Page 47: of Maritime Reporter Magazine (October 1999)

We're everywhei you need us. all around the world. |

No matter where in the world you trans- port petrochemical products, MMC is never far away. In addition to the headquarters facility in the

U.SA, we have major manufacturing and marketing operations in the United Kingdom and Japan. Plus reliable agents almost everywhere else you need them.

This is the sales and service network that stands behind all'

MMC products - including C-L couplings, high-level alarm systems, and the closed gauging and sampling system shown below. When installed in an

MMC vapor-control valve, it forms a gas-tight system that keeps fumes from escaping and meets all environ- mental and safety regulations.

As with all MMC products, it is built to high standards of accuracy and durability. And remember if you ever need help, we're never far away.

Nothing but the best.

Inwood, New York 11096 U.SA

Phone: 1-800-645-7339 • Fax 1-516-371-3134

WEB: http://www.mmcintl.com • E-MAIL: [email protected]

Affiliated companies:

MMC Europe, Ltd. (UK) and MMC Asia, Ltd. (Japan)

Commercial Ship Financing

To this end, ASA is urging the Admin- istration and Congress to budget at least $50 million per year for the Title XI

Ship Loan Guarantee Program in fiscal year 2001 and beyond. This loan guar- antee fund must be replenished to enable ship buyers to secure commercial financing for the construction of more cruise ships, double hulled tankers, and fast cargo ships for which applications are either pending or expected to be sub- mitted later this year.

Amendments to the Tax Code

Legislation is also expected to be introduced later this year to significantly grow the cruise ship construction market in the United States through changes in the tax code giving American ship- builders tax parity with our foreign com- petitors. Suggested tax changes will include tax credits for builders of cruise ships; the payment of taxes on earnings derived from cruise ship construction only after completion of the contract; expansion of the Capital Construction

Fund to include not only the non-con- tiguous trades but also the domestic point-to-point trades and "cruises to nowhere", and removal of deposits into

Capital Construction Funds as an alter- native minimum tax adjustment item.

National Defense Features Program

ASA will also be working with Con- gress and the Administration to urge robust funding for the National Defense

Features Program (NDF) of the Nation- al Defense Sealift Fund. The NDF pro- gram was established to encourage the construction of dual-use ships in the

United States by allowing the Depart- ment of Defense (DOD) to pay for the defense features built into a commercial ship provided that ship was made avail- able to DOD to meet surge sealift requirements in time of national emer- gency. Studies by DOD have indicated that NDF surge sealift ships, because of their design and complement of a fully trained crew, would be more effective and two to three times cheaper than what

DOD is currently paying to purchase used commercial ships, converting them, and maintaining them in a lay-up status while waiting to be called into duty. The existing reserve lay-up fleet numbers roughly 90 ships, which are old, outdated, and past their scrapping date.

This year, Congress expanded the

NDF program in the Defense Authoriza- tion Bill to give the Navy the authority to pay up-front, in one lump sum pay- ment, the cost of not only constructing the defense features, but also the private sector cost for the design, maintenance, and operation of the features over the life of the ship. This statutory change 60th Anniversary Edition will eliminate the annual budget uncer- tainty that would otherwise be associat- ed with payments owed by the govern- ment to the private sector for costs incurred annually and make participa- tion in the program more attractive.

For example, FastShip, Inc. is interest- ed in participating in the NDF program and has determined that the life time cost of defense features that would be designed into its 40-knot fast cargo ships would be $40 million per ship. If the

NDF program is not funded by Novem- ber of this year, however, FastShip will proceed with a pure commercial variant and the DOD will be denied the benefit of a fleet of militarily optimized dual- use ships. The Administration and Con- gress need to budget $300 million annu- ally for the NDF program to provide for the construction of 7.5 NDF ships a year to replace the existing inactive fleet of reserve ships that are in dire need of replacement.

Extended Lease Authority for DOD

Auxiliary Ships

ASA is also optimistic that in the year 2000 Congress will expand on its initia- tive to encourage the Navy to enter long- term leasing contracts for its auxiliary ships by directing the Office of Manage- ment and Budget to score such leases as operating rather than capital leases.

This is critical because a "capital lease", under current government budget rules and anomalies, dictates that the cost of the entire term of the lease be scored in (continued on 12A)

C^D

New York Shipbuilding Launches

NS SAVANNAH

World's First Nuclear-Powered Merchant Ship

Christened By Mrs. Dwight D. Eisenhower

At Camden. New lersev. Shipyard

Circle 323 on Reader Service Card 7A

Made of high tensile bronze, they weigh no more than drilled plates.

Maintenance free, the savings in time and labor more than makes up for the initial investment.

Photographed on 'he foundling platform are, left to right; Edward L. Tcole, Presi- dent of New York Shipbuilding Corpora-

Hon; Mrs, Dwight D, Eisenhower, wife of

Ifcc President; Louis E. Wolfson, Chairman of the Boord o» New York Ship and of

Merrift-Chopmon & Scott Corporation, end

Mrs, Henry 8. Soylor, Controller of Cus- toms, Sovonnoh, Go., motron of honor for

Mm. Eisenhower.

C-L DECK COVERS

FOR TANK

CLEANING open or close in a matter of seconds; no screens needed for gas—freeing.

Installed without drilling holes,

C-L Covers save time and money; fit customary 1114" and 12%" deck openings without extra work;

Eliminates all nuts, bolts and washers; will accommodate desk thickness =t y4".