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GE Capital, Sea Containers Sign Agreement GE Capital and Sea Containers Ltd. signed an agreement to estab- lish GE SeaCo SRL, a Barbados Society with Restricted Liability, which will also operate its existing marine container fleet, becoming one of the world's largest container leasing operations. GE SeaCo will also acquire addi- tional containers for leasing out to both the marine and land inter- modal markets. GE SeaCo will effectively be a 50/50 joint venture with initial capital and member loans totaling approximately $64 million. GE Capital will purchase $25 million of equity in Sea Containers Ltd. and these funds will be dedi- cated to the joint venture. GE SeaCo will lease-in the existing container fleets of both companies on an operating basis and sublease the units to customers. Once the containers have reached certain ages they may thereafter be managed by GE SeaCo for the owners, sold at the owner's request or purchased by GE SeaCo. Montiron Acquires 10% Of Viktor Lenac Montiron Shipping Corporation has reportedly acquired a 10.5 per- cent stake in Croatia's repair docks Viktor Lenac. Montiron Shipping Corporation from Monrovia, Liberia, obtained the stake from the former shareholder, Italy's Arsenale Venezia S.p.A which is currently being liquidated. Viktor Lenac repairs and refurbishes ves- sels and builds platforms for off- shore installations. TECO Transport Expands Mid-South Towing Fleet TECO Energy, Inc.'s subsidiary Mid-South Towing Company, the river barge transportation sub- sidiary of TECO Transport Corporation, has chartered for five years, and entered into a definitive agreement to acquire at the end of the charter term, three towboats and 110 covered river barges from Midwest Marine Management Company. Under the agreement, the towboats and approximately 70 percent of the barges will be absorbed immediately into Mid- South's fleet, with the balance of the barges to follow over the next several months. EU May Eliminate All Subsidies By 2000 There have been signals lately that European Union ministers may agree — as early as this sum- mer — to end aid to the bloc's ship- building sector after 2000 The European Commission last year proposed to end operating aid to the struggling sector, but indus- try ministers from the 15 EU nations disagreed on the plan when discussing it for the first time last November. THE TOUGHEST MARINE PRODUCTS FOR THE TOUGHEST MARINE CONDITIONS. When you need reliable performance, you need Infecolor. We provide a full line of type approved computers and monitors that are built tough and built to last. Our big screen monitors and rugged computers are certified for applications in demanding shipboard environments. Call (770) 623-9145, Ext. 2 to find out why major Integrators and OEMs rely on HP Infecolor marine products. They're built to perform under pressure. Qlntecolor Infecolor Corporation 2150 Boggs Road Duluth, Georgia 30096 (770) 623-9145 • Fax (770) 623-9163 web site: www.intecolor.com • E-mail: sales@intecolor.com Intecolor Europe Amsterdamseweg 15, 1422 AC Uithoorn The Netherlands 31 (297) 531 262 • Fax 31 (297) 531 424 Circle 245 on Reader Service Card We'll Turn Your Wheel 2000 HP SCR Drive in 26Mx33Mx90" Enclosure for Propulsion, Thruster or Winch • PLC interface with other TPC drives, main console and DP systems • Drawout circuit breaker available • USCG and ABS approvals • Front accessible to all components • Status panel for self diagnostics • Single quick disconnect regulator module with no field adjustments • Lifetime warranty for TPC manufactured modules • NEMA 1, NEMA 12 and NEMA 4 enclosures available • Compatible generator controls to accompany D.C. drive • Highly qualified engineering and service staff TECH POWER CONTROLS CORPORATION it 10850 S. Wilcrest Drive, Houston, TX 77099 Tel 281 -530-0082, Fax 281 -530-1976 Marine Materials in May... next month's edition of Maritime Reporter & Engineering News will focus on Marine Materials, and their role in making vessels stronger, lighter and faster. Circle 296 on Reader Service Card