reduce accidents and save lives and property," he said.

O'Neil said changes to regula- tions have often had little relation to the cause of accidents and so do nothing to prevent them from being repeated.

Two new regulations adopted by

IMO will help the process of ensur- ing seafarers are able to imple- ment safety systems, he said.

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October, 1997 109