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$ 150-Million Planned For Fleet devitalization The purchasers of B&H Maritime Carriers Ltd. reportedly plan to rename the firm Excel Maritime Ltd. and launch share and bond issues to revive opera- tions over the next three to four months. Excel will seek to raise $100-150 million to finance acqui- sition of Aframax tankers, includ- ing ordering a new vessel, a spokesman said. Earlier last month, B&H Maritime was acquired by Michalakis Odysseos and Vilpa Investment SA for roughly $175,000 from B&H Ocean Carriers Ltd. World's "Most Powerful Diesel" Tested Wartsila NSD reports that the "world's most powerful diesel engine" successfully completed test-bed trials in Japan last month. The 12-cylinder Sulzer RTA96C two stroke marine unit The Anatoi Lifetime Lubricated Bearings Work- hardened Rope Grooves Vertical Directional Block High Sheave to Rope Diameter Grooves for increased Rope Life High-Quality Superior Steel Block! Precision made from superior steel for high strength and low weight. Rope grooves are work hardened during cold forming. High-efficiency, Lifetime Lubricated Bearings are standard with all Jeamar Sheaves & Blocks for maximum performance. Fast Delivery on over 25 Models! JeamarWinclies 1051 Clinton St. Buffalo, N.Y. 14206 Horizontal Tel: (716) 854-3211 • Fax: (716) 854-4141 E'ona' Single Swivel Block Circle 268 on Reader Service Card FOUNDRY AND MACHINE SHOPS SINCE 1860 FUNDITESA SANJURJ0 SPARE PARTS FOR MAR E S E L ENGINES Cylinder liners, cylinder covers, and other spare parts of the finest quality for diesel engines THE LATEST TECHNOLOGY BACKED BY THE GUARANTEE OF LONG EXPERIENCE Postal Address Head Office Phone Fax Telex + 34-86-2053 12 +34-86-207024 83244 FDTSE P.O. Box 64 36280 VIGO SPAIN Romeu, 19 (Corujo) 36330 VIGO SPAIN Circle 245 on Reader Service Card has a power output of 89,640 bhp (65,880 kW) and is being built under license by and tested in close collaboration with Diesel United Ltd. of Japan. For more information on Wartsila Circle 92 on Reader Service Card PGS, Awilco Become One Norway's Petroleum Geo- Services (PGS) and offshore sup- ply group Awilco have merged, effectively creating a leading play- er in marine seismic and floating oil production markets. PGS will acquire Awilco's floating produc- tion, storage and offloading (FPSO) business in a stock deal valued at about $860 million. The transaction includes Awilco's two production vessels Petrojarl Foinaven and Petrojarl I. Van Ommeren Holding Buys 12 Ships For $200M Van Ommeren Shipping Holding unit bought the entire fleet of Czech Ocean Shipping for approximately $200 million. The fleet of Czech Ocean Shipping con- sists of 12 bulk carriers, of which nine are Handy/Handymax and three are Panamax. Norwegian Shipbuilding Aid Extended The EFTA Surveillance Authority (ESA) approved Norwegian plans to extend to the end of December 1997 aid to the country's shipbuilding industry. The plans also extend the deadline for delivery of ships supported under the schemes to three years from when the contracts were signed, rather than the previous December 31, 1998 deadline. The building of ferries can also now b< semi-publicly financed. Festival To Spend $9 Million On Cruise Ship Upgrade Festival Cruises will reportedly spend $9 million to upgrade the Southern Cross cruise ship it has just acquired from CTC Cruise Lines. The 17,000-ton ship, to bj renamed Flamenco, will be refuij bished in Greece before sailing the Caribbean on its inaugurf] cruise on December 3. After tl modernization, the company wil have invested $32 million in thq 700-passenger vessel. 66 Maritime Reporter/Engineering News!
