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MARINE FINANCE ery of all 10 carriers by the end of 1999. Crowley Sale Of Bay Asset Nears Conclusion San Francisco-based company Fisherman's Wharf Bay Cruise was to complete the purchase of Red & White Fleet bay cruise and charter operations from Crowley Maritime Corp. last month — a transaction including the acquisi- tion of Pier 43-1/2 at Fisherman's Wharf. "We will continue to operate as Red & White, offering both bay cruises and land tour products with expansion into fast ferries," said Thomas Escher, president of the new company and grandson of Crowley's founder. Former Red & White Fleet GM David Pence will serve as Marketing executive vice presi- dent. Previously linked to P&O and the Fred Olsen Group, John Keith-Berkley will serve as exec- utive vice president and CFO. In addition, William Stotler has been named Sales vice president and Capt. James Reed will con- tinue his tenure begun at Red & White Fleet as port captain for the new company. Xylan Chosen As SmartShip Supplier Xylan Corp. products have been chosen for the U.S. Navy's SmartShip program, which strives to reduce shipboard personnel requirements through advanced technology. SmartShip subsystems include integrated condition assessment systems, damage control systems, machinery control systems and integrated bridge systems. The first SmartShip installation is aboard Ticonderoga class Aegis cruiser USS Yorktown, and the Xylan backbone network on this ship was reportedly the first ship- wide ATM backbone installed on a U.S. Navy ship. The network architecture for SmartShip consists of a shipwide backbone network based on ATM switching for distribution of real- time control system and naviga- tion traffic among dedicated, switched Ethernet connections to SmartShip consoles, workstations and engineering signal data distri- bution nodes. Transocean Offshore Completes Divestment In Norway Transocean Offshore Inc. has reportedly completed its divest- ment of non-core activities and assets within its drilling services line of business in Norway. Net proceeds generated from the trans- action were approximately $105 million. Reidar Lund resigned as president and CEO of the Transocean ASA subsidiary to head Procon Offshore ASA, which holds the divested operations. Moody's Assigns Rating To P&O On June 2, Moody's Investors Corroee^ Tip * Jet film ^6 A tO 10 "I"® ffSSi thick"** For your FREE CorroseaI tips tard and wet film gauge, tall us toll free 888-4-NO-RUST (888-466-7878) CORROSEAL, INC. COASTAL OCEANOGRAPHICS, INC. 11-G Old Indian Trail Middletield, CT 06455 Phone: (860) 349-3800 Fax: (860) 349-1982 http://www.coastalo.com Circle 233 on Reader Service Card Corroseal is a Registered Trademarks of Corroseal, Inc. http:llwww.corroseal.com • rusHnie@aol.com 10 Circle 235 on Reader Service Card Maritime Reporter/Engineering News HYPACK for WINDOWS HYPACK Hydrographic Software gives you the hydrographic power to lay out survey lines, create plotting sheets, and design cross sectional profiles in a flash. Graphically review your survey data and create new planned lines. Customize your screen sizes. Input up to nine devices, simultaneously. Have single and multibeam data collection capably at your fingertips. Display and edit tracklines, sounding profiles and text data. Apply tide, draft, heave-pitch-roll and sound velocity corrections. Plus: Full DXF/DGN Support. Plotting, including smooth sheets. The ability to create cross section profiles of multibeam ana longitudinal data. And a complete look at your Volumes, including average end area, prismoidal, contour and TIN models. HYPACKs TIN Modeling Program HYPACK's Survey Program The HYPACK series of advanced design programs continues to build on the tx>astal Oceanoeraphics reputation for reliability, accuracy, ana fast, world-wide service.
