Page 16: of Maritime Reporter Magazine (March 2003)
NNS Awarded Contract
Northrop Grumman Newport News,
Newport News, Va., is being awarded a $23.1-million firm-fixed-price contract for the interim dry-docking of the USS
Minneapolis/St. Paul (SSN 708). This effort will include maintenance, repair and ship alteration. Work will be per- formed in Newport News, Va., and is expected to be completed by June 2003.
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Tsakos Expands Fleet
Tsakos Energy Navigation Limited has received two new vessels from
Imabari Shipyards in Japan. The
Aframax Marathon immediately entered into an accretive repositioning voyage with a major South American oil con- cern. The Panamax Maya, the first in a series of four new fully coated pana- maxes, was received on January 24. and also immediately entered into an accre- tive repositioning voyage with a major
Asian oil concern. Including these two vessels, TEN expects to add six new- buildings to its fleet in 2003. TEN has arranged financing for the remaining
Aframax and one of the three additional
Panamaxes scheduled for delivery 2003.
Remaining financing needs include two
Panamaxes scheduled for delivery in the second half of 2003 and one handy-size products carrier to be delivered in 2004.
Graig Group Secures
Orders For Bulk Carriers
Graig Group has secured seven firm orders for its modern double-hull ultra handymax Diamond 53 bulk carrier.
Graig has ordered two Diamond 53's from Shanghai's New Century yard.
Athens-based Thenamaris has taken two
Graig orders from the same yard, and
Scandinavian interests have confirmed, through Graig, three orders at
Shanghai's Chengxi yard. First deliver- ies will begin in January 2005. A total of nine options have been granted by the two shipyards.
General Maritime To
Acquire 19 Tankers
General Maritime Corporation has agreed to acquire 19 tankers, including 14 Suezmax and 5 Aframax vessels from
Metrostar Management Corporation, a
Greek tanker operator. The acquisition of the vessels is expected to commence on March 1, and to be concluded by
April 30. 2003 during which time the vessels will be integrated into General
Maritime's fleet operations. On a com- bined basis, the company's new fleet will be composed of 47 tankers, 28
Aframax and 19 Suezmax tankers. The combined fleet will have a total of 5.6- million dwt. Three of the acquired tankers have time charter contracts attached to them at an average rate of $23,700 per day.
ABS, MMS to Collaborate on Offshore, Gas Ops
ABS has signed a Memorandum of
Agreement (MOA) with the U.S.
Department of the Interior's Minerals
Management Service (MMS) that estab- lishes a formal framework for scientific and technical collaboration between the two organizations with respect to off- shore oil and gas operations. The agree- ment represents formal recognition by the MMS of the technical expertise of
ABS in design review and survey of off- shore facilities to verify compliance with applicable regulatory requirements.
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Bethlehem Agrees in
Principle to Sell Assets
Subsequent to its bankruptcy filing,
Bethlehem Steel Corporation has reached an agreement in principle with
International Steel Group (ISG) for the sale of substantially all of Bethlehem's assets.
The agreement is subject to the approval of Bethlehem's board, the com- pletion of an asset purchase agreement, the approval of the bankruptcy court having jurisdiction of Bethlehem's chap- ter 11 case and the satisfaction of certain conditions to closing, including required governmental approvals and other con- sents, and the resolution of certain claims by the Pension Benefit Guaranty
LR to Class New Fleet of
Lloyd's Register will class a series of five 8.100 teu container ships to be built at Samsung Heavy Industries. The ships, ordered by Seaspan and China Shipping
Group, are the largest container vessels to be built in South Korea.
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