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standby vessels for Summer Wind Navigation Inc. The vessels are scheduled for delivery during 1998 and 1999. Morocco Invites Bids For $300 Million Port Morocco is inviting five foreign consortiums to bid on a project to build a $300 million port in the northern city of Tangier. The port which will be located about 12 miles south of Tangier, and will ease congestion in the existing port and create an infra- structure for external trade. The site of the new port is on a deeper harbor area which will be able to accommodate ships of greater tonnage than the existing port. IT Venture Launched A.P. Moeller's Maersk Data unit will participate with Britain's Cable and Wireless pic in a global IT-communications for container- ships joint venture. A new jointly- owned company called Cable & Wireless Nautec is scheduled to be launched this month, if EU approval is granted. •Jack Fisber, President J.W. Fishers Mfg., Inc. Call for a free catalog or to order our demonstration video. Pulse 8x u/w Metal i Detector I DHC-1 Diver-held Camera $3,495 "Maximize your bottom time t a minimum cost with our J TOV-1 Towed Video System." "The only low cost towable camera system on the market today, the TOV-1 is ideal for large scale searches, visual inspections of dive sites, aid many other applications because it can cover a large area quickly. "The camera of the TOV-1 is mounted in housing to give both straight ahead and downward viewing." The system can also be used as ^-dropped video system for straight down and side viewing. The video picture it provides is high quality and can be viewed on a monitor or TV and recorded on video tape." Only $4,195 J. W. Fishers Mfg., Inc. 1953 County St., E. Taunton, MA 02718 USA (800)822-4744 Tel. (508)822-7330 FAX: (508)880-8949 or 822-1931 Side Scar S2i Circle 268 on Reader Service Card $18,995 Proton 3 Marine Magnetometer Exclusive agents for MARITIME REPORTER AND ENGINEERING NEWS in Scandinavia I AB STEPHAN R G ORN P.O. BOX 184 S-271 24 Ystad SWEDEN Tel: +46 411 184 00 Fax: +46 411 105 31 e-mail:marine.marketing@stephan-orn.se Scandinavian Marine Industries Established Consultants on International promotion for the Scandinavian Marine Industry for more than 25 years. Aging Tanker Fleet Forces NITC Into Ordering Mode South Korea's Daewoo is first to benefit, with contract for five Suezmax oil tankers National Iranian Tanker Company (NITC) is reportedly moving quickly to buy new oil tankers to replace its aging fleet. NITC has awarded a contract — reportedly worth $300 million — to Daewoo Heavy Industries for five 158,000-ton Suezmax type oil tankers, and the state-owned company is expected to award a contract for five 100,000-ton Aframax tankers in the next two months. According to an NITC source, the first Daewoo-built tanker will arrive within 27 months, with the balance of the four delivered in 45-day increments. In addition, NITC reportedly plans to purchase up to five oil product carriers and five VLCCs following the Aframax purchas- es. NITC has scrapped 15 of its tankers in recent years, reduc- ing its own fleet to 11 crude tankers and nine product tankers. The reduced fleet has caused the organization to spend money to time charter vessels from the international spot mar- ket. NITC is responsible for exporting approximately 950,000 bpd of Iran's 2.6 million bpd crude exports on a delivered or charge, insurance and freight (cif) basis. It also time charters its own VLCCs in the spot mar- ket. Iran is the world's third largest oil exporter behind Saudi Arabia and Norway and is heav- ily reliant on the $18 billion a year that oil revenue brings to the country. Daewoo supplied NITC with five 300,000-ton VLCCs in 1996. In addition, Daewoo has also won a total of $470 million in orders to build seven oil tankers. A company statement said a $170 million order to build two 300,000-ton VLCCs was award- ed by Euronav Luxemburg S.A. The carriers are scheduled to be delivered in the first half of 1999. 18 Maritime Reporter/Engineering News
