Page 66: of Maritime Reporter Magazine (August 2001)

Hyundai Heavy Wins

LNG Orders

South Korea's Hyundai Heavy Indus- tries won $340-million orders to build two LNG carriers for Golar LNG of

Norway. One of the ships will be deliv- ered by December 2003 and the other by

July 2004, said a spokesman for

Hyundai. With the new contracts, LNG orders for Hyundai Heavy have risen to six ships this year, worth about $1.02 billion, he said.

P&O Cruises Looks

To Boost Yield

P&O Princess Cruises, the world's third largest cruise operator, said lower holiday prices would cut revenue yields this year, but added it still hoped to boost earnings by cost cuts and lower tax rates. P&O Princess reported a slight fall in second quarter pre-tax profits to $93.8 million from $95.2 million a year ago, but earnings per share rose seven percent to 12.9 cents.

Lower prices led to the fall in pre-tax profits, and P&O Princess Cruises added in a statement that pricing

OfAdal puMnfia—

Lloyd's List t/

SHIP care

LSM remained "competitive" in its key North

American market, which counts for 75 percent of group turnover.

Analysts at Lazard investment bank felt P&O's international operations in

Europe and Australia, where the compa- ny said its trading environment was "positive," could help offset the effects of lower yields. Lazard, which rates

P&O Princess shares "outperform," added that the cost-cutting program could also boost its performance.

S.Y. Kuo Succeeds Steve Lin As

Evergreen Chairman

Captain S.Y. Kuo has been named

Chairman of Evergreen Marine Corpo- ration (Taiwan) Ltd., the shipping arm of the Evergreen Group, effective June 20, 2001. Captain Kuo, who will be headquartered in Taipei, succeeds Sun- san (Steve) Lin, who has been appoint- ed to the new position of Evergreen

Group Vice Chairman.

Captain Kuo was dispatched to the

U.S. in 1974 to establish Evergreen's full container liner services between

Asia and the North America market and had been involved with Evergreen in

America for 25 years.

Steve Lin joined Evergreen Marine in 1974 as a junior vice president and in 1977 was named executive vice presi- dent. In 1982, he was appointed presi- dent of EMC, a position he held until being appointed vice chairman in 1988.

Seabulk's CFO Elected

FICPA President

The Florida Institute of Certified Pub- lic Accountants (FICPA) has appointed

Seabulk's senior vice president and

CFO, Steve Nouss, as incoming FICPA president for the 2001-02 fiscal year, effective July 1. Nouss, who was elect- ed as FICPA's 94th president, will pro- vide leadership to the new, streamlined, 30-member Board of Governors, ensur- ing a smooth implementation of gover- nance changes passed last year. Nouss has been an active member of FICPA for 15 years, serving on a variety of com- mittees including nine times on the

Association's Board of Governors and six terms on its Executive Committee.

ACO Promotes Management

Positions

Abdon Callais Offshore, a marine transportation service company, has announced the following promotions:

Av Verdin was elected operations vice- president; Richard Savoie, logistics coordinator, also assists with trafficking vessels; Johnny Ordoyne has joined the management team as personnel coordinator; and Kenneth Lacoste has been named marine manager. www.shiprepairex.com

The Ship Care

Exhibition and

Conference

November 28th and 29th 2001

Grand Hall Olympia, London i * repair conversion hhjRepa^J

Conversion ^iBrf • i vft ma

IB maintenance m t«k aftersales

Lloyd's List events

Please send me more details on exhibiting at Shiprepair and Conversion 2001 ^

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