Wednesday, July 5,
The Straits Times says that Keppel Hitachi has confirmed that it is still in talks with Lisnave's operators, despite a change in the Portuguese yard's majority shareholders.
Reportedly, Grupo Jose de Mello, a holding company for one of Portugal's richest families, has agreed to sell its 69% stake in the yard to two board members --Jose Mendes Rodrigues and Nelson Nunes Rodrigues-- for US$1. The $1 sale came after failure to reach a labor agreement that would have ended rigid work rules.
Keppel has been talking to Lisnave since May. Contacted by the Straits Times yesterday a Keppel spokeperson said: "We are going to continue our discussions with the two new majority shareholders.''
Lisnave was reported to have lost 28.1 million euros (about $27 million) last year after posting a profit in 1998.
The shipyard's survival depends on a network
of alliances with international partners and on the reorganization
of the labour force, the Straits Times quotes Grupo Mello head
Jose Manuel de Mello as saying. Lisnave already has an agreement
with Germany's ThyssenKrupp, holders of a 12%stake that will
be raised to 19%
Halliburton and Petrobras in $2.5 billion
The Barracuda and Caratinga Fields are located in the Campos Basin, offshore Brazil, in water depths varying between 600 and 1,350 meters.
The principal agreement is a lump-sum engineering, procurement and construction (EPC) contract between BRES and the Barracuda & Caratinga Leasing Company B.V. (BCLCO). BCLCO is a special purpose company established by Japanese trading companies Itochu and Mitsubishi in connection with the project finance structure negotiated by Petrobras for the development of the two fields. Petrobras is the concessionaire of the fields. Work will commence in July 2000.
Each of the FPSOs will have a storage capacity
of 2 million barrels and a production capacity of 150,000 barrels
of oil per day. Work representing more than 40 percent of the
value of the FPSOs will be performed in Brazil, including one
of the ships' hull conversions.
DD21 class to be named after Zumwalt
Entering the fleet at the end of this decade, USS Zumwalt will usher in the Navy's newest class of destroyers. These revolutionary warships are being designed to meet post-Cold War requirements using 21st century naval warfare concepts. The Zumwalt class will incorporate several advanced technologies and introduce a number of design features to improve the DD 21 sailor's quality of life.
Armed with an array of land attack weapons,
USS Zumwalt will be capable of delivering an unprecedented level
of offensive firepower from the sea. It will also be the first
U.S. Navy ship to be powered and propelled by a fully integrated
power system, including modern electric drive. The cruiser-sized
Zumwalt will be manned by a crew approaching 100 and will feature
new habitability standards and shipboard amenities, including
staterooms for the entire ship's company.
Shades of Chicken Run