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The Shipbuilding Report Is it Time to Hit the Panic Button? Panic buying is putting further pres- sure on future steel supplies as prices continue to spiral. Reports indicate a substantial leap in hot rolled steel plate prices during March and further signifi- cant increases, not yet quantified, through April. According to MEPS, a UK-based steel industry analyst, its Asian hot rolled plate index rose by almost 14% during March. Further increases are inevitable in the second quarter as steel producers wrestle with roaring demand and increasingly tight raw material supplies. It is a Catch 22: spiraling steel consumption is generat- ing unprecedented demand for iron ore and coal which, in turn, is fueling ocean freight rates and leading to congestion, port delays and pressure on landward distribution systems. Higher raw materi- al prices filter through directly to steel prices which, in turn, lead to panic buy- ing and stockpiling. Analysts are not expecting any let-up in the second or third quarter. New VLCC Company Mitsui OSK Lines has teamed with Emirates Trading Agency LLC, Dubai (ETA) to establish a joint venture com- pany providing operating services for very large crude carriers (VLCCs). New LNG Terminal for Port Arthur, Texas Sempra Energy LNG announced plans to develop and construct a new $600 million LNG receiving terminal near Port Arthur, Texas, capable of process- ing 1.5 billion cu. ft. (Bcf) of natural gas per day. The facility would be construct- ed on part of a 3,000-acre parcel of land along the Port Arthur Ship Canal. The announcement coincides with a pre-fil- ing notification the company submitted to the Federal Energy Regulatory Commission (FERC). This notification begins the process of securing the required FERC approval for Sempra Energy LNG's third state-of-the-art receiving terminal. The Port Arthur LNG project is expected to begin oper- ating in 2009. ACL Makes Changes American Commercial Lines (ACL) announced that Stephen A. Frasher stepped down as President and CEO effective April 30, 2004. Richard L. Huber assumed the position of CEO of ACL. W. Norb Whitlock will become President and COO of American Commercial Barge Line LLC, Louisiana Dock Company LLC and American Commercial Terminals LLC and will join the ACL Board of Managers. VT Halter Launches LSV VT Halter Marine Inc., a subsidiary of Vision Technologies Systems Inc., launched the US Army Tank-automotive and Armament Command's (TACOM) newest Logistic Support Vessel (LSV) the MG Robert Smalls. Valued at approximately $25 m, the LSV-8 has an overall length of 313 ft., a beam of 60 ft. and a molded depth of 19 ft. Designed and built to carry over 2,000 tons of deck cargo, that could include combat vehicles or armament cargo, the vessel is capable of support- ing logistic efforts worldwide. This is the first Army ship named after an African American and a Civil War hero. SAAB AIS WORLD LEADER IN AIS SOLUTIONS The safest, quickest and most economical way to IMO & FCC compliance lr £ |p 1 World-Wide service and support 1 Unique quality and performance Proven user friendliness Has all type approvals WE JUST MADE OUR N0.1 POSITION EVEN SAFER The Hammar H20 is a hydrosta- tic release unit, that enables liferafts and EPIRBs to surface and inflate or activate when a ship is sinking. The H20 is the world market leader and has more approvals from shipping authorities than any other ** release unit. The new Hammar ^ H20 has a Red W ' Weak Link" - but there is nothing weak about it A brand new Hammar H20 with the Red ' Weak Link™ connector makes the installation j The new Hammar H20 has a 3-step coupling device that, by eliminating the risk of incorrect installation, makes it even safer. easier and safer. A new black thimble The new Hammar H20 has a black thimble marked DECK which makes it easier to install. No service or maintenance The Hammar H20 never corrode and doesn't need service or maintenance for two years. The Hammar H20 fits Liferafts and EPIRBs of all shapes and sizes. HAMMAR BETTER SOLUTIONS FOR SAFETY AT SEA ORDER THE NEW H20 TODAY! Visit our website at www.cmhammar.com for more information Available in U.S. from: Datrex Inc. P.O. Box 1150. Kinder, LA 70648. Phone 800-828-11 31 or 337-738-4511, Fax 337-738-5675. datrex@datrex.com Circle 210 on Reader Service Card Circle 252 on Reader Service Card
