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POSTINGS FOR NOVEMBER, 2000

NOVEMBER

Commission opposes extension of subsidies to EC yards
The European Commission today stated that it opposes a prolongation of operating aid for shipbuilding, which will expire on December 31, 2000. However, it appeared to suggest that it could be necessary to reintroduce some form of subsidization next year as a "temporary defensive mechanism" against South Korean practices.

Litton to collaborate on superconductors for ship propulsion
Litton Ship Systems and American Superconductor Corporation today announced an agreement to collaborate in the utilization of High Temperature Superconductor (HTS) technology for commercial and naval ships.

Flying Dolphin VP in apparent suicide
The BBC is reporting that Pantelis Sfinias, a Vice President of Minoan Flying Dolphins, owner of the Express Samena, has died after jumping from the sixth floor of his office building.

OSG takes over two VLCC newbuilding contracts
Overseas Shipholding Group, Inc. (OSG) confirmed yesterday that contracts have now been signed whereby it has acquired from American Eagle Tankers, Inc. (AET) the contract rights to two 318,000 dwt VLCC newbuildings.

Bergesen declares option for second LNG carrier
Bergesen has declared its option at Daewoo for a second LNG-carrier of 138.000 cbm

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Kværner concludes cruise ship financing
Kvaerner has concluded a $590 million financing arrangement with Scotia Capital and Skandinaviska Enskilda Banken for the construction of cruise ships at its Masa-Yards in Finland.

Navy places follow-on superconducting motor contract
American Superconductor Corporation, Westborough, Mass., has received a follow-on contract for $1.6 Million from the U.S. Navy’s Office of Naval Research (ONR) for the design and development of high temperature superconducting (HTS) motors for electric ship propulsion.

Keppel Shipyard clinches jumboization contract
Keppel Shipyardhas secured a S$7 (about US$4 million) million contract from Smedvig Asia for the jumboization and upgrading of its Drilling Tender Barge, Robray T7.

Bureau Veritas tanker safety initiative
Bureau Veritas says new class rules will incorporate all tanker safety initiatives currently under discussion in the IMO and EU.

Bergesen offers Tractebel LNG ship partnership
Bergesen has now concluded a minimum 20 year charter contract with Cabot LNG, a subsidiary of Tractebel S.A. of Belgium, for the 138,000 cbm LNG vessel it has under construction at Daewoo f

Seacor Smit boosts fleet
Seacor Smit Inc.says it has signed letters of intent to acquire two platform supply vessels and six mini-supply vessels.

Maritrans shelves shuttle plans
Maritrans Inc. chairman and CEO Stephen A. Van Dyck has announced that the company has withdrawn from talks to develop technology for crude oil shuttling with Conoco Shipping Inc.

Marinette wins $84.5 million buoy tender contract
The Manitowoc Company, Inc. said yesterday that it had finalized its agreement to purchase Marinette Marine Corporation. At the same time, Manitowoc announced that Marinette had secured a contract worth $84.5 million from the U.S. Coast Guard

J. Ray McDermott picked for BP topsides fabrication
J. Ray McDermott, S.A., a subsidiary of McDermott International, Inc. , has signed a letter of intent to fabricate the topsides for four major BP deepwater projects in the Gulf of Mexico.

Conversion of CSO Constructor starts
Britain's Cammell Laird Tyneside has started conversion of Coflexip Stena Offshore's vessel the CSO Constructor.

Gulfmark in seven vessel newbuild program
GulfMark Offshore Inc., Houston, has signed a series of contracts with Aker Brattvaag of Norway to build four new supply vessels (PSVs) and three anchor handling tug supply vessels (AHTSs)

Hvide buys "hotshot boats"
Hvide Marine Inc.last week announced an agreement to purchase two modern 152-foot crewboats from Crewboats, Inc

Second coastal cruise ship named
Just five months after the shipyard launch of Delta Queen Coastal Voyages’ first vessel, the second ship in the new fleet was last week christened at Atlantic Marine, Inc

Hvide turnaround continues
Hvide Marine Inc. today reported a net loss of $3.1 million or $0.31 per diluted share for the quarter ended September 30, 2000, versus a net loss of $20.1 million or $1.29 per diluted share for the year-earlier period.

FGH still reporting losses, but "now at optimum size"
Announcing third-quarter 2000 results for the period ending September 30, 2000, Friede Goldman Halter, Inc. reported a net loss of $9.4 million

Norwegian backing for Gulf unionization push

New CEO for Stolt-Nielsen

More Indonesian pirates

Major orders for Daewoo

New president for Masa-Yards

Sleipner commission reports

Ingalls to repair Cole

ACL operating revenues up

U.S.operator buys AHTS's from Jaya

NYK goes to Chantiers for newbuilding for Crystal

SembCorp Engineering clinches contracts
worth $115 million

Ievoli Sun sinking increases pressures for unilateral EU maritime action