DAILY COLLECTION OF MARITIME PRESS CLIPPINGS

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1 Number 191** COLLECTION OF MARITIME PRESS CLIPPINGS ***Thursday THIS EDITION IS BROUGHT TO YOU BY : VLIERODAM WIRE ROPES Ltd. wire ropes, chains, hooks, shackles, webbing slings, lifting beams, crane blocks, turnbuckles etc. Binnenbaan VB RHOON The Netherlands Telephone: (+31) (+31) (a.o.h.) Fax : (+31) Internet & info@vlierodam.nl After many years service transporting nuclear cargo over the worlds oceans the last days of the PACIFIC SWAN are counted for, here the vessel is seen getting scrapped at the Hollandsche Scheepssloperijen at s Gravendeel (The Netherlands) Photo : Richard van der Werf PSi-Daily maritime press clippings Page 1 8/24/2005

2 Save the ELBE Giro rekening No Att : Piet Sinke - Stationsweg HR Hoek van Holland The score until today : Euro EVENTS, INCIDENTS & OPERATIONS The latest addition for the Bugsier fleet, the BUGSIER 1 built at the K.Damen yard in Hardinxveld is seen here moored along the Mammoet quay in Schiedam ready for her first dancing steps Photo : Hans Hoffmann Ocean Gamblers Left Out At Sea About 90 passengers were forced to spend Monday night on the Ocean Jewel gambling boat after the boat's shuttle had engine problems. Some people may have been on the casino boat, which is in international waters, since 2 p.m. Monday, said Dennis Shepard, the chief executive of the company that operates the boat and shuttles. The company, St. Petersburg- based Titan Cruise Lines, got a spare shuttle to take passengers off the ship at 11 a.m. today, 15 hours after the first shuttle broke down. The company took passengers to the port of St. Petersburg and then bussed them to John's Pass, where they originally embarked. Shepard said they're trying to determine whether the casino boat will be operational today because both of the company's regular shuttles are out of commission. Titan Cruise Lines filed for Chapter 11 bankruptcy protection Aug. 1. The privately held company, controlled by a group of Midwestern investors, is in the midst of trying to restructure in a bid to keep the company in business. PSi-Daily maritime press clippings Page 2 8/24/2005

3 Sail 2005 is 'bijzonder goed' verlopen De organisatie van Sail kan opgelucht ademhalen. De afgelopen dagen trok het nautisch evenement in de Amsterdamse IJ-haven een massaal publiek. Dagelijks kwamen honderdduizenden mensen naar de hoofdstad om maar niets te missen van de vele indrukwekkende schepen. Ook zondag was het weer dringen op de kades. De politie telde mensen. Zaterdag trok het evenement ongeveer evenveel belangstellenden. In totaal kwam de teller de afgelopen dagen op bijna 2,4 miljoen bezoekers, ongeveer evenveel als het recordaantal in Voor de organisatie een pak van het hart, want zoals ze had gehoopt, hebben de berichten over eventuele terreuraanslagen op Sail het publiek niet afgeschrikt. Ook zondag was het weer dringen op de kades. De politie telde tot uur bezoekers. Zaterdag trok het evenement eveneens een enorme stroom mensen. De politie telde toen belangstellenden. Voor de organisatie een pak van het hart, want zoals ze had gehoopt, hebben de berichten over eventuele terreuraanslagen op Sail het publiek niet afgeschrikt. De enorme beveiliging en grote politie-inzet, zowel op het terrein als op het water, hebben gezorgd voor een bijna vlekkeloos evenement. Behalve een aanvaring op de eerste dag tussen een binnenvaartschip en een partyboot, waarbij tien lichtgewonden vielen en de dood van een 31-jarige Rotterdammer die donderdag uitgleed op een ponton en in het water terecht kwam, deden zich geen grote incidenten voor. Opvallend was de veelvuldige aanwezigheid van de koninklijke familie. Prins Willem-Alexander bracht veel tijd door op het evenement. Hij nam zondag de vlootschouw af vanaf De Groene Draeck, het zeilschip van zijn moeder. Koningin Beatrix was ook aan boord, samen met Pieter van Vollenhoven. De vorstin bezocht Sail zaterdag al om de catamaran De Beatrix te dopen, een zeilschip voor gehandicapten. Het Prinses Beatrix Spierziekten Fonds bood haar dit als nationaal geschenk vanwege het 25-jarig regeringsjubileum aan. Maandag kwam officieel een einde aan het nautisch evenement. In de ochtend vertrokken alle deelnemende schepen richting IJmuiden, waarvandaan ze weer huiswaarts of naar een nieuwe bestemming keerden. De Shabab of Oman en de Khersones uit de Oekraïne verlieten de Amsterdamse haven zondag al omdat ze anders niet op tijd zouden komen voor hun verplichtingen elders. Veerboot ligt een hele dag vast op zandplaat De vrachtveerboot Noord-Nederland van Rederij Doeksen heeft zaterdag de hele dag vastgezeten op een zandplaat, vlakbij Terschelling. Het schip raakte bij de stranding niet beschadigd, zegt H. Eeltink, hoofd operationele zaken van Doeksen.,,De Noord-Nederland was zaterdagochtend om half twaalf onderweg van Terschelling naar Vlieland. Tussen de boeien Schuitengat 10 en 12 bleek dat een zandplaat de vaargeul ingegroeid was. Daar is het schip op vastgelopen. De bemanning van de catamaran probeerde eerst zelf los te komen. Daarna werd nog even de hulp van een sleepboot ingeroepen, maar die kon het schip ook niet vlot krijgen.,,we hebben geen brute kracht gebruikt, want we wilden geen schade, zegt Eeltink.,,Al vrij snel hebben we besloten om rustig te wachten op het nieuwe hoogwater. Er stonden zaterdag verder toch geen overtochten gepland voor de Noord-Nederland. Om half elf s avonds stond het water hoog genoeg om weg te komen. De Noord-Nederland is naar Harlingen gevaren, en heeft gisterochtend alsnog de vracht voor Vlieland afgeleverd.,,er was gelukkig geen bederfelijke waar aan boord, zegt Eeltink Arriving in Toronto, ferry hits gangway PSi-Daily maritime press clippings Page 3 8/24/2005

