Page 88: of Maritime Reporter Magazine (June 2003)

company's largest business with a fleet of 125 offshore energy support vessels, fell to $37.8 million from $43.3 million in the year-earlier period and accounted for 49 percent of total company rev- enues.

AMSC Appoints New CFO

American Superconductor Corporation (AMSC). has appointed Kevin Bisson as senior vice president and CFO.

ACM, Medfin Form Joint Venture

A new ship sale and purchase joint ven- ture has been established between

Medfin Ltd., the Turkish affiliate of

London-based ship finance consultant

Eurofin, and shipbroker ACM S&P

Projects, a division of ACM Shipping

Services London. The joint venture, which began operations on May 1. 2003, will conduct business from Medfin's offices in Istanbul in conjunction with

ACM. Cemil Gucuyener, who has been recruited by Medfin to spearhead the operation, will manage the new venture.

Salvage Assoc. Opens in Houston

The Salvage Association (a trading style of BMT Salvage Ltd.) has established an office in Houston to provide full marine and offshore consultancy services with

Robert Hoppell and Allan Schultz as resident surveyors.

LaBarge Awarded $1.3M Contract

LaBarge, Inc. has been awarded a $1.3 million contract from Lockheed Martin,

Syracuse. N.Y., to manufacture

Integrated Electronics Mast (IEM) cable assemblies and interconnect devices for the U.S. Navy's next-generation attack submarine, the Virginia class.

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NI Validates Singapore DP

Dynamic Positioning Center (in con- junction with Singapore Maritime

Academy) announced the validation of its new dynamic positioning (DP) train- ing school in Singapore by the Nautical

Institute (NI).

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Sperry to Supply for RoRo

Northrop Grumman's Sperry Marine business unit received an order from

Jinling Shipyard, Nanjing, to supply navigation and communication systems for a new RoRo vessel being built for a joint venture of French shipowner

Louis-Dreyfus Armateurs and

Norwegian shipowner Leif Hoegh.

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GENMAR Announces 1Q Results

General Maritime Corporation reports it had net income of $34.4 million for the first quarter 2003 compared to net income of $575,000 for the prior year period. Total vessel operating expenses, which are vessel operating expenses and general and administrative expenses, increased 8 percent to $17.8 million for the first quarter 2003 from $16.6 million for the prior year period. Total daily ves- sel operating expenses increased to $6,851 per vessel day during the first quarter of 2003 from $6,345 per vessel day during the prior year period.

MEP Expands and Relocates Facility

Marine Environmental Partners, Inc. (MEP), a Dania Beach, Fla.-based developer of ballast water and waste- water treatment systems, relocated and expanded its operational facilities to a 12.000 sq. ft facility at 3874 Fiscal

Court, West Palm Beach, effective May 1. 2003.

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Nera Gets Type Approval for F33

The Nera F33 maritime communica- tions terminal has received fully type approval from Inmarsat. The approval was given on May 9. 2003, and Nera

F33 is the first and only terminal to be approved for the Inmarsat Fleet F33 service concept.

The F33 system is mainly targeted at yachts, fishing and vessels operating within the Inmarsat spot beam areas.

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Organised in Association with Maritime London • Society of Maritime Industries (SMII • Shipbuilders EtShiprepairers Association |SSA) Supporting Organisations Admiralty Solicitors Group • Advisory

Committee on Protection of the Sea • The Association of Average Adjusters* The Baltic Exchange • The Chamber of Shipping • The Company of Watermen and Lightermen • CIRM (Comite International Radio-

Maritime) " Department of Trade and Industry • EMEC (European Marine Equipment Council) • Greek Shipping Co-operation Committee • Institute of Chartered Shipbrokets • Institute of Marine Engineering,

Science ft Technology (IMarEST) • International Association of Classification Societies limited • International Association of Ports ft Harbours IIAPHI • International Harbour Masters Association • International

Maritime Industries Forum (IMIFI • International Maritime Organisation (IMO) • International Ship Managers Association [ISMA) • International Ship Suppliers Association • London Maritime Arbitrators Association • London Ship Owners ft River Users Association • National Maritime Museum • Oil Companies International Marine Forum • F^ssenger Shipping Association • RINA • The Honourable Company of Master Mariners • The International Tanker Owners Pollution Federation Limited • The Nautical Institute • The Salvage Association • Trade Partners 1JK* BIMCO • Intercarqo • International Chamber of Shipping • International

Shipping Federation • Intertanko Principal Sponsors ExxonMobil Marine Fuels • Inmarsat • Lloyd's Register • Port of London • Royal Bank of Scotland • Shipbuilders ft Shiprepairets Association (SSA)

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