Page 4: of Maritime Reporter Magazine (July 1992)

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A small business manufacturing in the United States for over 120 years

Circle 259 on Reader Service Card

Danish Merchant Fleet

Undergoes Major Expansion

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New ship deliveries and the re- turn of several vessels to Denmark's international ship register expanded the size of the Danish-flag merchant fleet by 43 vessels last year to 603 ships of 7.9 million dwt, according to the Danish Shipowners Association.

Tankers accounted for more than half of the fleet, with another 30 percent employed in the container and ferry trade. Denmark operates the world's 6th largest container fleet.

Denmark's shipyards have al- most 100 ships worth $3.2 billion on order from Danish shipowners.

Circle 263 on Reader Service Card Maritime Reporter/Engineering News

Finnyards Close To $40 Million Ferry Deal

Finnyards, of Rauma, Finland, has received a letter of intent from the Danish shipowner A/S Progress for the construction of a $40 million high speed ferry.

Likely to soon become a firm or- der, the proposed new diesel-pow- ered monohull design will be ca- pable of carrying 700 passengers and 600 cars at a speed of approxi- mately 30 knots.

Progress intends to use the ferry on its service between Mandal, Nor- way, and Hanstholm, Denmark.

Once the letter of intent becomes a firm order, Finnyards has stated that the vessel could be delivered by spring 1994.

Subic Bay Conversion

To Commercial Port Would

Cost $300 To $500 Million

A plan to finance a conversion of the U.S. naval base at Subic Bay,

Philippines, to a commercial port has been agreed to in principal by the World Bank.

Being centrally located in South- east Asia, the deep water natural harbor of Subic Bay is considered to be a prime regional ship repair and commercial port area.

An estimated $450,000 in initial technical assistance would be granted by the World Bank, accord- ing to Mr. Rogelio Singson, ex- ecutive director of the Coordinating

Council on the Philippine Assistance

Program, with several million dol- lars of additional soft loans being made available once the plan is com- pleted. It has been estimated by project analysts that the final fi- nancing package could be worth from $300 million to $500 million.

Significant investors in the project include: Keppel Corp., of Singapore;

Hong Kong's Hopewell Holdings

Ltd.; and Kawasaki Heavy Indus- tries Ltd., of Japan.

Galveston To Link

U.S. And Mexico In New

Joint Rail/Barge Venture 'STAY AND SAVE


Quality Products

Delivered On Time

At the Lowest Achievable Cost

Mexico City-based Protexa

Burlington International SA de CV (PBI), a new joint venture between the U.S. railway operator Burlington

Northern (BN), Inc., and Grupo

Protexa SA de CV, a Mexican con- struction and marine services firm in Monterrey, recently made an ex- clusive agreement with the Port of

Galveston that establishes the port as the U.S. connection in a planned rail-barge trade link with Mexico.

Galveston was chosen by BN offi- cials to be the rail-barge project's port because of its proximity to open water, a factor that will reduce tran- sit time, and easy rail access.

Under the agreement BN trains will connect at the port with Protexa rail barges bound for the eastern

Mexico ports of Altamira, Veracruz and Coatzacoalcos. From there,

Mexico's national railway systems,

Ferrocarriles Nacionales de Mexico will distribute the cars inland.

In the early stages of the project, two PBI barges carrying 54 railcars each will make the run weekly, with the average Gulf transit time being 3-1/2 to 4 days. While the initial cargoes will be grain, PBI foresees automobiles, auto parts, chemicals and consumer goods soon following.

Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.