Page 12: of Maritime Reporter Magazine (September 1999)

BIW And Energy Research

Corp. Form Partnership

The Advanced Technology Division of

Bath Iron Works (BIW) and the Energy

Research Corporation (ERC) have part- nered to develop an advanced carbonate- based fuel cell energy plant for defense marine applications.

The partnership is an effort to improve ship electric power generation (also 12 known as ship hotel power), with the development of the high efficiency

Direct Fuel Cell (DFC) Ship Service

Fuel Cell. "The establishment of this alliance marks the beginning of a process we believe will lead to the development of the first new power gen- eration technology for surface ships since nuclear power was adopted for air- craft carriers," said Jerry Leitman, president and CEO of ERC.

Astromaritima Navegacao To

Upgrade OSV's

Astromaritima Navegacao, known as the largest Brazilian offshore vessels' owner and operator, plans to upgrade three of its 180 ft. (54.8 m) OSV's for an approximate cost of $4.5 million.

The first two of the vessel trio will receive a third engine and a second bowthruster to increase overall installed potency to 4,300-bhp. The remaining

OSV will house two new engines, with at least 2,200-bhp each, as well as a sec- ond bowthruster and midship section measuring 29.5 ft. (9 m). Financed by

Brazilian development bank, BNDES, the modernization process will be par- tially executed by Astromaritima's dry- dock, while Promar Shipyards will pro- vide related services from its Guanabara

Bay facilities in Rio de Janeiro.

Keppel Retools Tow Business

Keppel Hitachi Zosen Limited (KHZ) signed a letter of intent with Smit Inter- national to sell 49 percent of its wholly- owned subsidiary Maju Maritime to

Smit for a consideration of $5.39 mil- lion, resulting in a gain of $1.76 million to KHZ. Concurrently, Keppel Corpo- ration Limited and Keppel Marine

Industries Limited (KMI) are selling their respective shares of 31 percent for $8.68 million, and 20 percent for $5.6 million, in Keppel Smit Towage to

KHZ. The sale will consolidate all the

Keppel Marine Group's towage busi- nesses under KHZ and will have no material impact on KCL, resulting in a gain of $2.2 million to KMI.

The restructuring should be completed by the end of September.

NautiCAN Nozzles To Go On

Foss Towboats

Following the successful conversion of towboat Barbara Foss in 1994, Foss

Maritime Company has upgraded tow- boats Phillips Foss and Jeffrey Foss equipping them with NautiCAN High

Efficiency Nozzles, skewed propellers and Triple High Efficiency Differential- ly Linked NautiCAN Rudders. The

NautiCAN HE Nozzle reportedly helps achieve an additional 10-12 percent of bollard pull. At the same time, coeffi- cient of drag of NautiCAN airfoil sec- tion is 0.01 compared, allowing vessel to achieve greater free running speed.

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MSC, OSG Equip Their Fleets

With Malin 3000

FCS' Inc. Malin 3000, a portable pre- cision diesel engine analyzer continues to be the standard with OSG Ship Man- agement and Military Sealift Command (MSC). The program is a speedy, accu- rate and reliable way to determine the status of the main and generator diesel engines. The information can then be downloaded onto a desktop P.C.; a soft- ware program produces the drawcard indicator, and derivative, and provides timing, engine balance, and trends over time. The unit also contains the new

Windows software, which enhances the data's presentation and provides the use of color charts and graphics.

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FLOATING PRODUCTION

SYSTEMS a series of business reports to be published in

August 1999, December 1999 and April 2000 $1,400for the report series

Rapidly growing business sector — 107 floating production units are currently in operation, 21 are on order — and we see no slowdown of growth in this sector. Our forecast calls for the inventory of operating units to grow 48 to 66 percent between 2000 and 2005, requiring orders for 62 to 84 FPSOs, production semis, TLPs or spars over the next five years.

IMA's coverage — We closely follow this market sector and issue a series of business reports that • summarize floating production systems in opera- tion, on order and planned • assess underlying business conditions driving future activity in floating production • provide details for floating production systems planned, on order and recently delivered • identify recent developments impacting floater technology and companies /Va of utiin ill Floating Production Systems to Increase 48 to 66 Percent

Between 2000-2005 as of the end of each year

Contents of the August 1999 Report

I. INVENTORY OF CURRENT AND PLANNED FLOATING

PRODUCTION SYSTEMS 1. Floating Productions Systems Now in Operation 2. Systems Installed Since September 1996 3. Floating Systems Now on Order 4. Where Floaters are Currently Being Built or Converted 5. Floating Productions Systems Planned or Being Studied

II. ANALYSIS OF UNDERLYING MARKET DRIVERS

FOR OFFSHORE ACTIVITY 1. World Economy Recovering as Asia Turmoil Recedes 2. Growth in Crude Demand Rebounding 3. Major Producers Adhering to Agreed Cutbacks 4. Excess Stocks to be Drawn Down in the 2nd Half 5. Spot Oil Prices Have Returned to Fall 1997 Levels 6. Recent Developments Are Beginning to Impact E&D 7. What Are the Threats to the Current Recovery? 8. Is The Rise in the Price of Crude Sustainable?

III. FORECAST OF ORDERS FOR FLOATING

PRODUCTION SYSTEMS THROUGH 2005 1. FPSO Vessels 2. Production Semis 3. Tension Leg Platforms 4. Production Spars

IV. ASSESSMENT OF RECENT DEVELOPMENTS 1. Projects in the Planning or Design Stage 2. Floating Systems on Order 3. Systems Recently Installed 4. Equipment Acquisitions and Contract Changes

V. TECHNOLOGY AND COMPANIES 1. DeepStar 2. Heated Pipelines 3. Buoy Based Production Unit 4. M&A Continues in the Offshore Sector

How to order the report series — Just fax your order to 1-253-681-7453 or e-mail to [email protected].

Should you wish, call us at 1-202-333-8501 or mail your order to International Maritime Associates — 700 New Hampshire Ave., NW — Suite 103 — Washington, DC 20037 USA.

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