Danyard To Cut Workforce
Due to decreasing workloads and a need to
make production more efficient, Danyard
Shipbuilding has announced plans to fire 235
employees. Work on three chemical tankers for
the Stolt group is nearing completion, and thus is
demanding less labor. Parent company
Lauritzen cites Danyard as a main reason for the
group's 1996 loss of 259 million crowns, along
with currency losses and weak productivity. Last
April, Lauritzen contracted to sell 48 percent of
the yard to Malaysia's Penang Shipbuilding and
Construction (PSC) for $100 million, but has so
far received only a $1 million deposit.
Southwest Marine Wins $26M Contract
The U.S. Navy's Military Sealift Command
(MSC) has awarded Southwest Marine, Inc.
(SWM) a $26 million, cost-plus-award-fee con-
tract for the repair, overhaul, dry-docking and
upgrade of the U.S. Navy ammunition ship
USNS KISKA (T-AE 35). With options, the total
value of the contract could exceed $30 million.
The work is scheduled to begin December 1, 1997
and will be completed on October 26, 1998.
Between 300 and 400 workers per day are
assigned to the job. "Winning this contract is a
real tribute to our employees and a much-
deserved reward for the great work they do every
day," commented Ed Ewing, SWM's president
and COO. While at SWM, the habitability spaces
currently configured to U.S. Navy standards will
be re-outfitted to meet the requirements of MSC's
civilian crew.
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Recent Ship Sales
This report, compiled by Shipping Intelligence, Inc., a New York maritime consulting firm, tracks sale prices of secondhand bull!
carriers and tankers. For more information, call tel: (212) 997-0966.
Date Vessel Vessel DWT Year Sale Price
Reported Name Type Built (M)
7/25/97 Capo Mele Secondo Bulker 16,324 78 $3
7/25/97 Aditya Usho Bulker 18,720 81 $4
7/25/97 Trade Wealth Bulker 24,900 83 $7.8
7/4/97 Hua Peng Bulker 34,698 83 $7.8
7/18/97 Prosperus Bulker 35,676 83 $8.7
7/11/97 Iowa Trader Bulker 37,061 82 $4.5
7/11/97 Ponderosa Bulker 38,862 75 $4.3
7/18/97 Sibenik Bulker 48,320 89 $16.8
7/25/97 Li Xin Bulker 54,540 80 $3.1
7/25/97 Big Angel Bulker 61,059 75 $3.7
7/18/97 Nol Canopus Bulker 64,711 83 $8.3
7/25/97 Pernas Arang Bulker 64,871 82 $8
7/25/97 Bacesti Bulker 65,456 85 $7.5
7/11/97 Alessandra D'amato Bulker 69,171 84 $12.5
7/25/97 Cielo Esta Bulker 70,227 88 $17.4
7/18/97 Iron Master Bulker 127,774 82 $12.1
7/11/97 Thalassini Avra Bulker 129,237 81 $12.4
7/18/97 Tai Shan Bulker 149,516 90 $26.7
7/25/97 China Transport Bulker 151,688 95 $36.7
7/25/97 Excel Tanker 38,565 81 $13.5
7/4/97 Plate Princess Tanker 57,372 79 $6.2
7/4/97 Ace Trader Tanker 60,961 87 $21.6
7/25/97 Protank Orinoco Tanker 69,128 80 $13.5
7/18/97 Bt Stream Tanker 88,728 80 $13.5
7/25/97 Artois Tanker 102,262 92 $36
7/18/97 Nausicaa Tanker 135,973 89 $35
Index Fleet Valuation
250
240
230
180 eg
Current Market
Value ($M): .. .$237.3
1 Month Ago: . .$234.6
6 Months Ago:. .$229.4
1 Year Ago1 $244.5
The Index Fleet Valuation is representative of the resale market for Bulk Carriers and Tankers as a whole. The Index Fleet
consists of 15 vessels, nine Bulk Carriers and six Tankers, of various sizes and ages. Fluctuations in the value of the world
fleet are mirrored in the Index Fleet. This report, compiled by Shipping Intelligence, Inc., a New York maritime consulting firm,
tracks sale prices of secondhand bulk carriers and tankers. For more information, call tel: (212) 997-0966.
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Maritime Reporter/Engineering News
Digital Wave Publishing