At Anchor Technology News

The Norwegian Coastal Administration (Kystverket) has signed a contract with Miko Marine AS to become the first national agency to purchase the ShipArrestor system. The two packages ordered are due for delivery this summer and feature sea anchors that can be deployed on ships by helicopter. The systems will help protect Norway’s coastline against the pollution and other hazards caused when ships lose engine power and drift before running aground. By dramatically slowing the ship’s rate of drift, the ShipArrestor creates more time in which it can be reached by a rescue tug.

What About Cuba? Political allegiance notwithstanding, continuing unrest and war in the energy critical Middle East continues to wreak havoc with world oil prices, with consumers around the world struggling to keep up with fast escalating gasoline prices. While (at press time) the benchmark prices for a barrel of crude have settled just under $40, the situation has spurred new exploration and production ventures, one such speculation in the Gulf of Mexico off of Cuba. According to a recent report in The Economist (June 5, 2004 edition, page 48), Spain's Repsol has moved into position a Deep Water drilling rig off of the country's northwest coast with the intention of drilling two wildcat wells in what could amount to a successful attempt to energize a failing economy.

Friede Goldman Halter, Inc. (FGH) announced the appointment of Robert L. Champagne, CPA, as its Executive Vice President and CFO. Champagne has been employed with KPMG for 28 years, 18 of which he served as a partner in the firm. In addition to Mr. Champagne's appointment, Chuck DeCuir has been appointed Senior Vice President, Contracts, Legal Affairs and Risk Management, of Friede Goldman Halter, Inc. "Since becoming CEO, I have made it a major focus to strengthen the financial and Corporate Risk Management areas of the Company. Bobs 18 years of partnership experience, working with a number of publicly held companies, gives us solid financial leadership.