FGH Finalizes $82 Million in New Contracts

Friede Goldman Halter, Inc. (FGH) finalized contracts totaling $82 million. The contracts call for the construction of a $70 million cargo vessel and the design and construction of 22 shipboard cargo cranes. Halter Marine, Inc., the vessel construction division of FGH, will build a $70 million car carrier for Pasha Hawaii Transport Lines. The 579-ft. Pure Truck Car Carrier will transport more than 4,000 automobiles between destinations on the Pacific coast. Delivery is slated for Spring 2002 with construction taking place at Halter's Pascagoula, Miss., shipyard Pasha Hawaii Transport Lines is a joint venture between The Pasha Group and Van Ommeren Shipping USA, which will operate the vessel. The ship's Jones Act compliance will enable it to operate between U.S. West Coast ports and Hawaii as well as serve foreign ports. The vessel design is proven, as two have already been delivered by a European shipyard with three additional vessels under construction. "This contract is an important win for Halter Marine," said Richard T. McCreary, president of Halter Marine. "A vessel contract of this magnitude is an impressive assignment, and we are very pleased that Pasha and Van Ommeren have selected Halter. This is a fine example of the complex shipbuilding projects that are the focus of Halter Marine's experience and marketing efforts. With our recent consolidation of shipbuilding yards and a strengthening marketplace, it is our strategy to build more vessels of this size in the coming years." Another Friede Goldman Halter subsidiary, Brissonneau & Lotz Marine (BLM) of Nantes, France, announced finalization of two contracts to design and build a total of 22 cargo-handling cranes with a total value of approximately $12 million. One order is for 18 all-electric 45-ton cranes that will be installed on container ships under construction in China, and the second order is for four 30-ton electro-hydraulic cranes to be installed on ships under construction in Russia. BLM, which is part of the FGH Engineered Products Group, has had success in the non-energy segments with its cargo cranes and its popular line of deck machinery for the cruiseship industry.