Page 68: of Maritime Reporter Magazine (November 1997)

$ 150-Million Planned For

Fleet devitalization

The purchasers of B&H

Maritime Carriers Ltd. reportedly plan to rename the firm Excel

Maritime Ltd. and launch share and bond issues to revive opera- tions over the next three to four months. Excel will seek to raise $100-150 million to finance acqui- sition of Aframax tankers, includ- ing ordering a new vessel, a spokesman said. Earlier last month, B&H Maritime was acquired by Michalakis Odysseos and Vilpa Investment SA for roughly $175,000 from B&H Ocean

Carriers Ltd.

World's "Most Powerful

Diesel" Tested

Wartsila NSD reports that the "world's most powerful diesel engine" successfully completed test-bed trials in Japan last month. The 12-cylinder Sulzer

RTA96C two stroke marine unit

The Anatoi

Lifetime Lubricated

Bearings

Work- hardened

Rope

Grooves

Vertical

Directional

Block

High Sheave to Rope

Diameter Grooves for increased Rope Life

High-Quality

Superior Steel

Block!

Precision made from superior steel for high strength and low weight. Rope grooves are work hardened during cold forming. High-efficiency, Lifetime

Lubricated Bearings are standard with all Jeamar Sheaves & Blocks for maximum performance.

Fast Delivery on over 25 Models! JeamarWinclies 1051 Clinton St. Buffalo, N.Y. 14206 Horizontal

Tel: (716) 854-3211 • Fax: (716) 854-4141 E'ona'

Single

Swivel

Block

Circle 268 on Reader Service Card

FOUNDRY AND MACHINE SHOPS SINCE 1860 FUNDITESA SANJURJ0

SPARE PARTS FOR MAR E S E L ENGINES

Cylinder liners, cylinder covers, and other spare parts of the finest quality for diesel engines

THE LATEST TECHNOLOGY BACKED BY THE GUARANTEE OF LONG EXPERIENCE

Postal Address Head Office Phone Fax Telex + 34-86-2053 12 +34-86-207024 83244 FDTSE P.O. Box 64 36280 VIGO SPAIN

Romeu, 19 (Corujo) 36330 VIGO SPAIN

Circle 245 on Reader Service Card has a power output of 89,640 bhp (65,880 kW) and is being built under license by and tested in close collaboration with Diesel United

Ltd. of Japan.

For more information on Wartsila

Circle 92 on Reader Service Card

PGS, Awilco Become One

Norway's Petroleum Geo-

Services (PGS) and offshore sup- ply group Awilco have merged, effectively creating a leading play- er in marine seismic and floating oil production markets. PGS will acquire Awilco's floating produc- tion, storage and offloading (FPSO) business in a stock deal valued at about $860 million. The transaction includes Awilco's two production vessels Petrojarl

Foinaven and Petrojarl I.

Van Ommeren Holding

Buys 12 Ships For $200M

Van Ommeren Shipping

Holding unit bought the entire fleet of Czech Ocean Shipping for approximately $200 million. The fleet of Czech Ocean Shipping con- sists of 12 bulk carriers, of which nine are Handy/Handymax and three are Panamax.

Norwegian Shipbuilding

Aid Extended

The EFTA Surveillance

Authority (ESA) approved

Norwegian plans to extend to the end of December 1997 aid to the country's shipbuilding industry.

The plans also extend the deadline for delivery of ships supported under the schemes to three years from when the contracts were signed, rather than the previous

December 31, 1998 deadline. The building of ferries can also now b< semi-publicly financed.

Festival To Spend $9 Million

On Cruise Ship Upgrade

Festival Cruises will reportedly spend $9 million to upgrade the

Southern Cross cruise ship it has just acquired from CTC Cruise

Lines. The 17,000-ton ship, to bj renamed Flamenco, will be refuij bished in Greece before sailing the Caribbean on its inaugurf] cruise on December 3. After tl modernization, the company wil have invested $32 million in thq 700-passenger vessel. 66 Maritime Reporter/Engineering News!