MarAd Offering Tankers for Sale; Issue Ruling

Wednesday, August 18, 1999
The Maritime Administration (MarAd) has two tankers up for sale, for the limited purpose of their reconstruction for sale or charter to a North Atlantic Treaty Organization (NATO) country for use as oilers. Both vessels, Henry Eckford and Benjamin Isherwood, are located at the James River Reserve Fleet, Fort Eustis, Va. MarAd also issued a ruling denying Apex Marine Ship Management Company's request for confirmation. The ruling states upon properly being document under the U.S.-flag, an existing foreign-built vessel may be qualified immediate participation in the U.S.-Israel grain trade consistent with the terms of a 1998 Side Letter issued by the Israeli Government. Liberty Maritime Corporation opposed the request. In addition, Park Place New Orleans of Las Vegas, Nev. has requested to sell passenger vessel Queen of New Orleans to Canadian Riverboat Enterprises, Ltd.

Legal

Vallianz Rejects Payment Request from Swiber Managers

Vallianz Holdings, which provides support vessels for the oil industry, said on Wednesday it had refused a request from the judicial managers of shareholder Swiber Holdings to pay around $63.

Hyundai Merchant Marine to buy Hanjin's 'Good' Assets

South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.

Hanjin files for Receivership, Ports Turn Away Vessels

Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court

 
 
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