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Oslo Exchange Makes It Mark The Oslo Stock Exchange (OSE) has emerged as a maritime force in the past year, attracting a host of companies seek- ing initial and second listings. The Exchange's list of shipping and offshore companies has quickly gained significant stature among the maritime community as providing a bellwether of industry trends. The Exchange's shipping and offshore list has enjoyed such rapid growth — alto- gether, there are around 60 shipping and offshore companies listed on the OSE, more than 20 with tanker activities, with a total value of about $7 billion — through careful management and promo- tion. Tore J. Fjell, OSE's senior vice presi- dent, has been touting the high level of attention shipping and offshore compa- nies receive in Oslo, whereas a company listing on the larger exchange in, for example New York, would be quickly lost due to relatively small capital values. "We want to be the world leading stock exchange in shipping and offshore, not the largest overall," said Mr. Fjell. With the realization that it's not going to replace the New York Stock Exchange anytime soon, OSE has successfully sold listing on the shipping and offshore lists based on the outstanding, in-depth cover- age and analysis available with such as listing. "Shipping and offshore compa- nies need both the U.S. and Oslo," said Mr. Fjell. 'The U.S. capital markets are the largest in the world, so a company needs that market for the money. But Oslo provides high interest, knowledge and analysis." He specifically notes the very strong interest and knowledge of maritime matters in Norway, and pledges that companies will receive no finer expo- sure elsewhere. OSE has also made it easy for companies to list, lifting bureau- cratic tie-ups common in other markets, and allowing for companies with limited histories — providing that the companies meet other qualifying standards — to list. Also, it's worthy to note that shipping and offshore companies listed with OSE raised more than $2 billion last year. Circle 66 on Reader Service Card Tanker companies listed on the OSE Awiko Benor Tankers Bona Shipholding Ltd. Bonheur Borgestad First Olsen Tankers Ltd. Frontline Ltd. Ganger Rolf Jahre Tankers Loki MIF Ltd. Mercur Tankers Mosvold Shipping Ltd. Nordit Am.Tankers Stolt Nielsen SA Storli Team Shipping Ugland Nordic Shipping Waterfront Shipping Willi. Wilhelmsen design follow-up to one of the industry's most successful and pro- gressively enhanced medium- speed types, the Vaasa 32, will be manufactured at an assembly plant to be established at Hitachi's Innoshima works. Under the aegis of the joint production firm Wartsila Diesel Japan Company, the Innoshima assembly operation will use engine components from Wartsila NSD's sub-suppliers and from the group's Vaasa factory in Finland. A Concentration Of Building Resources Finnish shipbuilding - now overwhelmingly concentrated in two Norwegian-owned companies, Kvaerner Masa-Yards (KMY) and Aker Finnyards — has been boost- ed by a strong order flow in recent months. KMY, as one of the world's most skilled practitioners in sophisticated vessel design and construction, has consolidated its (Continued on page 90) E A T E X C H A N G E R S Operate More Efficiently At Lower Cost With Tranter Heat Exchangers HEAT RECOVERY FROM CONDENSATE » CONDENSATE DESALINATION UNIT COOLING ELECTRONIC GEAR HEATING RECOVERED OIL STEAM PLATEOOIL HEATED TANK FOR BANK RECOVERED OIL SPILLS CENTRAL FRESH WATER COOLER SEAWATER SUPERCHANGER UNIT RADAR L »-SEAWATER SEAWATER SUPERCHANGER / OR FRESH UNIT WATER COOLING MAIN ENGINE LUBE OIL SUPERCHANGER UNIT TO VARIOUS USE POINTS FRESH WATER STORAGE TANK DIESEL ENGINE SEAWATER OR FRESH WATER Naval ships, fleet oilers, commercial container- ships, tankers and dredges are successfully finding new ways to operate more efficiently at lower cost, by utilizing Tranter's unsurpassed plate-type heat exchanger technology. Schematics presented here illustrate typical ways they are doing it. 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With over 65 years of heat transfer problem solving experience, Tranter is uniquely poised to answer your tough questions and solve your precise needs. Call us at (940) 723-7125. Better still, call your local Tranter representative. ISO 3 D O 1 C E R T MADE IN U.S.A. TRANTER, inc., Texas Division P.O. Box 2289 A Wichita Falls, TX 76307 (940) 723-7125 A Fax: (940) 723-5131 www.Tranter.com/Texas D 1998 TRANTER, inc. 650270 E X c H A N G E R S 88B Circle 365 on Reader Service Card