Page 49: of Maritime Reporter Magazine (March 2006)

March 2006 49

Smit Intl. Earnings Up 40%

Smit International NV announced that net earnings for 2005 have risen by near- ly 40 percent to $45.9 million. Despite facing a heavier tax burden of 30% (up from 24% in 2004), the divisions Harbor

Towage, Terminals and Transport &

Heavy Lift achieved better results in comparison to 2004.

SMIT has served the maritime sector for more than 160 years, and its services are organized into four Divisions: • Harbor Towage: harbor towage serv- ices and related maritime services. Terminals: towage services and relat- ed maritime and management services to offshore and onshore terminals. Salvage: salvage, wreck removal, environmental protection and consultan- cy. Transport & Heavy Lift: barge rental & transport, ocean, coastal and river towage, heavy lifting and marine sup- port to a variety of civil and offshore projects.

Aker Kvaerner Sells

Subsidiary to Wärtsilä

Aker Kvaerner sold the Stord based subsidiary Aker Kvaerner Power and

Automation Systems (AKPAS) to

Wãrtsilä for $16.2 million. This includes approximately $2.2 million in net cash holdings. AKPAS — which is a two- year old company with 135 employees — supplies power and automation sys- tems to the marine market, the oil and gas market and segments of the industri- al market. With the newly developed, compact and modern frequency trans- formers as an important part of their range of products, the earlier division of

Aker Kvaerner Elektro was established as a separate company from January 1, 2004. During the two years that have passed, the products from Aker

Kvaerner Power and Automation

Systems have been well received by clients both in the marine market and in the oil and gas market. "AKPAS is a success story with respect to the Aker

Kvaerner organization's capabilities for industrial development. We have found that the best way to continue this remarkable development is to find a per- manent home for this business, where this range of products and technologies will be part of the core business" said

Torleif Gram, Executive Vice President of Aker Kvaerner's Business Area for

Maintenance, Modifications and

Operations.

LR to Class First Common

Rules Tanker

The world's first tankers to be speci- fied with the Common Structural Rules (CSR) for tankers of 150 m and above has been ordered to Lloyd's Register class at New Times Shipbuilding Co.,

Ltd., in China for a large Cyprus-based owner. The order is for four Aframax tankers of 114,000-dwt. It is anticipated that the keel of the first ship will be laid in July 2007, with delivery in July 2008.

The IACS CSR for tankers were pub- lished on January 15, 2006 and come into force on April 1, 2006. The new

Rules are the result of a four-year-long joint research and development project between Lloyd's Register, ABS and

DNV, with the Rules having been unan- imously adopted by IACS Council on

December 14, 2005.

Circle 259 on Reader Service Card

Uncompromised Control

WaterJet Bow/Stern

Thrusters 75-2200 HP

JT575AM

HT600

Low Submergence

Requirement

Small Hull Penetrations

Auxiliary Propulsion/ “Take Home” Capability

Effective Thrust In Currents

Proudly Made

In The USA!

Circle 252 on Reader Service Card

People & Companies

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