Page 89: of Maritime Reporter Magazine (June 1998)

S in the world with 197 vessels. r Revenues from offshore i '/ activities more than tripled from a year ago to $56.4 mil- lion as a result of acquisitions and higher day rates in all najor markets. In the Gulf of

Mexico, for example, where the ompany has 73 vessels, supply >oat day rates averaged $8,475 rersus $6,478 last year, while rewboat day rates were $2,419 versus $1,777 a year ago.

In offshore and harbor towing, where Hvide has become the lead- ing domestic consolidator, rev- enues grew two-and-a-half times to $9.5 million as a result of acqui- sitions, higher offshore day rates and increased port traffic.

In chemical transportation, where the company has a leading position in the Jones Act trade, revenues grew seven percent to $15.3 million. In petroleum prod- uct transportation, which includes the recently completed acquisition of two product carriers from Kirby

Corporation, revenues grew 26 percent to $5.4 million.

Mr. Hvide was also recently named as a finalist for the Ernst &

Young LLP Florida Entrepreneur

Of The Year Award. He was one of 27 executives selected by a 10- member independent panel of business and academic leaders representing diverse industries throughout the state.

Grupo Libra Expands Sales

Team

Grupo Libra appointed

Thomas L. Sadowski regional sales manager of its U.S. mid-

Atlantic territory. In this position, he will be responsible for sales efforts for the carrier's South

America service and will represent the company at trade shows throughout the area.

In addition, Mr. Sadowski will oversee Libra's activities in

Pennsylvania, Delaware,

Maryland, Virginia, West Virginia, and Washington, D.C. Mr.

Sadowski brings more than 13 years of experience in the mar- itime industry to Grupo Libra.

Before joining the company he served as an account executive for

Maersk Line and also held posi- tions at K-Line, Southern Pacific

Railroad, Union Pacific, and Cast

North America.

NKF Elects New Board Of

Directors

The shareholders of NKF

Engineering, Inc. (NKF) recently elected a new Board of Directors consisting of five members:

William Bierlin, chairman of

Hamburg Industries, Inc.; John

Claman, vice president of

American Management Systems,

Inc.; Jay Leader, NKF ESOP trustee; Jack Nicholas, Jr., Co- founder and chief engineer of

Maintenance Quality Systems,

LLC; and David O'Neil, president of Seaworthy Systems, Inc. and president of SNAME. NKF is a small business supporting U.S.

Navy and commercial customers within the disciplines of noise, shock, vibration and condition, and has recently broadened its scope of expertise to include joint force level architecture.

CUSTOMIZED

TONNAGE

Newbuildings

Offshore

Repairs

Conversions

Marine Engines

Circle 273 on Reader Service Card

June, 1998

ASTILLEROS

ESPANOLES

Grupo Astilleros Espanoles

Ochandiano 14-16

El Plantio 28023 Madrid-SPAIN

Tel +349 387 81 00

Fax +349 387 81 14 91