2001 Maritime

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October 2, 2001

52 m FBM Babcock Marine Tricat

Tricat enters service in Korea
The mv Hankyoreh, the latest 52 m FBM Babcock Marine Tricat, has entered service in Korea with Dae A Express. The vessel is providing a unique double service: a regular passenger service operation from Mukho City to the beautiful tourist area of Ollongdo Island over 110 miles off the east coast of South Korea, plus an additional weekly service from Sokcho, a port north of Mukho City in South Korea, to the North Korean Kepco power station, built and operated by Korea Energy and Power Station Corporation.

Built in the Philippines at the Cebu yard of FBMA Babcock Marine, the mv Hankyoreh, which carries 449 passengers, has become the first vessel built to the High Speed Craft Code to operate in Korea.

At full passenger and baggage capacity a maximum speed of over 41 knots is delivered by four diesel engines to waterjets. To ensure maximum passenger comfort, two inverted T-foils are fitted forward, whilst hydraulically powered steering fins are fitted aft.

The fitting of the aft steering fins is a first for an FBM designed vessel, with trials demonstrating their ability to allow maximum vessel speed to be maintained at all times without compromising track keeping and steering ability is not compromised. By fixing the direction of the waterjets, maximum thrust is achieved in the direction of travel, leaving course corrections to be made by small attitude changes to the fins. These proprietary fins are now available for fitting across the FBM vessel range.

Doug Border, general manager of FBMA, said: “This is another beautiful vessel from the Tricat family and its arrival in Korea certainly turned heads among the local population. The vessel's classic lines, along with her operational capability, have fully satisfied the operator's stringent requirements for ride quality and speed over a long route.”

Andrew Bailey, design manager at FBM Babcock Marine added: “The vessel represented a unique opportunity to further enhance the performance of the TriCat design by utilising state of the art research undertaken since FBM’s acquisition by the Babcock International Group. The on-time delivery also demonstrates the seamless link between our design facilities in Southampton and the build yard in the Philippines”

Kent Line sells container business to Tropical
Kent Line International has agreed to sell the assets of the container portion of its business to Tropical Shipping, Riviera Beach, Fla.

Tropical, a subsidiary of Nicor, Inc., provides refrigerated and dry container service to and from the Caribbean and Bahamas. 

Kent Line Container Division, part of the holdings of the Irving family of New Brunswick, Canada, has operated since the early 1990’s and presently provides weekly container service from Canada to the Caribbean and northern coast of South America. 

Effective Monday, October 22nd, 2001 Tropical will take over this weekly service, offering Canadian customers an expanded all water service from Atlantic Canada to an expanded network of Caribbean destinations.

"Tropical has more than a 25 year history of handling Canadian exports to the Bahamas and Caribbean region and nearly an 18 year history of operating its own Canadian offices,” said Rick Murrell, Tropical Shipping’s president and chief executive officer.  “Our acquisition of the Kent Line Container Division will expand the number of Caribbean ports connected by an all water service from Canada and this will benefit both the Canadian exporter as well as the Caribbean importers.”

CP Ships gets NYSE listing
CP Ships, one of the world’s top ten container shipping companies, is to be listed on the Toronto Stock Exchange and the New York Stock Exchange under the symbol TEU on October 3, 2001, following Canadian Pacific’s reorganization, which was completed on October 1, 2001.

CP Ships is to be included in the S&P/TSE 60 Index of the top Canadian publicly listed companies. It will also be included in the TSE 300 and the S&P Global 1200.

CP Ships provides international transportation services in four key regional markets: TransAtlantic, Australasia, Latin America and Asia. Within these markets CP Ships operates in 24 trade lanes, most of which are served by two or more of its six brand names: ANZDL, Canada Maritime, Cast, Contship Containerlines, Lykes Lines and TMM Lines. The combined fleet of more than 80 ships carries nearly 2 million TEU per year.

Since 1996, CP Ships' revenue has grown at a compound annual rate of 36% while profits have doubled.