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MARINE FINANCE Veritas (DNV). The 241-ft. (73.5 m) AH/TS vessel is expected to be delivered in April 1998. "We applaud Secunda's vision and faith in America's shipbuilding industry. This contract continues to bolster the resurgence of American shipyards, enhance U.S. competitiveness, and provide employment for America's skilled labor force," Secretary Slater said. Eastern Shipbuilding Group To Build Crewboat/Ferry Mar Ad has extended a $9.6 mil- lion federal loan guarantee to Eastern Shipbuilding Group, Inc. to help finance the construction of a high-speed, 250-passenger crew- boat/ferry to be built in the Florida shipyard for Trico Marine. Delivery of the twin hull vessel is expected in December and will operate with an American crew under U.S. registry. Trico Marine will operate the new crewboat/ferry for Petrobras Brasileiro S.A., the Brazilian state oil company, for servicing oil plat- forms off the coast of Brazil. Under the Title XI ship financing program administered by MarAd, funds are secured in the private sector with repayment guaranteed by the federal government. MarAd has agreed to guarantee approxi- mately $9.6 million or 75 percent of the estimated $12.9 million cost of the vessel. The term of the financing is eight years from deliv- ery of the vessel. Corn Island, Tidewater Equipment Get MarAd Boost A $6.6 million loan guarantee was approved by MarAd to help finance the construction of seven ocean deck barges for operation in the U.S. Gulf of Mexico and U.S. coastal waters. Five of the seven barges will be built at the Corn Island Shipyard while the remain- ing two will be constructed at Tidewater Equipment Cashman Equipment Company. Tidewater will deliver one barge in January 1998, with the second following one month later. Corn Island will begin delivery of its first barge April 1, 1998, and supply one each month thereafter. "These new ship orders will cre- ate jobs for skilled American work- ers by government partnering with industry to promote economic development," Secretary Slater said. "This program is a real plus for American shipyards, their workers and their suppliers." Hellenic Shipyards Wins Conversion Contract Hellenic Shipyards Co. recently won a contract from the Latsis group of companies to undertake conversion work on motor yacht Alexander. The 393.7 ft. (120 m) vessel will be converted into a high class passenger cruise liner which conforms to all IMO structural and safety requirements. In addition to utilizing its own workforce, Hellenic Shipyards are involving the services of the cruise liner out- fitting company Ippokampos SA and other local contractors. The work, which began in September, is scheduled for completion in February 1998 and will involve structural and outfitting changes to the vessel. Though the value of the contract has not been made public, it is reportedly expected to be in the millions and is subject to heavy penalties for late delivery. When Captain O'Connell speaks. Trident Seafood saves money. The best value in maritime communications. There's no end to the ways you can spend money on your fleet. Which is why it's nice to know that with Skycell® service from American Mobile Satellite, you can get satellite telephone voice and data communications throughout North American waters and the Caribbean—for a lot less than you'd think. American Mobile Satellite's service costs as little as $1.19 a minute, with equipment that starts at just $5,495- So Skycell service makes good sense on price alone. But you get even more value from its exceptional collection of features and full range of calling options—like conference calling and voice mail. Seamless coverage. Coast to coast and beyond. Tracphone' HMfc) Easy to use, reliable and completely confidential. Skycell service is easy to use, too—no matter where you use it. You dial direct. Your callers dial direct. No special codes or access numbers. No hassles. Thanks to our digital technology, you can count on exceptional quality and complete privacy for all your communications —including data transmis- sions. What's more, both the phone and antenna are fully marinized and sta- bilized to take the pounding that comes from life at sea. Start saving now. Pick up the phone. The Tracphone™ has a 19-inch actively stabilized antenna that can be mounted easily and unobtru sively on any fishing vessel—including yours. With American Mobile Satellite, you can stay in touch wherever you go. The seamless coverage area includes virtually all of North and Central America and surrounding waters—from Alaska all the way to the Panama Canal and throughout the Caribbean. The bottom line is whether you have a single boat or a fleet, American Mobile Satellite can probably help you lower your communication costs. For more information, call 1-800-872- 6222. Or visit our Web site at www.skycell.com. American Mobile SATELLITE 1997 American Mobile Satellite o o 872-6222 Ext. 5224 Circle 208 on Reader Service Card November, 1997 17
