Hvide New President of NSA
The annual General Assembly of The Norwegian Shipowners’ Association has today elected shipowner Johan G. Hvide, Seatrans DA in Bergen, as President for a two years period. Mr. Hvide was unanimously proposed and was elected by acclamation. Elisabeth Grieg from Grieg International AS in Oslo and Trygve Seglem from Knutsen OAS Shipping AS in Haugesund were elected Vice Presidents. President: Johan G. Kjell E.
PIANC Accepting Entries for 2002 Award Competition
The International Navigation Association (PIANC) hosts an annual competition for the International Gustave Willems Award, which was established as a memorial to Professor Willems, president of PIANC from 1956-1982. The award is given for the most outstanding technical paper prepared on design, construction, improvement, maintenance or operation of inland and maritime waterways or ports, environmental subjects and coastal areas. The competition is open to anyone 35 years of age or under and the awards are a $1,000 Savings Bond; expense-paid trip to the U.S. Section, PIANC annual meeting and a five-year free membership in PIANC. The winner of the U.S. Section prize will be included in the international competition.
Minoan Lines To Propose Three-For-One Issue
Greek passenger shipping firm Minoan Lines' board will propose a one-for-three bonus share issue to shareholders at its upcoming annual general assembly. The bonus shares will arise from capitalization of around $52.4 million out of a total $198.1 million share premium reserve, company officials said. The board will also propose the distribution of a 100 drachma ($.29) dividend per share for fiscal 1999, a total of 5.3 billion drachmas ($15.4 million), which is around 13 percent higher than the total 1998 dividend.
