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MARINE FINANCE Sumitomo To Supply Tankers To Russian Shipper Sumitomo Corp. has won an order from Novorossiysk Shipping Co. of Russia for two 100,000-ton, double-hulled oil tankers. The tankers will be manufactured by steelmaker and shipbuilder NKK Corp. Earlier in the year, Sumitomo and NKK received an order to build four tankers for the Russian company. For more information Circle 71 on Reader Service Card Halla Heavy Wins Norwegian Crude Carrier Contract Halla Engineering and Heavy Industries Limited has won a $104-million contract for two 153,000-dwt crude oil tankers from Norwegian company Jahre Dahl Bergesen. The first is scheduled for delivery in the second half of 1999. For more information Circle 73 on Reader Service Card Saudi Shipping Firm Signs Deal To Refinance Five Tankers The National Shipping Co. of Saudi Arabia reportedly signed a $300 million deal with Chase Manhattan Bank to refinance the purchase of five VLCCs. The Riyadh-based firm, 28.8 per- cent of which is owned by the Saudi government, has already taken delivery of the five VLCCs, which were built at a cost of approximately $400 million by Japan's Mitsubishi Heavy Industries. Farstad Enters Kvaerner Ship Deal Farstad Shipping ASA has signed an agreement of intent with Kvaerner ASA for the construction of two VS 483 platform supply ves- sels. The vessels are scheduled for delivery in December 1998, and February 1999. December, 1997 Transocean Wins Contract Transocean Offshore Inc. was awarded a 2.5-year contract by Petrobras for the third-generation semisubmersible Transocean Driller which is expected to gener- ate revenues of $125 million to $130 million including a daily earned bonus opportunity. OSG To Sell 10 Old Cargo Vessels Overseas Shipholding Group Inc. plans to dispose of 10 of its older dry cargo vessels. The company reportedly expects to gain net proceeds of approxi- mately $140 million from selling the ships, which aggregate approx- imately one million dwt. According to the company, funds raised will be used to reduce outstanding indebtedness. Don't leave port without one Aggreko's NEW Worldwide 7 V The world's first global reference for emergency rental power v i § >- Worldwide port contacts >f 75 global depot numbers >- Equipment specifications »- 24-hour rental & technical assistance contacts Call today for your free copy I 1-800-443-2447 www.aggreko.com Circle 213 on Reader Service Card NAVCAD AGILESHIP ™ SHIPMOPC SHIPCAM™ PERCEPTION Proteus Engineering 301 Pier One Road, Suite 200 Stevensville, MD 21666 USA tel +(410) 643-7496 fax +(410) 643-7535 email: flagship@atinc.com www.access.digex.net/--proteus CALL TODAY TO LEARN HOW FLAGSHIP CAN IMPROVE YOUR| DESIGN AND CONSTRUCTION PROCESS. HPROTEUS Jjf BIG BLUE View Your Entire Loading Operation Ijni One Glance! The on-deck cargo loading display is designed for use by shipboard personnel on board tank ships and barges to view the complete loading operation in one glance. It is built for the harshest environ- ments of temperature, water, salt, and vibration. It is approved by both ABS and USCG in full com- pliance for on-deck cargo loading operations. • Tank ullages in feet, inches or meters. • Individual tanks rate-of-fill or empty in BBLS/Tons/GAL or metric. • Individual tanks time-to-full or empty in HR/Minutes. • Individual tank temperatures. • Header pressure. • Individual pump status ON/OFF. • Two alarm set points for ullage, temperatures and pressures. X ELECTRONIC MARINE SYSTEMS, INC. 800 Femdale Place Rabway, NJ 07065 —• Call today for more informationf 732.382.4344 732.388.5111 fax emsmarcon@aoi.com e-mail E N G l N RING Circle 297 on Reader Service Card 17 Circle 214 on Reader Service Card