Page 12: of Maritime Reporter Magazine (January 1998)

MARINE FINANCE

Avcorp Diversifies With Fast

Ferry Furnishings

Avcorp Industries Inc. signed a $2.6 million contract and a

Development and Marketing agreement with Catamaran

Ferries International Incorporated (CFI), a wholly owned subsidiary of B.C. Ferries. The contract is for three shipsets of furnishings com- prising more than 1,100 separate units per shipset. Production of the first shipset has already com- menced at Avcorp's Aerostructures

Division in Richmond, B.C.

Stolt Comex To Debut "Diverless" Ship In Mid-98

Stolt Comex Seaway is upgrad- ing a vessel which will reportedly be the first ship in the North Sea dedicated to deepwater diverless operations. The 1990-built

Atlantic Surveyor will be renamed

Seaway Kingfisher and operate in the North Sea from mid-April 1998. The upgrade, which will include equipping the vessel with remotely operated diving vehicles, will reportedly make Seaway

Kingfisher the first ship in the

North Sea to be solely dedicated to deepwater diverless inspection, repair and maintenance. Stolt

Comex reportedly will charter the ship for five years from a joint ven- ture company it owns with North

Sea Shipping A/S.

Bill Brown Wins Cruise

Vessel Contract

Bill Brown Enterprises has won a contract awarded by Chesapeake

Odyssey Cruises to furnish the

HVAC system on a new 160-ft. (48.7-m) cruise vessel.

The Carrier Transicold unit will be installed at the Chesapeake shipyard.

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Friede Goldman To Build

New Rig

Friede Goldman announced an agreement with Marine Drilling

Co. to build a new semisub- mersible drilling rig, Marine 700, using an existing bare hull. The project is estimated at $87 million for HAM Marine, a Friede

Goldman company. Marine 700 currently consists of pontoons, columns and partial first deck structure only. Purchased by

Marine Driling this year, the origi- nal Bingo 8000-designed hull was completed in March 1997, and parked offshore Stavanger

Norway. Marine 700 will be designed to work in water depths to 5,000 ft.

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Minoan Contemplates High

Speed Vessel Order

Minoan Lines is reportedly con- sidering ordering two more high speed vessels. As it took delivery of its second high-speed ferry

Ikarus, the company said in a statement that it intended to pur- sue a strategy of upgrading its fleet with new high-speed vessels.

The company is considering the vessels to replace aging units on its

Piraeus-Irakleon (Crete) service.

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