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Page 19: of Maritime Reporter Magazine (June 1998)
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GFR Starts Marine Debt Recovery Division
Global Financial Recoveries
Ltd. (GFR) started a new marine debt recovery division. The new company, Global Financial
Recoveries (Marine) Limited, will recover debts for suppliers, banks and insurance companies exposed to the international shipping industry. It will be managed by
Raymond Clarke, a former part- ner at City law firm Elborne
Mitchell. Group managing direc- tor, Jonathan Clegg, said, "We are delighted to bring this new ser- vice to the market providing no cure-no pay collections, including world wide ship arrest, when nec- essary. Contingent collections are nothing new, but the addition of the legal element is a first. We are all very excited at the scope for the
Oslo Exchange To Add
Havila Supply
Havila Supply ASA has been approved for listing on the Oslo
Stock Exchange (OSE). The com- pany is set for a listing on the
SMB list, the OSE's special alter- native for small-and medium- sized companies. Havila Supply
ASA was established in March 1998 by Per Savik and his associ- ates. Including three newbuild- ings currently on order, the com- pany owns and operates seven anchor handling, tug and supply vessels (AHTS), five platform sup- ply vessels (PSVs) and three mul- tifunctional stand-by vessels. The vessels are chartered out on a combination of short- and long- term contracts. The company has recently raised $65 million on the
Norwegian stock market. Based on a share price of $2 per share, the market value of the company is estimated to be about $84.2 mil- lion. With the addition of Havila
Supply, 18 shipping or offshore companies are listed on the OSE's
SMB list for small and medium sized companies.
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HZ Receives Order For
Enhanced Aframax Hull
Hitachi Zosen Corp. received an order for an Enhanced Aframax
Size Hull for FPSO from
Bluewater N.V. Netherland
Antilles. The hull ordered is simi- lar to the Aframax Size hull of
Bleo Holm, which was delivered by
Hitachi Zosen last year. The hull will be constructed at the Ariake
Works and towed to Europe for the installation of turret, topside facil- operation and believe that Ray is the ideal person to head up the operation."
New director, Raymond
Clarke, said, "The shipping indus- try as a whole is extremely depressed at the moment. All sec- tors are suffering, but particularly the suppliers. This service is intended to re-dress the balance."
GFR (Marine) Ltd. is part of
Global Financial Recoveries Ltd. which has offices in the U.K.,
Switzerland and Australia. It operates to maximize the collection of commercial debt, personal loans, residual mortgages, asset finance and credit card debts.
Raymond Clarke Jonathan Clegg
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