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IMODCO Awarded Contract To Convert Egyptian Tanker IMODCO, a unit of AMCA Inter- national Corporation's Marine Divi- sion, has been selected by CONO- CO, Inc. of Houston, on behalf of Geisum Oil Company of Cairo, to provide engineering and construc- tion mangement services for the conversion of a VLCC into a floating production storage and offloading vessel. The dollar value of the proj- ect was not disclosed. The converted tanker will be moored permanently at the Geisum Field in the Gulf of Suez, Egypt. It will be designed to process, store, and transfer crude oil to shuttle tankers using a side-by-side offload- ing method. IMODCO, a pioneer in the devel- opment of offshore marine terminal systems, will be responsible for the design and engineering services for the modification and for the design of the vessel's mooring system. Al- terations will include a new heli- deck, foundations and utilities for a new production facility and me- tering station, conversion to a barge, extensive corrosion protection, and upgraded safety and fire-protection systems. IMODCO will assist with supervi- sion of the installation and tanker hook-up at the site, which is sched- uled for the last quarter of 1985. Engineering for the process system on the tanker will be performed by Paragon Engineering of Houston. American Management Gets $4-Million Award For Engineered Programs American Management Systems Inc. of Arlington, Va., has been awarded a $4,223,248 cost-plus- fixed-fee Navy contract modifica- tion for 74,152 man-hours of auxilia- ry ship and amphibious ship engi- neered operating cycle phased maintenance and other engineered operating cycle programs. Work will be performed in Arlington, and is expected to be completed in July 1986. Contract funds would not have expired at the end of the cur- rent fiscal year. The Naval Sea Sys- tems Command, Washington, D.C., is the contracting activity (N00024- 84-C-4049). Sea Wolf Class RO/RO-container- ships, one of which has been deliv- ered and two of which are under construction at Odense Steel Ship- yard in Denmark; • Assume Delta's interest at the time of delivery of a fourth contain- ership to be built foreign by Delta under Section 615 of the Merchant Marine Act of 1936; and • Assume Delta's operating differ- ential subsidy (ODS) agreements with the government, under which Delta has been providing subsidized service to Latin America, the Carib- bean, and West Africa. USL/SA (formerly Moore McCor- mack Lines) has been serving sepa- rate routes in the same general area under an ODS contract. It proposes now to serve a combined trade area as authorized by the Board. MarAd determined that the total purchase price of Delta's 11 owned vessels of $36.6 million and USL's assumption of outstanding Title XI debt on the vessels is fair and rea- sonable. The agency also approved the acquisition by USL from McLean Industries, Inc. and by Del- ta from USL of 366,000 shares of McLean preferred stock with a re- demption value of $100 per share. Ships in the present Delta fleet involved in the sale are the Del Campo, Del Mundo, Del Oro, Del Rio, Del Sol, Delta Caribe, Delta Mar, Delta Norte, Delta Sud, Santa Paula, and Santa Rosa. MarAd Approves Sale Of Delta Steamship To United States Lines The Maritime Administration and Maritime Subsidy Board have approved the purchase by United States Lines, Inc. (USL) and United States Lines S.A. (USL/SA) of 11 ships, 549 LASH barges, and other assets of Delta Steamship Lines, Inc. Under the MarAd action, USL will also: • Subcharter from Delta three new Circle 229 on Reader Service Card 5 If our insurance broker can't cut your marine/ oil & gas risks, our safety engineers can. You'll get the most cost-efficient coverage possible from the marine/oil & gas insurance specialists at Wm. Keith Hargrove. We dig into the reasons behind the numbers and help our clients identify potential acci- dents in their operations-services that go beyond those of the ordinary insurance broker. A computer program developed specifically for analyzing the claims of marine and oil & gas opera- tors helps us pinpoint problem areas in their oper- ations, show them how much they're spending on deductibles and reduce overall costs. We have marine and oil & gas safety engineers on staff-a unique service among insurance brokers. Our safety and loss control studies have helped numerous clients reduce personal injuries and equipment down- time-in addition to lowering the cost of their coverage. Most important of all, we'll be there when you need us-because we're committed to providing our clients with highly personalized service. If you'd like us to review your marine or oil & gas coverage, please contact Wm. Keith Hargrove. VilH Wm. Keith Hargrove, Inc. INSURANCE/RISK MANAGEMENT CONSULTANTS 1300 Post Oak Blvd. Suite 2050 Houston, Texas 77056 (713) 621-7428 Telex: 774522-WKH HOU
