Page 15: of Maritime Reporter Magazine (February 1998)

MARINE FINANCE

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STN Atlas Elektronik

Disincorporates Marine

Electronics Division

STN Atlas Elektronik disincorpo- rated its marine electronics divi- sion as of January 1, 1998, and transformed the division into an independent company operating under the name of STN Altas

Marine Electronics GmbH with its headquarters in Hamburg. The company attributed the move as making the unit attractive for future strategic alliances in the marine electronics sector, and is hailed by the parent as a move to strengthen the division.

TDI-Halter Tapped To Build

Three Sedco Forex Barges

TDI-Halter, Inc. signed a con- tract worth approximately $30 mil- lion with Sedco Forex of Paris for three cantilever drilling and inte- grated servicing barges for opera- tions in Lake Maracaibo,

Venezuela. Delivery is scheduled for June, August and September of 1998.

The barges are specially designed for drilling and well re-entry in 8,000-ft. depth wells. They will feature a cantilever drill floor extended to 50 ft. over the barge's stern and 40 ft. off the water.

Their overall length, inclusive of the drill floor is 230 ft. (70 m), with a 75 ft. (23 m) beam and 15 ft. (4.5 m) depth. The barge rigs will be outfitted with a centralized control cabin, first class accommodations for 44 persons, a 35 metric ton capacity AmClyde model 10000 pedestal mounted deck crane and helideck for a Bell 212. Upon delivery, Sedco Forex will dry tow the barge rigs across the Gulf of

Mexico to Venezuela.

Circle 37 on Reader Service Card

Afai Shipyard Starts

Expansion Plan

Afai Southern Shipyard (Panyu)

Ltd. has started a yard expansion project which entails building a series of buildings, as well as con- version of existing buildings. The shipyard, which is increasingly getting larger vessels, deems the moves prudent in accommodating additional staff.

Afai Ships Limited reported that the first K50 vessel is close to com- pletion. The K50 is a DNV-classed

February, 1998 17 262-ft. (80-m) vessel which has the capacity for 450 passengers and 89 cars, and is reportedly the first high-speed passenger/car ferry to be built in China. At press time, the yard reported that the super- structure was completed, the bow was being attached, and the interi- or outfit was underway with elec- www.Carhartt.com EXTREMES trical and mechanical installa- tions.

The vessel is built of 5383 H116 plate and 6082-T6 sections alu- minum alloy.

The hulls are divided into eight, vented, watertight compartments comprised of fore peak, two voids, pump compartment, long range

Circle 230 on Reader Service Card fuel tanks, fuel tank compartment, engine room and water jet com- partment.

The speed of 47.5 knots is obtained with four Ruston 16RK 270 diesels, rated at 5,500 kW each at 1,000 rpm. Each hull will be fit- ted with two Kamewa 80 SII water jet propulsion units.