Tuesday, September 12, 2000
FGH gets $52 million in new orders
Friede Goldman Halter, Inc. has signed nine contracts with a combined value of more than $52 million, excluding options.
- Halter Marine, Inc. has signed a contract with Foss Maritime of Seattle, Washington, for construction of a 98-foot harbor tug, with options to build two additional vessels. The 6,000-hp Z-drive tugs are of a new design jointly developed by Foss and Halter and will be used on the West Coast. They will be built at Halter Lockport in Louisiana with delivery of the first slated for second quarter 2001.
- Halter Marine, Inc., has signed a contract with an undisclosed foreign operator for construction of two high-speed passenger ferries, with options for two additional vessels. The customer has funded engineering, which is currently underway, and construction is scheduled to begin in December 2000 at Halter's Gulfport, Miss.shipyard. Delivery of the first of these 50-knot, 263-passenger vessels is expected in the 4th quarter 0f 2001, with the second vessel to be delivered in the 1st quarter of 2002. The contract is subject to U.S. Export Import Bank's finance guarantee approval.
- Halter Marine, Inc., has signed a contract with Sea Coast Towing, Inc., of Seattle, Washington, for construction of an 80,000-barrel oceangoing double-hull tank barge, with an option for one additional vessel. The barges will be built at Halter's shipyard in Gulfport, Mississippi, with delivery of the first barge scheduled for the 3rd quarter of 2001.
- Halter Marine, Inc., has signed a contract with Trinity Yachts, Inc., of New Orleans, Louisiana, for construction of the hull of a 192-foot expeditionary yacht. It will be built at Halter's Lockport, La., yard Delivery is scheduled for the 4th quarter of 2001.
- Halter Marine, Inc., has signed a contract with Trinity Marine Products, Inc., of Dallas, Texas, for construction of four 195-foot deck barges. They will be built at Halter's Gulfport, Miss., yard. Delivery of the four barges is scheduled to be completed in 4th quarter 2000.
- Friede Goldman Offshore has signed a contract with a subsidiary of Noble Drilling Corporation, of Houston, Texas, for miscellaneous refurbishment and enhancement to the jackup drilling rig Noble Charles Copeland. This work is being undertaken at FGO's West shipyard in Pascagoula, Mississippi. Friede Goldman Offshore has also signed a contract with a client for modifications and repairs to a semi-submersible drill rig.
- AmClyde Engineered Products has reported that SAIBOS, for whom it is manufacturing a J-Lay tower and associated equipment, has executed outstanding contract options for additional equipment.
- AmClyde's Aftermarket Group has received an order from the Electric Boat Corporation (a General Dynamics Company) for new gantry crane travel trucks.
"These contracts illustrate the diversity of the Friede Goldman Halter portfolio of products,'' said President and CEO rJohn F. Alford, . ``We had always anticipated that the vessel business would recover before the offshore business. In addition, several of these contracts include options for additional vessels. Halter has had great success in the past in the exercise of contract options and we believe that this is an excellent measure of the quality of our products and the strength of our customer relationships."
"We are greatly encouraged by our recent efforts in the offshore energy markets," Alford continued, "and believe that continued strength in commodity prices will soon result in additional projects."
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