News Briefs
Nichols Brothers Boatbuilders are building a highspeed catamaran ferry for San Francisco's Golden Gate Bridge, Highway and Transportation district. Designed by International Catamaran Designs (INCAT) of Sydney Australia, this will be Nichols Brothers 27th U.S. built highspeed catamaran. The vessel will be 139 ft. overall with a 34-ft. beam and draft of 9 ft. The individual hulls will have a beam of 9 ft.. A 37-knot speed is predicted with four 16-cylinder Cummins KTA50-M2 main engines delivering 1,600 hp each at 1800 rpm. Each IMO emission certified engine will drive a Hamilton model 571 water jet through a ZF Marine BU 460D marine gear. Electrical service will be provided by a 125 kW generator set powered by a Cummins Marine 6CT8.3DM engine.
Dead in the Water
Financial conditions at troubled Premier Cruise Line have obviously worsened, as the company is effectively out of business following the seizure of its five ships. In the process, thousands of vacationers have been left stranded. On Thursday U.S. investment bank Donaldson Lufkin & Jenrette seized the company's Big Red Boats and other ships. Premier chief executive Bruce Nierenberg said DLJ held mortgages on five Premier ships, that the company was behind on debt payments, and DLJ had taken control of the ships with an eye to selling them in order to recover $49 million in debts. A spokeswoman for DLJ, which controls a reported 80 percent of Premier after restructuring $180 million of debt…
