Page 96: of Maritime Reporter Magazine (October 1997)

IMlIMliW cates, issued to each Ukrainian citizen.

New Feeder Service Launched From

U.S. Gulf Coast

Caribbean General Maritime Ltd. (Cagema) has launched a new weekly feeder container shipping service between the U.S. Gulf, Mexico and the Caribbean.

Cagema said the new Gulf Express Service would link up with the trans-atlantic services operated by its parent, France's CMA-CGM

Group.

Operated with two vessels, the Arcadian Sky and Camira, the service will call at the ports of

Miami, Veracruz, Altimira, Houston, Kingston and Freeport. Cagema said the service will link up with CGM's North Europe-West Coast of

South America service at Kingston. It will also link with the U.S.-Mediterranean service oper- ated by CMA. CMA acquired CGM from the

French government last year.

Circle 313 on Reader Service Card

Circle 370 on Reader Service Card 106

IHC Caland To Acquire Giessen

Shipyard

IHC Caland NV reportedly expects to rl full agreement to take over Giessen-de Nl shipyard. IHC has agreed to pay 80 guill per share for all shares of Giessen-de Na once an agreement is reached. IHC expectl complete the takeover during the fourth qi ter of 1997, at which tiime Giessen-de Nq will continue under its own name and agers.

Kazakha, EBRD Launches $74-M

Caspian Port Upgrade

Kazakhstan launched a joint $74 million pi ject with the European Bank for Reconstructs and Development (EBRD) to upgrade its imp| tant Caspian Sea port of Aktau.

The EBRD is reportedly providing $54 lion for 14 years at an interest rate of sevJ percent a year. The Kazakh government wou| invest $20 million.

The upgrade is designed to increase freigl] turnover to eight million tons a year, includir six million tons of oil products and two millic tons of dry cargo.

Holland America Sells Flagship 5S Rotterdam

Holland America Line, a unit of CarnivaJ

Corp., said it is selling its flagship, the S£

Rotterdam, to Cruise Holdings Ltd., under lease/purchase arrangement. Holland Americs said it plans to transfer operation of the ship to

Cruise Holdings in early October, and that the ship will retire from Holland America service on September 30.

Coincident with the sale of the SS

Rotterdam, the company said it will introduce its newest and most luxurious cruise liner, the

MS Rotterdam VI.

Jebsens Chairman To Step Down

Atle Jebsen is to step down as chairman of

Jebsens S.A. after selling his 70 percent stake in the company to Actinor Shipping ASA.

Jebsen will leave the company he founded after the completion of the deal, which is scheduled for November 1. Actinor announced earlier it would acquire Atle Jebsen's stake in Jebsens

S.A., a holding company for the North Sea bulk carrier specialist, for $20 million.

Bergen-based Jebsens S.A. operates 70-80 time chartered vessels, carrying a major por- tion of Norway's bulk imports and exports.

Sea Malta Sells Ship To Turkish Firm

Sea Malta has reportedly sold its RoRo ves- sel Senglea to a Turkish interest and plans to

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