Maritime Reporter, July 1994

<BODY> <div> Tri-Star Marine Delivers Tractor Tug To Coos Bay Tri-Star Marine of Seattle has delivered a 4,000 hp tractor tug, Tioga, to Coos Bay Towboat Co. of Oregon. The new 85-ft. (26-m), ice- strengthened boat was designed and built by Tri-Star, with engineering services provided by Jensen Mari- time Consultants. The Tioga is the first vessel built by Tri-Star for Coos Bay Towboat, and the first new-built vessel to enter service in the operator's fleet since 1974. Tioga has a pair of Caterpillar 3516 diesels providing 4,000 hp that give the tug an estimated bollard pull rating of 106,000 pounds. The engines drive two Ulstein 1650H Z- Drive units with 87-inch bronze propellers, giving the Tioga a speed in excess of 13 knots. Auxiliary power for the Tioga comes from two Caterpillar 3306 diesels with 60 kW generators. On deck, the new tug is equipped with a McElroy bow winch. Electronics include two Furuno 1931 36-mile radars with daylight display; a Furuno FCV-665 depth sounder; a Furuno GP-70MK2 global position- ing system; a Sperry MK-37 gyro- compass and AP-10 autopilot; a Ritchie magnetic compass; a Motorola Maxtrac 800 UHF and a Standard LH-10 intercom system. McDermott, Offshore Pipelines Merge Construction Businesses McDermott International, Inc. and Offshore Pipelines, Inc. (OPI) agreed to combine their worldwide marine construction businesses into i new jointly-owned company. The agreement specifies that a lew Panamanian Corp. will be cre- ited, J. Ray McDermott, S.A., into vhich McDermott International vill contribute substantially all of ts marine construction assets and >usinesses. Subject to shareholder ipproval, OPI will merge into this Lew company with OPI's sharehold- rs receiving 50 percent of the com- tion stock of the new company in xchange for its common stock out- tanding or subject to issuance un- er its outstanding preferred stock, ptions and warrants. McDermott International would lso receive securities to be issued y J. Ray McDermott with a com- ined face value of approximately 785 million as follows: July, 1994 - $400 million stated value, non- voting nine percent Cumulative Pre- ferred Stock; - $160 million stated value, vot- ing 4.5 percent Cumulative Con- vertible Preferred Stock, convert- ible into common stock after five years at a price equal to 120 percent of the average market price of OPI's common stock over the last 10 days prior to closing; - $225 million face amount of nine percent Senior Subordinated Notes due in 2001. The agreement also specifies that the initial Board of Directors of J. Ray McDermott will be comprised of nine directors, five appointed by McDermott International and four appointed by OPI. Bessemer Completes Sale Of Tidewater Stock Tidewater Inc. has been informed by Bessemer Capital Partners, L.P., that Bessemer sold its remaining shares of the company's common stock. Salomon Brothers Inc. ac- quired the Tidewater stock for re- sale and has now placed the shares with institutional investors. Bessemer had acquired approxi- mately 7.8 million shares as a result o fTidewater's acquisition by merger of Zapata Gulf Marine Corp. in Janu- ary 1992, and had previously sold approximately 3.8 million shares in a secondary offering in June 1993. Foss Adds 4,000 HP Tractor Tug To San Francisco Fleet Foss Maritime Company added the Andrew Foss to the Foss/ SeaRiver fleet in San Francisco. The Andrew Foss, a 4,000 hp cy- cloidal propulsion tractor tug with a certified ahead bollard pull of 133,404 lbs., was moved from the Puget Sound, where it has operated since 1982. The tug will supplant the 3,000 hpBrynn Foss, which will move to Puget Sound after operat- ing in the Bay Area for about a year. The Andrew is part of the Foss/ SeaRiver fleet which includes large, conventional tugs providing a range of harbor services, including tanker escorts in San Francisco Bay. Tidewater Appoints O'Malley To Succeed Laborde Tidewater Inc.'s board of direc- tors appointed William C. O'Malley as chairman, president and CEO to succeed John P. Laborde, who is retiring in the fall. Mr. Laborde has served as Tidewater's only chief executive since its inception in 1956. Mr. O'Malley, since 1988, has served as chairman and CEO of