Friday, July 14, 2000

CVN 77 will do Windows

Lockheed Martin Naval Electronics & Surveillance Systems has announced that Microsoft Federal Systems is joining the Integrated Warfare Systems (IWS) Team supporting the design and development of the nuclear-powered aircraft carrier CVN 77.

Newport News Shipbuilding (NNS) is the prime contractor for the CVN 77, the transition ship to the Navy's future CVNX class of aircraft carriers, and has responsibility for the entire ship and associated systems. Lockheed Martin NE&SS-Surface Systems is the Warfare Systems Integrator for NNS.

The IWS role include improving interoperability among sensors, advanced communications systems, high-performance ship network connectivity, aircraft control systems, and other electronics on the ship. As part of the warfare systems integration effort, Microsoft Federal Systems will lead the information infrastructure development activity and define the architecture for high-performance information exchange for CVN 77.

Microsoft Federal Systems, based in Washington, D.C., will help design the ship's information technology architecture based on the company's Windows 2000 platform. The commercial off-the-shelf (COTS) software solution includes a three-year commitment by Microsoft Consulting Services for technical support during the ship's software design, development and deployment.

CVN 77 is the first step in the Navy's three-ship evolutionary strategy for developing the next class of aircraft carriers. The Integrated Warfare System will be the first building block to this next class. The CVN 77 IWS will comprise an open architecture, COTS-based system that will increase operational capability, be more readily supportable, and will facilitate affordable upgrades over its 50 year service life.

Q: Who is one of Newport News Shipbuilding's top two shareholders?

A: Click here


Royal Nedlloyd disposes of heavy lift unit
Royal Nedlloyd has transferred the shares of its subsidiary Mammoet Transport B.V. to Van Seumeren Holland B.V. in a deal that also includes the Italian company Decafin SpA's 33% interest in the Mammoet Decalift International joint venture.

Total proceeds from the sale amount to EUR 111 mln, of which Nedlloyd will realize approximately EUR 80 mln. The transaction will be effectuated retroactively from 1 January 2000. Nedlloyd will realize a book profit, which will be recorded in the third quarter 2000 results.

The new company will trade under the Mammoet name and logo and will be headed by Frans van Seumeren (CEO) and Frits van Riet (COO). With annualized turnover of some EUR 300 mln and activities in, amongst others, Europe, the United States, the Middle East and East Asia, the new Mammoet will be one of world's leading players in its industry.

Greenpeace activists delay lumber carrier
Activists from Greenpeace yesterday prevented the cargo vessel Ranger I from unloading a timber cargo in the northern Spanish port of Vilagarcia de Arosa. Four of them climbed the ship's mast and two chained themselves to the anchor chain.

According to Greenpeace, the ship is carrying 6,000 tons of African rainforest timber. The environmentalist organization says that a quantity of this lumber comes from the sawmill of the Lebanese logging company Société Forestière Hazim (SFH), one of the largest logging companies in Cameroon. Timber from SFH is currently being imported into several European countries including U.K., France, Netherlands and Belgium.

Greenpeace is carrying out a campaign against what it maintains is "illegal and destructive" timber logged from the African rainforest. At the time of the action against Ranger I, Greenpeace activisits had occupied the cargo ship Aegis in the Portuguese port of Leixoes for more than 60 hours.

Kværner finds buyer for Kimek
Kværner, has signed a preliminary agreement for the sale of its Kimek shipyard in Kirkenes, Norway, to a Norwegian investor group comprising DOF Industri AS, Skarveland a.s, and Kirkenes Servicehavn a.s. It says that "the consideration for the sale is nominal."

The Kimek shipyard specializes in ship repairs and maintenance for markets in Norway and Russia.

The transaction will result in an accounting loss for Kvaerner, but within the scope of the provision made in 1999.

Mosvold places another VLCC order with Samsung
Norway's Mosvold Shipping and Korea's Samsung have agreed the terms of a shipbuilding contract for the building of a 308,000 dwt VLCC for delivery in August 2002, with an option for a second vessel for delivery in 2003. The price for the first vessel is $72.5 million, the price for the option vessel is $74.1 million.

A Norwegian limited partnership, presently owned 100% by Mosvold is the owner of the contract and the option. Mosvold may later reduce its ownership in the partnership.

A similar shipbuilding contract was agreed at the end of May. A Norwegian limited partnership, in which Mosvold holds a 52.8% stake, was nominated as the owner of this contract and the option.

Mosvold thus now has two vessels on order at Samsung, with deliveries in November 2001 and August 2002, plus options for two sister vessels at a fixed price of $74.1 million each. The options must be taken before the end of November 2000. If the options are declared, the deliveries will follow during 2003.

Global Marine reports second quarter results
Global Marine Inc. today reported net income of $28.1 million, or $0.16 per diluted share, on revenues of $231 million for the quarter ended June 30, 2000. For the corresponding quarter of 1999, the company reported net income of $28.2 million, or $0.16 per diluted share, on revenues of $196 million.

For the six months ended June 30, 2000, the company reported net income of $40.7 million, or $0.23 per diluted share, on revenues of $435 million. This compares to net income of $65.0 million, or $0.37 per diluted share, on revenues of $424 million for the six months ended June 30, 1999.

Bob Rose, Global Marine chairman, president and CEO, commented, "During the second quarter of 2000, world oil prices remained high despite increasing OPEC production, and U.S. natural gas prices were exceptionally strong as well. The combination of high commodity prices and expectations for growing worldwide energy demand is yielding increased capital spending by our E & P customers and continued momentum for the offshore drilling recovery that began in the latter half of 1999.''

While the market for second and third generation semisubmersible offshore drilling rigs remains weak, key markets for jackup rigs continued to improve during the second quarter, particularly in the U.S. Gulf of Mexico. "For example,'' Rose said, "spot dayrates for premium jackups in the Gulf of Mexico have increased about three-fold from a year ago. The jackup market in West Africa has also begun to tighten, and in August we expect to reactivate one of our two remaining idle rigs there.''

Houston-based Global Marine is one of the largest offshore drilling contractors with an active fleet of 32 mobile rigs worldwide plus a new ultra-deepwater drillship under construction. In addition, the company is the world's largest provider of offshore drilling management services, employing approximately 8 to 12 additional rigs.


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