Page 12: of Maritime Reporter Magazine (October 1997)

87.5 percent of the estimated $34 million cost for both ferries.

The aluminum twin-hull vessels each will carry up to 300 passen- gers and will be built by Bollinger

Shipyards for Mersea. The first ferry is scheduled to be delivered 12 months after construction begins, and the second three months later.

NY Economic Development

Solicits Proposals

EDC recently issued a Request

For Proposals (RFP) for a consul- tant to prepare a strategic plan to redevelop the Port of New York.

The RFP calls for the selected consultant to perform a Major

Investment Study (MlS)-level analysis of New York City's port development options and to gather information on project cost and benefits. This detailed analysis will result in a strategic plan to revitalize maritime commerce in

New York City and enhance the entire Port of New York/New

Jersey complex.

The MIS-level port analysis will be prepared with input from all constituents in hub port develop- ment. EDC will reach out to busi- nesses, impacted communities and local officials to ensure their involvement in the project.

It is also working closely with the

Army Corps of Engineers, which currently is examining which channels in New York Harbor to deepen and to what depths.

Key components of the analysis are the identification of potential markets for the Port of New York and areas in New York City suit- able for major port expansion.

JMS Wins UNOLS Fleet

Inspection Contract

Jamestown Marine Services (JMS) has been awarded a five- year contract to conduct seawor- thiness and safety inspections of the University National

Oceanographic Laboratory System (UNOLS) research fleet for the

National Science Foundation. The

UNOL's fleet consists of 28 research vessels owned and oper- ated by individual education and research institutions throughout the U.S. and North America.

Golden Ocean Group Sells $200 Million Note Issue

Golden Ocean Group Ltd. has sold $200 million of 10 percent senior notes in a private place- ment arranged by Sutro & Co. and

Libra Investments, Inc. The notes, which mature in 2001, were pur- chased by institutional investors.

The bulk of the proceeds from the private placement will be used to pay for new ships and to finance remaining payments of ships already in the company's fleet.

Oceaneering To Construct

Five Additional ROVs

Two new Hydra Millenniums and three new Hydra Magnums will be manufactured at Oceaneering

International, Inc.'s Morgan City,

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