Page 10: of Maritime Reporter Magazine (August 2004)

News $8.5m in (he third quarter of 2004 from the sale. It also expects depreciation expense to fall by approximately $3.3m per quarter through 2005 and $2.5m per quarter thereafter. Peter C.

Georgiopoulos, Chairman, CEO and

President, said, "These sales are part of

General Maritime's program to modern- ize its fleet. With the sale of these four vessels, we have increased the percent- age of double-hull or double-sided ves- sels in our fleet to 89% while improving the fleet's age profile from 10.3 years to 9.8 years as of July 1, 2004."

Dredge Vssel Exception

Interpreted

The U.S. Court of Appeals for the

Federal Circuit ruled that a U.S.-docu- mented non-hopper dredge vessel char- tered by a company in which Stuyvesant

Dredging Company (SDC) has an inter- est may be used to perform work under a dredging contract with the U.S. Army

Corps of Engineers. In the instant case, a rival dredge company filed a bid protest after the contract was awarded to a company in which SDC has an owner- ship interest. The protestor asserted that the SDC statutory exception only applied with regard to non-hopper dredges in existence on the date the statutory exception was enacted and may only be utilized in support of hop- per dredges. The court held that the applicable statutory exception contained only three restrictions, all of which were met in this case: (1) the non-hopper dredge must be documented as a vessel of the United States; (2) the non-hopper dredge must be chartered to SDC or to an entity in which it has an ownership interest; and (3) the non-hopper dredge must be chartered to fulfill dredging obligations under a specific contract.

The appellate court remanded the case with instructions to enter summary judg- ment in favor of the SDC interests.

Norfolk Dredging Co., Inc. v. United

States, No. 04-5040 (Fed. Cir.) (HK

Law)

Rigdon Christens

M/V Bourbon

M/V Bourbon, the second in a series of 10 innovative Platform Supply Vessels (PSV) being build for Rigdon Marine by Bender

Shipbuilding, was recently christened. The 210 x 54 x 19-ft. diesel-electric PSV imme- diately deployed to a major oil company for work in the Gulf of Mexico. Like its sister ves- sel M/V Orleans, Bourbon is outfitted with a dynamic positioning class 2 (DP-2) certifica- tion and a modern, streamlined hull designed for fuel efficiency with top speeds of 13 knots fully loaded and 15 knots in light con- ditions. The cargo capacity of these vessels has also been increased due to the space saving diesel electric engine room which hosts two l,825kw (2,500 hp) generators driven by Cummins QSK 60 engines and a third 910kw (1,200 hp) generator driven by a Cummins KTA 38 engine. Furthermore, the fuel burn of this system has been rated at 230 gallons-per-hour (gph) at 13 knots when fully loaded, and only 88 gph at 10 knots.

The diesel electric system provides a signifi- cant fuel savings often exceeding 10 per- cent verses conventional direct-drive, diesel propelled vessels.

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Maritime Reporter & Engineering News

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