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CRUISE SHIP REPORT risk in this case, following the Maritime Administration's rejection of World City Corp.'s Title XI request for aid in constructing a $1.2 billion, cruise "city-state" capable of docking four, 400-passenger day cruisers inside the hull, Westin Hotels & Resorts announced its inten- tion to back the project. The design for the ves- sel — which has now been dubbed America World City: The Westin Flagship — calls for a passenger capacity of 6,200 guests in 2,800 pas- senger staterooms; more than double the size of the largest ships produced today. The ship's design also calls for the construction of three hotel towers rising eight stories above the main deck. In other financial wheelings and dealings, Carnival Corp. reported on October 11 that 21.6 million shares of common stock would be offered for sale by Ted Arison, who reportedly seeks to sell his shares for certain estate plan- ning and other related purposes. The company would not receive proceeds from the sale of the shares, and if the offering is completed, mem- bers of the Arison family would beneficially own 48.2 percent of the outstanding capital stock, giving the family approximately 70.4 percent Intermarine Launches Seventh Osprey Class Minehunter Intermarine USA has launched the U.S. Navy Coastal Minehunter Raven (MHC 61), the sev- enth U.S. Navy ship of the Osprey class to be launched by Intermarine. The ships are designed for minehunting under all environ- mental conditions, with flexible and resilient hulls capable of withstanding the shock of a close mine explosion. The 900-metric ton ships measure 188 ft. (57.3 m) and are reportedly the world's largest ships to be built entirely of glass reinforced plastic. For more information on Intermarine Circle 11 on Reader Service Card CAI Creatively Finances New Containers In a transaction designed to access a variety of financing methods to fund the acquisition of essential equipment without tying up millions of dollars in resources or taking on new debt, Container Applications International Inc. (CAI) has financed approximately $30 million worth of land/sea shipping containers via an off-bal- ance sheet U.S. Tax Lease from Sumitomo Bank Leasing and Finance (SBLF). "Unlike conven- tional financing," said J. Nishibori, CAI's CFO, "the U.S. Tax Lease through SBLF enables us to finance these containers at a competitive cost. This, in turn, enables us to lower our costs of doing business and better positions us to chal- lenge much larger competitors of equal, if not better, footing." Under the terms of the lease, CAI may, at the lease's termination, opt to pur- chase the containers. November, 1996 voting control over the company. At press time, a registration statement relating to these secu- rities had been filed with the Securities and Exchange Commission, but had yet to become effective. While the industry is clearly on the move, market strategies remain surprisingly simple. The essence of the current market was perhaps best captured by RCCL Chief Exective Richard Fain in a Bangkok address last month when he paraphrased a U.S. presiden- tial candidate. "It's the customer, stupid," said the CEO, explaining how consumers dictate change in the industry by demanding greater convenience, faster turnaround and more options. The Safe Shower Water conserving marine lavatory and galley faucets. Thermostatic/pressure balanced shower valves. We have innovative solutions to meet most any installation situation: • Traditional and Space Saver designs. • Put our safety shower valve in-line with most any existing "designer" shower or tub filter. • Run a temperature controlled shower to a remote location, such as the back deck. Our patented thermostatic and pressure balanced shower with automatic shutdown ensures a safe and luxurious shower every time. The revolutionary valve holds temperature changes to ±1°C regardless of fluctuations in water system temperature or pressure. All our quality faucets and showers are made from solid marine brass and are easy to install or retrofit into most any boat or ship. FM Mattsson Tharmotlatlc/PrMiura Balanced System DON'T JUST TAKE OUR WORD FOR IT, ASK OUR CUSTOMERS! U.S. Coast Guard Holland America Cruise Lines Robinhood Marine Brooklin Boat Yard Lux Bay Boatyard Lee S. Wilber& Co. Fairhaven Shipyard The Shelter Institute Concordia Custom Yachts Tribute Performance Boats Boothbay Region Boatyard Palmer Johnson Sabre Corp. Krogen Yachts TPI Wayfarer Marine Pettigrew Yachts Morris Yachts Lyman Morse Nordlund Boat Oxford Boatyard Starboard Marine For more information please contact: Qcanmix Corporation 230 Bartlett Street Lewiston, Maine 04240 call (207) 782-1885 fax (207) 782-1914 Hatchable Galley Equipment. Hatchable to 26" x 66", Lang marine equipment eliminates the need for expensive hull cuts. Other high quality, standard marine features include: • Stainless Steel Exterior • Marine Latches, Grab Bars & Sea Rails • Flanged Legs or Toe Base For more information about Lang Marine Griddles, Ranges, Ovens and Fryers, please call: (800) 882-6368 lane Since 1904 9040 Willows Road • Redmond. WA • 98052 • Fax: (206)882-2373 Circle 284 on Reader Service Card Circle 320 on Reader Service Card ecpm r Delivering Increased Profitability and Navigational Safety Offshore Systems Ltd. (OSL) is a world leader in electronic charting and precise navigation/positioning systems. Canada Steamship Lines, has implemented OSL's ECPINS® technology on both their domestic and international commercial fleets. off/hore /y/tem/ ltd. 107 - 930 West 1st Street North Vancouver, BC, Canada V7P 3N4 Tel: (604) 986-4440 Fax: (604) 987-2555 e-mail: ecpins@osl.com Circle 304 on Reader Service Card 17
