Tuesday, April 4,
2000
GATX and IMC
in chemical tanker
joint venture
IMC Holdings Ltd. and GATX Capital Corporation have formed a
50-50 joint venture to own a fleet of chemical tankers. The joint
venture has executed agreements to build and purchase four 45,000
dwt IMO II chemical tankers for delivery in 2001 and 2002. The
vessels will be managed by an IMC subsidiary.
IMC Holdings, chaired by Frank Tsao Wen-king,
was first listed on the Hong Kong Stock Exchange in 1972 under
the name of International Maritime Carries (Holdings) Ltd. as
the holding company for a number of shipowning subsidiaries incorporated
overseas. Since then the group has reorganized. IMC Holdings
Ltd., the holding company, is a Bermuda company and the group
is listed on the Hong Kong and Singapore exchange.Its principal
activities are owning and operating ships, shipyards, terminals
and warehouses and providing logistics management services. A
major owner and operator of dry bulk and liquid bulk vessels,
IMC operates its own and third party vessels in several shipping
pools based in Asia.
GATX Capital Corporation is a diversified
global financial service company that provides financing for
transportation, industrial and information technology assets.
GATX Capital is a subsidiary of Chicago- based GATX Corporation.
Jesse Crews, president and CEO of GATX Capital said, "We
are pleased to announce this joint venture with IMC Holdings.
This partnership demonstrates our continued commitment to international
markets and to working with partners to deliver comprehensive
services to our customers."
GATX Capital and IMC Holdings say they
"intend to explore other areas of cooperation based on their
common vision to provide total integrated solutions for the supply
chain needs of their chemical industry customers."
New orders for Friede
Goldman Halter
Friede Goldman Halter, Inc. has recently finalized six new contracts
with a total value of approximately $40 million.
The contracts are with :
The Venezuelan government for the
construction of two 153-footLCU-type logistics support vessels.
Financing for the project has been secured through the Export-Import
Bank and all guarantees have been obtained. Construction for
the vessels is anticipated to begin during the second quarter
at the Moss Point Marine shipyard in Escatawpa, MS and delivery
is slated for the fourth quarter of 2001.
Atwood Oceanics
for the design and construction of a deepwater mooring system.
The 8-point combination traction-winch/windlass mooring system
will be installed on the Atwood Eagle, a semisubmersible drilling
rig capable of operating in water depths up to 5,000 feet. The
project will be designed by the FGH Engineered Products Group's
AmClyde division and manufactured at the group's BLM Offshore
facility in Nantes, France. Delivery is scheduled for January
2001.
Transocean Sedco Forex for winterization of SEDCO 714 semisubmersible
drilling unit. The work will be performed at Friede Goldman Newfoundland's
Cow Head Offshore fabrication facility in Newfoundland, Canada.
The initial scope of work is expected to be completed by the
end of the second quarter.
Atwood Oceanics
for the fabrication and installation of equipment to enhance
seafloor sliding characteristics for the Atwood Richmond submersible
drilling unit. Work has begun at Friede Goldman Offshore Texas'
Dockyard facility and is expected to be completed by the end
of the second quarter of 2000.
Subsidiaries of Harrah's Entertainment,
Inc. for the construction of two casino barges. Fabrication
of blockmodules will take place at the Halter Gulfport facility
with final assembly at the company's Port Bienville shipyard.
Completion is scheduled for second quarter of 2000.
Thoma-Sea Boat Builders for the construction of a 150' x 50' tugboat hull
and superstructure. The project will be executed
at the company's Lockport, LA yard and is scheduled for completion
in the fourth quarter of 2000.
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