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FAR EAST UPDATE Shipbuilding (MES) for the con- struction of two 75,000-dwt Panamax bulk carriers as part of the tramp fleet modernization pro- gram. The first is scheduled for deployment in the middle of 1999 and the second in the autumn of the same year. When they are com- pleted, they will join the fleet of large-sized tramp carriers. Namura Shipbuilding has signed a letter of intent with Sweden's Stena Bulk for the construction of four 107,000-dwt double hull Aframax tankers. Deliveries are set to begin in December 1999. The contract has been valued at $184 million. Japanese robot maker Orii Corp. recently announced that Namura Shipbuilding is to become its largest shareholder with a 30.7 percent share. Namura has pur- chased stock previously held by Orii chairman Masaru Orii. Sumitomo Heavy Industries (SHI) has redesignated its Oppama facil- ity as Yokosuka Shipyard, where the company's newbuilding activi- ties are concentrated. The compa- ny's nearby Uraga Shipyard, which had been operated by Uraga Heavy Industries until 1969, celebrates its centenary this year. Uraga's docks are today used solely for ship repair work. Further consolida- tion of the diesel engineering sec- tor has been signaled by a new alliance between Finnish owned Wartsila NSD Corp. and Japan's Hitachi Zosen. A 50/50 joint ven- ture production firm, Wartsila Diesel Japan Co. is to be created in Japan to assemble two of the most recently developed, medium speed designs in the Finnish engineered range. Due to start in September, it will also sell other types of Wartsila machinery and propulsion pack- ages into the home market, the world's largest shipbuilding mar- ket. Although it has come close to attracting ferry contracts in the past, South Korea's Samsung Heavy Industries (SHI) is poised to achieve its breakthrough in the RoRo freight vessel market. The South Korean yard is at an advanced stage of negotiations with an Australian operator regarding a requirement for two newbuildings of around 7,000 dwt. The subject design would probably offer a lane capacity in the region of 1,500 to 1,700 running meters. Market sources suggest that the prospective contractual party is Melbourne-based Brambles Shipping and that an order could be sealed before the end of this month. Hyundai Mipo Dockyard (HMD), one of the world's largest ship repair companies, saw its interim profits fall by 40 percent to $1.4 million due to a decrease in ship repair prices. 5 • YEARS EXPERIENCE IN ENGINEERED KEEL CODLING! 44 THE FERNSTRUM GRIDCOOLER IS THE SIMPLEST AND MOST DEPENDABLE FORM OF FRESH WATER COOLING AVAILABLE! " Uniqfue Qualities Found in the Gridcooler... *Closeqt cooling system ^ • * Completely tblecl 3m I factory tested ;-|g "Heavy gunge 3/10 copper-nickel rectangular tube. "Excellent untMouhuit capabilities. silver brazed joints. • k -custom designed. • *Used for decades |on commercial and military vessels. • *6.S. Navy • 20 year rating. Our customers have been saying things like this for decades. We've been engineering cooling systems for all types of marine engines for the last 50 years. Our product is so durable, efficient and easy to install that the U.S. Navy wrote their keel cooling specifications around our Gridcoolers and gave them a 20 year rating. GIVE US A CALL! We'll figure out which of over 8000 different Gridcoolers is right for cooling your engine in your application. DON'T TAKE CHANCES WHEN IT COMES TO YOUR ENGINES' DEPENDABILITY. DO IT RIGHT THE FIRST TIME» » « USE FERNSTRUM GRIDCOOLERS! m EHEtoWffVBIlM & mMflftil¥ Ik WmWN&imsm m MMNI|Rviiiy P.O. Bt.ox 97 1 7 1 6 1 1 TH AVE. i| S '^VLU' ^MENOMINEE, ML 4 9 B 5 B PHONE: 906-863-5553 FAX: 906-863-5634 October, 1997 Circle 329 on Reader Service Card 71
