View non-flash version
munity, however, are seen as growth opportunities — with the Club providing a fresh option for high quality owners of young tonnage looking for new alternatives. With its focus on quality fleets, the Club has yet to lose a single vessel to the fixed premium P&I providers. Lindh adds: "We consider ourselves a fixed premium facility, in the sense that we have had no sup- plementary calls for the past eight years. In this way, we provide certainty." Financial strength is a factor of crucial importance. The Swedish Club's free reserves now approach $90 million. This allowed the Club to discount the 1998/99 P&I premium by 10 percent, freeze the 1999/2000 P&I premium and close the 1998 hull year at 95 percent of premium for existing members. During the past year, The Swedish Club has made significant progress in enhancing its loss prevention services for members. The Club's current loss preven- tion program includes two major initiatives: continued support for Bridge Resource Management (BRM) training and a project aimed at reducing the incidence of main engine damage. The Swedish Club, six other maritime organizations and the SAS Flight Academy signed a new BRM oper- ating agreement earlier this year. This marked the sixth anniversary of the establishment of this global training program, which focuses on developing positive human Another One Bites The Dust The consolidation craze sweeping maritime markets has claimed its latest victim, as Norway's Frontline last month won a two-year, often acrimonious battle for Swedish tanker company ICB Shipping. The final sale, however, required that four of 12 ICB tankers be sold to a new group set up by key ICB players. The deal means that Frontline— headed by shipping magnate John Fredriksen — is now one of the world's biggest tanker groups with a fleet of 37 Suezmax and VLCC tankers. In connection with the deal, ICB's board sold four VLCCs to a newly established company — ACOL Tankers Ltd. — for $189 million. All four vessels currently operate on the market. ACOL will also acquire ICB's 30 percent shareholding in Stockholm Chartering at book value. Circle 330 on Reader Service Card Your Firm Marine Partner in America / China Qj^bst for Ex cbLLbttcb ^Marine Propulsion Inc. » MARPROP THRUSTERS - 100 - lOOO HP Tunnel Thrusters » HEIMDAL - Controllable Pitch Propellers^ - Marine Gears » KORT PROPULSION LTD. - Nozzles - Propellers - Thrusters - Steerable Jets » LOHMANN & STOLTERFOHT - Clutches and Torsional Couplings » LO-REZ - Torsional Couplings and Vibration Control » INTERNATIONAL ELECTRIC COMPANY. IMC. - SCR Drives and Controls for Marine Propulsion • COMPLETE TURNKEY SYSTEMS • SALES, PARTS, SERVICE Marine Propulsion Inc. 1505 Corbin Ave • Hammond, LA 70403 Tel. 504-542-5344 • Fax: 504-542-5347 www.marinepropulsion.net • e-mail:marprop@bellsouth.net Stocklist for New / Second-hand • Main engine parts • Auxiliary engine parts • Anchor & chain cable • Lifeboat & life-raft • Other machinery equipment Ship Repair Service at Chinese Ports & Shipyards • Voyage repair • Dry-docking • Overhauling & reconditioning service Foundry & Machine Shop for: • Cylinder liner/cover • Piston crown/skirt/ring • Water guide jacket • Other machinery parts For m/>re- utfbruuituin, visit us at: WWW. .com Y ISO 9002 behavior, which contributes to the safe and pollution- free operation of vessels. As for main engine damage, the Club has taken mea- sures to ensure that members are fully aware of the risks and problems associated with specific engine types, based on a careful analysis of engine damage A cases. This has allowed the Club to offer the engine manufacturers a new dataset on engine performance in service. It is now engaged in discussions with the manufac- turers, to encourage new initiatives designed to reduce main engine damage. CERTIFIED WATER TAXIS, TOUR BOATS, SMALL FAST FERRY BOATS, PILOT BOATS, RIB S & GOVERNMENT BOATS i WILLARD j W ^ MARINE | 40" - 49 Passenger Water Taxis for Long Beach Public Transportation Co., operated by Catalina Express awitui WILLARD MARINE, INC. Established 1957 1250 N. Grove Street Anaheim, CA 92806 U.S.A. Phone: 714-666-2150 ext. 211 • Fax: 714-632-8136 Web site: http://willardmarine.com e-mail: webmaster@willardmarine.com MARISO USA, Inc. 100 Davidson Avenue Somerset, NJ 08873, USA Tel: 1-753-271-2755 Fax:1-732-271-2744 E-mail: sales@marisco.com MARISO Co., Ltd. 18F. 1958 Zhong Shan Bei Rd. Shanghai, 200063, P.R. China Tel: 86-21-6203 0206 Fax: 86-21-6203 3785 E-mail: sales@marisco.sh.cn October, 1999 Circle 271 on Reader Service Card Circle 329 on Reader Service Card 37
