Who's News
The world's marine insurers collectively lost $3 billion in 1999, Norway's Central Union of Marine Underwriters (CEFOR) said. Cefor's calculation uses the collective experience of marine insurers in Norway - one of the world's major marine insurance markets - and extrapolates the results to the global industry. Cefor's md said that not even in their previous worst case estimates did CEFOR anticipate anything like this. The principal reason for the losses is continuing reduction in insurance premium rates, said Formso. On CEFOR's current estimates, rates in 2000 have dropped to 31 per cent of their 1994 levels. Hvide Marine Inc. Hvide Marine Inc. said last Monday that chairman and CEO Jean Fitzgerald has been hospitalized with a heart condition and was to undergo surgery.
Bender Promotes Pinkham
Bender Shipbuilding & Repair Co. Inc. and Tampa Bay Shipbuilding & Repair Company have promoted Michael Pinkham to Ship Repair Sales Manager for both the Mobile and Tampa yards. The Sales and Marketing Departments of both companies have been combined to more efficiently and economically service customer accounts. Pinkham brings his many years of ship repair sales, production and estimating experience to this position. He will be responsible for coordinating the efforts of Sales currently working for both yards in the domestic market, as well as coordinating opportunities from the international markets.