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Ship Design Naval Architecture, Marine Engineering, and Program Support Services Hi Since 1957 - Commercial and Military Ship New Construction and Conversion Design, Detail Design, International Construction Program Support, Marine Consulting, Pollution Prevention Programs New York, NY • Arlington, VA • Newport News, VA • Pittsburgh, PA Port Hueneme, CA • Bath, ME * Seattle, WA • Pascagoula, MS John J. McMullen Associates, Inc. Two World Trade Center.Suite 1510 New York, NY 10048 Tel: (212)466-2200 Fax: (212)466-2282 Circle 379 on Reader Service Card DnB: Banking On Maritime In typical banker fashion, Norway's Den Norsk Bank (DnB) professes not to strive to be the largest, rather simply the most profitable financial institu- tion serving the maritime markets. While trite, their statement carries significant weight given the bank's unique approach to making money in the maritime niche. A staff of 102 services DnB's maritime clients, providing capital and infor- mation needs to executives in the shipping and off- shore markets. This staff has impressively amassed a portfolio totaling more than $9 billion under man- agement. Looking at the big picture, shipping assets account for a hefty 15 percent of the bank's overall yearly take, a fact which further stresses DnB's com- mitment to the market. Making The Grade In evaluating the creditworthiness of its new cus- tomers — and in the end, the cost of the loan — DnB developed and employs a unique grading system which is based on both financial and non-financial factors, such as the quality of the management or whether or not the company holds a monopoly. Interestingly, the non-financial factors account for 60 percent of the equation. "It is important 'who' we do business with," said Eldbjorg Sture, general man- ager of DnB's Shipping Division. "The point, though, is not to just grade the customer, but to integrate that [grade] into the pricing of the deal." The overall grading system fits well into the (Continued on page 91) Company: Address: Post code: Problem: corroded pipe sys^s? LR Industri A/S, Bornholmsvej 8, DK-9670 Lagster Tel. + 45 99 66 15 00. Fax + 45 99 66 15 50 Please contact us for details about pre-insulated pipe systems for marine use. Name: LR Industri's pre-insulated pipe systems offer great advantages to the shipbuilding industry. The pipes feature a chemical resistant jacket with a temperature range of -200°C to +450°C. The jacket material is tough and 100% waterproof. The pipe system is designed to tolerate full immersion and impact from waves. /// 88 Circle 264 on Reader Service Card LR Industri LR Industri A/S Tel. +45 99 66 15 00 | Bornholmsvej 8 Fax +45 99 66 15 50 J DK-9670 Logstor E-mail: lrindustri@logstor.com | www.lrindustri.com E Maritime Reporter/Engineering News