August 2006 7
revamp production facilities. It will also
boost productivity of TMCP steel,
which provides high strength and welds
without heat treatment. (Source:
http://times.hankooki.com)
Intrepid to Close for
Repairs, Renovation
The aircraft carrier Intrepid, the mili-
tary museum that has been docked on
the Hudson River for 24 years, is sched-
uled to close on Oct. 1 and will be
moved to New Jersey for repairs and
Staten Island for renovation. The New
York Times reported that about a month
after the museum closes, the carrier
would be towed away from its mooring
at Pier 86 and is not expected to return
for 18 months. The museum's directors
approved the general plan after Mayor
Michael R. Bloomberg and the City
Council agreed to provide a total of
$17m over the next two years for the
overhaul of the carrier and the pier. Gov.
George E. Pataki pledged an additional
$5m in state economic development
funds. In addition, $35.5m in federal
funds would raise the public financing
for the project to $57.5m, which should
cover all the costs. (Source: The New
York Times)
Kristen Orders Tankers
From Hyundai Heavy
Kristen Navigation Inc. ordered three
oil tankers from South Korea's Hyundai
Heavy Industries Co. for about $234m,
Bloomberg reported. The three ships
will each have a capacity of 159,000
deadweight metric tons and are due to
be delivered in 2009. (Source:
Bloomberg)
GE Shipping to Acquire
Two New Tankers
Great Eastern Shipping Company Ltd.
has ordered two new building Long
Range One (LR1) Product tankers from
STX Shipbuilding Company of Korea.
The 74,500-dwt vessels are due for
delivery during the third quarter of
2008-09. With this order, the company's
new building orderbook stands at nine
tankers (four LR1 product tankers and
five MR product tankers) with an aggre-
gate dwt of 0.52 million and five OSVs
(four AHTSVs and one PSV). The exist-
ing fleet of 74 vessels of the company
includes 40 ships with an average age of
12.7 years and 34 offshore units and the
order book comprises 12 vessels - seven
tankers and five offshore supply vessels
(OSVs). (Source: http://www.domain-
b.com)
Spirit III Sale Reaps
$27M
TT-Line reportedly sold the Spirit III
for up to $20m more than it paid for the
ship in 2003. But with cost of modifica-
tion work done to make the ship suitable
for Bass Strait, the TT-Line will proba-
bly only keep about $3.7m from the
sale, The Mercury News reported. It
also has to pay its shipbroker more than
$752,500 in commission. Mediterranean
operator Corsica Ferries would pay
$82.5m for the ship TT-Line bought for
$62.2m. The identity of the buyer and
the sale price had been kept confidential
since a memorandum of understanding
was signed. (Source: http://www.the-
mercury.news.com.au)
β TO FIND THE FINEST
OCEANGOING VESSELS,
SOMETIMES ITβ S BEST
TO HEAD UPSTREAM.β
- Duff Hughes, President, The Vane Brothers Company
Jeffboat, strategically located on the Ohio River in Jeffersonville, Indiana, has been designing
and constructing vessels for 67 years. Over 10,000 vessels to be exact, all created with heavier
welds, wheelabrated steel and superior coatings. At Jeffboat, not only do you get a
technologically advanced oceangoing vessel at reasonable labor cost, you also get a dedicated
project team. So when you look to build an oceangoing vessel, just look to the Ohio.
Online @ www.marinelink.com
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