Brazillian Yard Preps To Ride Offshore Wave
As ship and boatyards in the Gulf of Mexico eagerly await 'Offshore Boom 2001,' it might behoove them to look at activities transpiring outside of their own backyard, as the business of building offshore rigs and vessels has truly become a global bonanza. For example, down south, way down south in Brazil, FELS Setal SA has become that country's preferred shipyard for offshore and marine services on account of its quality workmanship and on-time deliveries, after just one year of its formation. The 60/40 joint venture company between Keppel FELS Energy & Infrastructure Ltd. (Keppel FELS) of Singapore and the PEM Setal Group of Brazil has won a total of $120 million worth of contracts in this short time.
PVA:The Return of the American Queen
In late October 2001, three of America's six steam-driven paddlewheelers were suddenly tied up due to bankruptcy of the parent company, American Classic Voyages, and facing a very uncertain future. The management failures and cost excesses of the past owners that caused the company failure have been well documented and need not be recounted. What is important is that out of the ashes of American Classic Voyages has come the Delta Queen Steamboat Company. It is back on America's rivers and moving forward with a full head of steam. Purchased last May by Delaware North Companies of Buffalo, NY for $80 million, the new company is "well positioned to resume it place as the premier provider of inland river vacations," said Tom Carmen, president of the new company.
