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-1- VideoRay LLC 400 Eagleview Boulevard Exton, PA 19341 USA tc Ptl +1 610 458-3000 Fax+1 610458-3010 www.videoray.com JHC: Recent Hull Losses Will Increase Pressure For Rate Hikes The Joint Hull Committee in London (JHC) estimates that the total cost of recent marine hull losses to the global insur- ance market could be as much as $750-million. The commit- tee added that the cumulative effect of these losses would result in yet more pressure being applied to rates for hull busi- ness, which are still considered uneconomic despite increas- es having been achieved during the past 12 months. Diamond Princess is the most significant in a string of expensive claims to hit the marine insurance market recently. The vessel, which had a Full Contract Value of up to $500- million, was being built for P&O Princess Cruises at the Mit- subishi Heavy Industries yard in Nagasaki, Japan, when it was engulfed by fire, which caused extensive damage. That incident followed rapidly on the grounding of the car carrier HUAL Europe, with an estimated insured value of over $50-million, in Tokyo Bay, off Yokohama, on October 1. Other major casualties include Jolly Rubino, the Hidir Bay, HUAL Troubadour, Treasure Bay, Alva Star and Limberg. Anteon Awarded $40M Ship's System Support Contract Anteon International Corporation announced that Supervi- sor of Shipbuilding (SUPSHIP), Portsmouth, Va., has award- ed Anteon with a five-year contract with an estimated value of $40 million. Anteon will provide rapid response systems engineering and integration support for major ship compo- nents onboard military vessels. KMSS Training/Simulation Division Is Buoyant Kongsberg Maritime Ship Systems (KMSS) has announced a buoyant period for its training and simulation division. They have recently received contracts from the Canadian Coast Guard College, the Navy Academy in Taiwan and the AMA Computer College in the Philippines. KMSS has also opened a new training center on its site in Horten, Norway. The revolutionary new distance learning system known as maritime.e-campus.com has just been adopted by the Canadi- an Coast Guard College, which works as an education portal, giving students the opportunity to train from home and even on board ship. KMSS has also recently been contracted to supply simula- tor systems to the Navy Academy in Kaohsiung, Taiwan. The system comprises of an instructor station and four student workstations. Known as the Codog MTU/LM2500 Frigate - C042, this system is the most advanced Navy model ever developed, and replaces an already existing system installed by KMSS in 1996. With installation and training of personnel occurring this past September, October sees KMSS installing Polaris Panorama Desktop Simulators, complete with visuals at the AMA Computer College, Quezon City, the Philippines, dur- ing October. In Norway, KMSS has also established a product training center at its main site in Horten. This center offers courses on most KMSS products including the Maritime Black Box, Navigation, Machinery Control, Propulsion Control and Bridge and Engine/Cargo simulators. Circle 358 on Reader Service Card or visit www.maritimereporterinfo.com 34 -— ^ AMESTOWN ElSffi Engineers Contractors • Manufacturers • Jamestown Metal Marine Sales, Inc. 4710 N.W. 2nd Avenue, Suite 400, Boca Raton, Florida 33431 Ph: (561) 994-3900 • Fax: (561) 994-3969 www.jamestownmetal.com 1 Plumbing Fixtures • Sheathing • Stairs & Railings • Handrails 'Trims & Moldings • Curtains & Fabrics • Stateroom Furniture • Contractors • Manufacturers • Engineers • Quality Interiors • Turnkey Deck Houses & Crew Modules • Steel Fabrication and Erection Circle 266 on Reader Service Card or visit www.maritimereporterinfo.com Maritime Reporter & Engineering News
