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MARINE FINANCE Incat Sells Wave Piercing Cat Incat Australia has sold its sec- ond 282.1-ft. (86-m) wave piercing catamaran. Sicilia Jet (Hull 043) was purchased by Italian interests for operations on the 170-nm Naples to Palmero route. The introduction of the vessel will reportedly reduce the crossing time between the ports from nine hours to four. "Sicilia Jet is currently the only foreign-built, high-speed car ferry in commercial service in the Mediterranean," said Incat Chairman Robert Clifford. "I expect, as has been the case in other parts of the world, that the speed, convenience, comfort and reliability of the wave piercer will significantly increase both passen- ger and vehicle traffic on the route." Incat claims credit for con- structing more than 40 percent of the world's fleet of high-speed car ferries. For more information on Incat Circle 31 on Reader Service Card Kvaerner Kleven Wins $50 M Contract Kvaerner Kleven reports that it has won a $50 million contract for two anchor-handling tug and sup- ply (AHTS) vessels from Torm U.K. The ship model — KMAR 404 — was designed by Kvaerner Maritime to service rigs and pro- duction vessels in medium and deep waters. Both vessels are due for delivery in the first quarter of 1991. Most of the services and components will also be supplied by Norwegian companies. "This contract ensures full employment for all our 450 employees at Ulsteinvik and Rovde during this period," said Kvaerner Kleven Sales manager Erik Andreassen. Kvaerner Kleven has a reported nine off- shore vessels and one chem carrier on its books, worth a combined $257 million. For more information on Kvaerner Kleven Circle 32 on Reader Service Card Sea Containers Forecasts Earnings; Appoints CFO At its recent annual sharehold- ers meeting, Sea Containers Ltd. forcasted significant improvement in 1997 earnings per share over the $1.20 reported in 1996. July, 1997 "Although we expect operating income from container leasing to be down somewhat from 1996 lev- els, we see substantial, offsetting gains in our ... passenger trans- portation business which should produce total net income on com- mon shares more than double the 1996 results," said James B. Sherwood, Sea Containers presi- dent. "Ferries are expected to produce significant improvement in 1997 because two new SuperSeaCats will be operating the summer sea- son, one in Scandinavia and the other in the English Channel. Our hoverspeed operation across the English Channel is expected to have an improved year in 1997," Mr. Sherwood added. In addition, Sea Containers' board of directors has appointed Daniel J. O'Sullivan as CFO. He was formerly senior vice president, Finance, and treasurer for the company. Land Earth Stations and Mobile Terminals Since Inmarsat began to offer satellite communications between ships at sea and the international telephone and telex networks more than a decade ago, Nera has been the leading manufacturer of Inmarsat technology. Nera has designed and built nearly forty per cent of all Land Earth Stations in the Inmarsat system. About 8,000 Mobile Earth Stations of the Saturn family have been commissioned on ships and on land. Nera is the world's leading supplier of Inmarsat Land Earth Stations and Mobile Terminals. Saturn - 8,000 units on ships and on land Nera AS Satcom Division Bergerveien 12, P. O. Box 94, N-1 361 BILLINGSTAD, Norway TELECOMMUNICATIONS Tel.: +47 66 84 47 00. Fax.: +47 66 84 46 21. Telex 71 721 umeb n Circle 287 on Reader Service Card NERR
