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Hornbeck. the company's President and CEO, said, "Throughout the third quar- ter we have seen consistent strengthen- ing in our OSV segment. As our cus- tomers devote increasingly more capital to drilling opportunities in the Gulf of Mexico, we are seeing demand for our new generation OSVs starting to out- pace supply, which has led to full practi- cal utilization and higher dayrates." LR Wins LNG Deal Lloyd's Register has won the classifi- cation contract for four 155,000 cu.-m. Technigaz Mk 111 membrane-type LNG carriers, ordered by BP Shipping at Hyundai Heavy Industries (HHI) with a further four options. These ships are the largest LNG carriers ordered to date. The ships are also noteworthy in that they will have dual fuel diesel electric propulsion and will be the first LNG ships with this type of propulsion to be built in Korea. The last of the first four ships will be built at Hyundai's Samho yard, representing this particular yard's first LNG carrier. The BP ships are intended for trade in the Atlantic basin and will serve, among others, Trinidad and Tobago's Atlantic LNG project, the UK, the US and Spain. Circle 25 on Reader Service Card GLOBAL REACH GE for Korean Destroyers GE Transportation's marine gas tur- bine operations will supply Samsung Techwin Co. Ltd. with 12 LM2500 aeroderivative gas turbines. The Republic of Korea (ROK) Navy will use the gas turbines for its next-generation KDX Type III destroyer. Hyundai or Daewoo Shipyards in Korea are build- ing a total of three KDX Type III destroyers, each of which weigh more than 7,000 tons. The vessels will be equipped with AEGIS combat systems. Each will use four LM2500 gas turbines rated at 30,000 shp for total propulsion system output of 120,000 shp. Circle 32 on Reader Service Card ShipNet Expands ShipNet is embarking on an aggres- sive expansion strategy to establish and develop regional branch offices world- wide. Branch offices are subsidiaries of one of the three ShipNet companies (ShipNet AS, ShipNet USA, ShipNet Asia). The intention is to enable higher levels of proactive Account Management, Customer Support and the provision of local Consultancy Services. The first two of these offices will be established in Athens and London. The branch office in Athens will be fully operational by the end of Q2 2005. In London, the office will be operational on Account Management during Q1 and fully operational by the end of 2005. Circle 26 on Reader Service Card Vietnam Signs On A Licence and Cooperation Agreement was signed by Vietnam Shipbuilding Industry Corporation (Vinashin) and MAN B&W Diesel A/S, Denmark. The new agreement, which was signed by Vinashin Chairman & CEO Pham Thanh Binh and MAN B&W Executive Vice President Dr. Peter Sunn Pedersen at a ceremony in Hanoi, will provide Vinashin with tech- nology and support for the production of MAN B&W two-stroke diesel engines for the growing Vietnamese shipbuild- ing industry. Circle 23 on Reader Service Card Hornbeck 3Q Results Hornbeck Offshore Services, Inc. announced third quarter revenues increased 16.7% to $32.9 million com- pared to $28.2 million for the third quar- ter of 2003. Of the $4.7 million increase, $1 million was due to an increase in the average number of vessels in the compa- ny's offshore supply vessel fleet from 19.9 in the third quarter 2003 to 23 in the third quarter of 2004, and $3.7 mil- lion was due to an increase in demand for the company's vessels. Todd Setting Standards of Excellence in Marine Classification C-; ABS www.eagle.org December 2004 Circle 215 on Reader Service Card 13
