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Carry a Lot Of Weight TODD L.A.'s Syncrolift: The World's Largest Shiplift and Land Level Ship Transfer Facility. Ready to Provide the U.S. Navy with Fast, Cost-Effective New Construction, Repair and Overhaul of Surface Combatants. ! M^B ^•aifB. ti >/ "f•r-i/.-V-v.^GV iiiwii t# A»8fi£i te Todd Shipyards Corporation One State Street Plaza, New York, N.Y. 10004 Tel: (212) 668-4700 Cable: "Robin" New York LOS ANGfil.ES/SANI FRANCISCO/SEATTLE NEW ORLEANS/GALVESTON feifl fif »->; - Tidewater Adopts $40-Million Capital Expenditure Budget For Fiscal 1986 Tidewater Inc. has adopted a cap- ital expenditure budget of $40 mil- lion for fiscal year 1986 which com- menced on April 1, 1985. The budget, which will be funded largely through internal cash gener- ation, is as follows: marine services, $25 million; compression services, $12 million; and oil and gas, $3 mil- lion. Capital expenditures for marine services include $2.8 million for the acquisition of two 92-foot line han- dling tugs for the Nigerian AGIP Oil Co. Ltd., a venture of the Nigerian National Petroleum Co. and AGIP, the national oil company of Italy. The tugs will serve off the coast of Nigeria, West Africa; $7.2 million is for the modification of towing- supply vessels in the present Tide- water Marine fleet to support the offshore oil and gas industry's new deepwater Gulf of Mexico discover- ies which have prompted the need for more powerful equipment to serve floating drilling rigs in this area. Modifications include the ad- dition of more powerful winches, remote-controlled, hydraulically- operated anchor handling tongs, and automatic control systems which integrate the thruster, navi- gation and propulsion system into a single source. Another $15 million has been dedicated to the acquisi- tion of used additions to the fleet as opportunities for such equipment arise in the marketplace. Expenditures of $12 million have been dedicated to Tidewater's com- pression business. Of this, $8.5 mil- lion is for the acquisition of addi- tional natural gas compressors; $2 million is for the construction of small "turnkey" compressor sta- tions; and $1.5 million is for miscel- laneous equipment. Approximately $3 million will be applied to a modest domestic oil and gas exploration program. Tidewater owns and operates one of the world's largest fleet of vessels supporting the offshore oil and gas industry and is active in oil and gas exploration and production and in the air and natural gas compression business. The company also has modest interests in real estate and insurance. Dewhurst Named Northeast Marketing Director For Kort Propulsion Peter K. Dewhurst Gerald H. Lancaster, manag- ing director of Kort Propulsion Company Ltd. of Brentwood, En- gland, designers and manufacturers of propeller systems for more than 50 years, has announced the ap- pointment of Peter K. Dewhurst as director of marketing-New En- gland. Mr. Dewhurst, an honors grad- uate of London University and engi- neering officer in World War II, had been vice president-engineering for Mathewson Corporation in Quincy, Mass., since 1968. he has 35 years of experience in the right angle drive and thruster market, combined with extensive knowledge of Kort nozzle propulsion and steering techniques. Butterworth Announces Butterworth, Inc., an Exxon affil- iate, has announced a new Scamp® underwater hull cleaning station at Busan Harbor in the Republic of Korea. This newly established con- tractor, Korea Marine Engineering Company, Ltd. (KOMECO), is managed by S.Y. Kim. Mr. Kim, a graduate of Busan Sunub University, served in the ROK Navy and has extensive expe- rience in underwater hull cleaning, repairs, and maintenance. KOME- CO will also offer services to Korea's West Coast from Inchon to Mozpo, to the East Coast from Mukho to Pohang, and to the South Coast from Ulsan to Yrosu. Other services provided by KO- MECO include underwater surveys, welding, cutting, repairs, cofferdam installation, propeller repairs, as well as miscellaneous cleaning ser- vices. Circle 30 on Reader Service Card New Scamp Cleaning Station In South Korea August 1, 1985 Circle 292 on Reader Service Card 41
