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replace another vessel, the Pinto. The company did not disclose the ship's buyer. The Senglea is the former Arcade Eagle, built in 1981 for the Norwegian company LeifHoesh. It was bought by Sea Malta a year ago and is capable of earring 86 TIR trailers, 300 containers or 500 cars. Benor Buys Five Tankers For $99 M Benor Tankers Ltd. has spent $99 million on the purchase of five product tankers during July and August. In a statement to the Oslo stock exchange, Benor said it had bought the medium-range/handymax product tankers Leopard, Panther, Tiger and Endurance, as well as the long-range/Panamax tanker Trader. The acquisitions have been financed through a $68 million loan and $20 million in Benor shares, with the balance coming from other company funds. According to Benor, the four medi- um-range vessels will all continue their current time charter employ- ment. Benor also holds contracts for two medium-range newbuildings to be delivered during the first quarter of 1999. Ugland Nordic Buys Four Ships For $113 M Ugland Nordic Shipping AS has reportedly agreed to acquire four tankers for $113 million, funded largely by a new share issue. The company said it will pay $82.5 million in shares for three oil tankers controlled by Norwegian shipowners Seabulk AS and L. Gill-Johannessen AS. The 107,000-dwt, 1997-built Suezmax tanker Svenner will reportedly cost $45 million, and will be converted into a shuttle tanker after the expiration of her current charter in spring 1998. The 48,000-dwt, 1985-built dou- ble-hulled sisterships Biakh and Brali, at $18.3 million and $19.3 million respectively, are suited for conversion into either shuttle tanker or floating production units. Ugland Nordic has exercised its option to acquire a fourth ship, the 1996-built Suezmax shuttle tanker Sarita currently on time-charter to Statoil. Sarita will be bought for $30.8 million in shares from the private- ly-held Andreas Ugland & Sons, Ugland Nordic's largest sharehold- er. Unocal Sets Rig For Deepwater Exploration Spirit Energy 76, Unocal Corp.'s Lower 48 exploration and produc- tion business unit, said it has signed a memorandum of under- standing with Smedvig Offshore Limited for a deepwater drill ship that can operate in 10,000-ft. (3,048 m) of water. The drillship is currently under construction and has been designed to provide dual activity and capacities for production test- INTRODUCING ... MARITIME WEEK Maritime Activity Reports, Inc., the leader in providing news and informa- tion to the maritime industry for over 50 years, proudly introduces Maritime Week. Published 52 times per year, Maritime Week is designed to deliver business and financial news and analysis regarding the international maritime marketplace, to busy industry execu- tives in a timely and cost effective manner. Maritime Week supplies read- ers with the "need-to-know" informa- tion that is crucial for short-term and long-term planning. Feature articles, regular news sections and statistical compilations are designed to not only deliver the international, national, from the publishers of Maritime Reporter and Engineering News I 1 MARITIME WEEK SUBSCRIPTION • Yes! Please send me 52 issues of Maritime Week for just $295.00 Name Company Address . Country _ .Zip. City State _ Phone. e-mail • Check Enclosed Please Bill My • VISA • MASTERCARD Account Number Fax. Expiration Date _ Signature. I I MARITIME ACTIVITY REPORTS, INC. >118 EAST 25TH STREET • NEW YORK, NY 10010 regional and local happenings — but to provide the BIG PICTURE: insight and invaluable analysis avail- able only from a staff of seasoned industry journalists who are strategical- ly positioned around the globe. Weekly features will keep readers abreast of the performance of industry stocks, provide current contract infor- mation, profile the equipment, people and companies currendy setting the trends in the maritime industry ... and much more! So don't delay. Fill out the form at left and fax it to us at 212-254-6271 to start your subscrip- tion to Maritime Week today! You'll wonder how you ever did business in the maritime industry without it! October, 1997 Circle 203 on Reader Service Card 107 Circle 201 on Reader Service Card
