Central Union of Marine Underwriters
Insurers Lose $3B
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.
Hvide, which provides marine support and transportation services, said Fitzgerald will be out of the office for at least four to six weeks.
During his absence, president and COO Eugene Sweeney will assume responsibility for day-to-day operations, and board member James Gaffney will serve as interim chairman.
Bender Shipbuilding & Repair
Bender Adds Pinkham To Sales Team
Bender Shipbuilding & Repair has named Michael Pinkham to its sales and marketing team. Pinkham, who has 23 years of experience in the marine and shipyard industry, will be responsible for solicitation and coordination of international inquiries, as well as calling on domestic accounts.
Opens New Warehouse
MAN B&W's new warehouse is comprised of a high bay storage (26 m) with 13,000 locations served by five stacker cranes. Located in front of the high bay storage area is a conveyor system, including stations for the receiving of incoming goods and for the picking and packing of customer orders. The 3,000 sq. m facility is controlled by an integrated computer system utilizing bar code facilities.
Marquette Expands Fleet
Marquette Transportation, Paducah, Ky., has added a pair of 8,000-hp vessels to its inland waterways towing operation.
Currently being built at Quality Shipyard in Houma, La., the 180 ft. (54.9 m) sisterships of John Paul Eckstein were designed by CT Marine, Rowayton, Conn. Named Kay A. Eckstein and Ray A. Eckstein, the vessels will begin operation this month and in August, respectively. Powered by twin CAT 3612 marine engines, each rated at 4,000-bhp at 900-rpm, driving Bollinger propellers, the new vessels' propulsion package will be identical to John Paul Eckstein, except for one new addition - EvenFlow Struts. Mounted forward of the nozzles, the struts will smooth the flow of water into the propellers, increasing thrust and reducing chances of cavitation. Auxiliary power will be provided by two CAT 3306B gensets, each rated 165 ekW at 1,800-rpm.
Friede Goldman Halter
Friede Goldman Appoints Two
Friede Goldman Halter (FGH) has elected John F. Alford as president and COO. Alford, who previously served as FGH vice president with responsibility for business development, joined Friede Goldman Intl. in 1996 following a career in banking. Richard T. McCreary assumes the role of group president, Halter Marine
. McCreary was previously the company's senior vice president, administration and managed the company's vessel repair business. McCreary joined Halter in 1997 after a 20-year career in the marine shipping industry.
Autoship Systems Corp.
Autoship Releases New Version
Autoship Systems Corp. has introduced Release 8 of its Autoship hull design program. The software release, which includes supporting documentation, a new on-line help system and new user's manual, also boasts Library of Parts marine equipment that will enable the user to quickly finish a detailed model of the fully outfitted vessel.
With editable trimmed surfaces, real time hydrostatics and concurrent multiple vertex control, the Autoship program series was the premiere PC program to feature a GUI. The company has also begun to ship Autoyacht 8 - its new hull design program geared toward yacht designers. The new program allows designers to export ship models to the Offshore Racing Council International Measurement Systems Velocity Prediction Program (IMS VPP), so that they can check their vessel design's sailing speed both quickly and easily.
United Technologies Corp.
UTC And Carrier Acquire Electrolux
United Technologies Corp. (UTC) and its Carrier Corp. subsidiary have attained Electrolux Commercial Refrigeration from Electrolux Group for approximately $145 million. A global supplier of refrigeration equipment for commercial customers within the supermarket, food and beverage markets, Electrolux Commercial Refrigeration will be integrated into Carrier's Commercial Refrigeration Operations Unit. With 2,300 employees, Electrolux Commercial estimates its 1998 sales at more than $300 million.
Honored at National Space Symposium
Sea Launch last week received the General James E. Hill Space Achievement Award "for outstanding demonstration of the possibilities for international, commercial collaboration in the post-Cold War space industry.''
Sea Launch held its inaugural demonstration launch on March 27, 1999, and an equally successful first commercial launch of the DIRECTV 1-R broadcast satellite on Oct. 9.