Sonat Off- shore Drilling Inc., headquartered in Houston. Mr. O'Malley will be appointed president and CEO of Tidewater on September 19, and will hold that office until Mr. Laborde's retire- ment becomes effective at the company's annual meeting in Octo- ber. Racal Acquires Techno Transfer Industries Racal Electronics has acquired an 80 percent majority shareholding in Singapore-based Techno Trans- fer Industries (TTI), specialists in the manufacture and operation of remotely operated submersible ve- hicles (ROVs), for $14 million in cash. The acquisition, which has been supported by the directors of Techno Transfer Industries, in- cludes the wholly-owned subsidiary Asiatic Underwater Contractors which provides ROV operation ser- vices to the offshore industry and to more than 50 percent of the drill rig-support market in South East Asia. Frank Vespa and Sam Sassoon will each retain a 10 per- cent shareholding in TTI and will continue as managing director and finance director, respectively. TTI becomes part of the Racal Energy Group, which includes Racal Sur- vey and Racal Positioning Systems, providers of survey and positioning services to the offshore oil and gas industries worldwide. David Elsbury, chief executive of the Racal Electronics Group, said, "The acquisition of Techno/Asiatic, with its modern fleet of 11 ROVs, provides us with a cost effective entry in a market which is cur- rently worth ($146 million) per annum and is expected to increase as the pace of offshore exploration and development quickens in the second half of the decade." Astilleros Espanoles In European Consortium To Build Electric Power Plant The consortium of Spanish com- panies in the INI/TENEO Group formed by Astilleros Espanoles, Auxini, Babcock Wilcox Espanola and Union Electrica de Canarias (Unelco), together with the Dutch firm Holec Projects BV, signed an $80 million export contract to con- struct an electric diesel power plant with two MAN B&W engines, each of 30 mW, to be erected in Kingston, Jamaica. Jamaica Private Power Corp. (JPPC) will operate the plant and sell energy to Jamaica Public Services (JPS), the island's electric company. During the two year construction period, Astilleros Espanoles, the con- sortium leader, will be in charge of the commercial management and organization, as well as building the two engines through its subsidiary Manises Diesel Engine Company. IDB Mobile Opens Operating Center In Maryland IDB Mobile Communications, Inc. opened its International Oper- ating Center at its new headquar- ters in West Bethesda, Md. The center provides Inmarsat operator services to customers around the globe. A staff of fully-trained IDB Mobile personnel serve customers 24 hours a day, 365 days a year, in bridging the language barriers brought on by placing international phone calls. Worldwide directory assistance, person to person, collect and credit card calls are also handled by operators. For more information on IDB Mobile, Circle 54 on Reader Service Card MARINE SEWAGE TREATMENT FROM THE MARKET LEADER 15 MX-TREATS BLACKWATER WASTE FOR A COMPLEMENT OF 500 PEOPLE (ONE OF 6 STANDARD SIZES AVAILABLE) OMNIPURE™ MSD SYSTEMS • COMPACT; SKID-MOUNTED • EXTREMELY LIGHTWEIGHT • PRE-WIRED/EASY TO INSTALL • ELECTROLYTIC DSA' PROCESS • NO CHEMICAL OR BIOLOGICAL ADDITIVES • NO SLUDGE REMOVAL OMNIPURE'S™space saving, fully automatic units treat sewage from 6 to over 500 persons allowing discharge practically anywhere in full USCG/IMO compliance. OMNIPURE'S™skid-mounted sys- tems are available in stand alone configurations or as process mod- ules to be retrofitted with existing tanks. Multiple units may be run in tan- dom for even larger passenger/crew complements. Custom systems are also available for space-sensitive retrofits. E1TECH ENVIRONMENTAL WATER SYSTEMS AND SERVICES ELTECH International Corporation A subsidiary of ELTECH Systems Corporation 1110 Industrial Blvd. Sugar Land, Texas 77478 Telephone: (713)240-6770 Fax: (713)240-6762 Sales and service centers located in most major parts of the world. Circle 225 on Reader Service Card 21 </div> <span id="lblContents"></span> <br /> <br /> <a href="http://www.digitalwavepublishing.com/" title="Digital Magazine">Digital Wave Publishing</a> </BODY>