Page 10: of Maritime Reporter Magazine (October 1997)

iiEMMW project has a performance period of nine months.

MarAd's cooperative agreement with Marinette Marine Corp. is for

Phase II of the Transitioning to a 21st Century Advanced

Manufacturing Facility project — the goal of which is to significant- ly reduce the time and costs required to design and build ships by increasing standardization and reducing system and manufactur- ing complexity.

Phase I of the project developed the technology and production processes that allowed the ship- yard to market commercial designs internationally.

The total value of this agreement is approximately $3 million.

Marinette Marine Corp. will pro- vide $1.5 million in cash and in- kind services, and the Government will provide $1.5 million, of which $263,176 is FY97 funds. This pro- ject has a performance period of 24 months.

MarAd also recently approved four applications under Section 9 of the Shipping Act, 1916, as amended. Transocean Offshore

Inc. (formerly Sonar Offshore

Drilling Inc.) has been given per- mission to transfer to Panamanian registry and flag the mobile off- shore drilling unit Sonar George

Richardson, without change in

U.S. ownership. International

Ultimate, Inc., has received approval to transfer to Russian registry and flag the fishing ves- sels Ultimate No. 1 and Ultimate

No. 2, without change in the U.S. ownership. Permission was also granted to C & F Fishing Ltd. to sell purse seiner Jeannette to

Industrias Y Frigorificos

Pesqueros Infripesca C.A., an

Ecuadorian company. The vessel will be transferred to Ecuadorian registry and flag.

In addition, MarAd has received a request filed by Vane Line

Bunkering, Inc. (subsidiary of The

Van Brothers Co.), to sell tank barges VB31 and VB 32 to Smith

Dolphin Shipping Inc. of the

Netherlands. If approved, the barges would be used for barg- ing/bunkering service in the Gulf of Moracaibo, Venezuela.

Chantiers Gets Seismic Ship

Contract

GEC Alsthom subsidiary

Chantiers de l'Atlantique announced that it and Louis

Dreyfus Armateurs unit Sismique

SA have signed a contract to build a seismic survey vessel. The 328.08-ft. (100-m) ship is to be operated by CGG Marine, an affil- iate of Compagnie Generale de

Geophysique and is scheduled for delivery in March 1999. $30 Million Loan Guarantee

For High-Speed Ferries

Announced

U.S. Secretary of Transportation

Rodney E. Slater recently announced that MarAd approved a federal guarantee to help finance the construction of two high-speed passenger ferries for a new planned service between Miami and Key West, Fla.

In a letter of commitment to

Mersea Ships 1, Inc., MarAd reportedly agreed to guarantee approximately $30 million or up to

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