4 Three windows broken, but no one is injured; trainee blamed Rochester's high-speed ferry hit the gangway in Toronto Sunday night hard enough to break some windows on the ship. The Spirit of Ontario, nicknamed The Cat, crashed into the gangway while docking about 6 p.m., said Don Cormier, vice president of operations and safety for ship operator Bay Ferries Great Lakes. "There was relatively minor window damage," Cormier said around 7 p.m. "It is being repaired as we speak." There were no injuries and no damage to the shore infrastructure, he said. At the time of the accident, "the vessel was under the control of one of our masters in training," he said. "He was being supervised by the master." "I speculate human error is the cause," said Cormier. He said he was unable to provide more details Sunday. Cormier said instruction of the master in training is an "ongoing process." The masters in training all received some preparation before the ferry started, Cormier said. "The master of the vessel is still fully responsible," he said. Robert Zack, 28, of Rochester, who saw the accident, said the ferry came into the dock "at a much too high rate of speed" and crashed into the gangway protruding from the terminal building. The gangway smashed three windows and scraped the side of the ship, he said. Zack took the ferry to Toronto last week to catch a flight from the Toronto airport. He was scheduled to return by ferry to Rochester Sunday night. Sunday's voyage on the ferry will likely be Zack's last, he said. Although he thinks the ship is beautiful, he said the service is lacking and he "probably won't use it again." The ferry was scheduled to leave Toronto for Rochester Sunday night at 7 p.m., but left around 8:30 p.m., Zack said. Ferry operators offered free food to passengers on the return trip. Cormier said the ferry would sail today as scheduled. The ferry has had previous mishaps. On its way from Australia to Rochester, the ship struck a pier in Manhattan while docking in April The 25-foot-long gash was later repaired, but contributed to a delay in launching of the ferry service. In May, the ship slipped off blocks in a dry dock near St. Catharine's, Ontario. The accident did not damage the boat. Since arriving in Rochester, the ship also had engine problems and problems with software for the propulsion system. Those have been repaired. The city bought the vessel for $32 million in February at a federal foreclosure auction and relaunched service between Rochester and Toronto in June Thailand plans to set up national shipping fleet The Thai government is planning to set up a national shipping fleet with private Thai shipowners taking a 70 per cent stake, in an attempt to reduce Thailand's dependence on foreign shipping companies. Deputy Transport Minister Phumthan Wechayachai said Thai shipping companies, the Marine Department and the state-owned Thai Maritime Navigation Co were involved in discussions on the proposal which should be completed this month. 'These bodies have to come up with recommendations on how the government should help to materialise the plan,' he was quoted as saying by Thai media. 'Our objective is to create a Thai fleet to reduce dependence on foreign shipping companies,' he said. PSi-Daily maritime press clippings Page 4 8/24/2005

5 Despite booming trade fuelling an increase in imports and exports, Thailand has only a handful of shipping companies of its own, and this is causing a major loss of foreign exchange income, according to the government. A national fleet would offset some of the losses at a time when Thailand was suffering a high current account deficit, commented the Nation newspaper. Thailand's current account deficit swelled by US$1.54 billion in June, to US$6.21 billion for the first half of 2005, due to costly oil imports and sluggish agriculture exports. According to proposals being studied, 23 members of the Thai Shipowners' Association will equally hold a combined 70 per cent stake in a new national shipping company, with the balance of the equity being taken up by the state-owned Thai Maritime Navigation (TMN). Last week, the shipowners agreed to join the Ministry of Transport in setting up the venture and signed a memorandum of understanding to endorse the decision. The joint venture would require an investment of 700 million baht (S$28 million), with the ship operators investing 500 million baht and TMN the rest. The Thai government proposes to split its Marine Department into two, with one half overseeing the commercial shipping business and the other in charge of general offshore transportation activities, according to the media reports. The Bangkok Post quoted Thai Shipowners' Association secretary-general Chanet Phenjati as saying that the new venture would deploy tankers with a minimum capacity of 100,000 tonnes which are now owned by the private sector to transport crude oil from the Middle East. The state does not own any vessels but through TMN it has a virtual monopoly on transporting goods for state agencies at above-market prices.however, in the proposals, the government is prepared to let the private sector take a major role in the new venture. Thai Shipowners' Association chairman Sumate Tanthuwanit said that he was confident in the business potential of the new venture, given the renewed support of the government. The scheme is part of the government's US$41 billion package of major infrastructure projects which are to be developed over the next five years, said the Nation. Plans to set up a national fleet have been floated for the past two decades, but most have been scuttled by disagreements over the extent of private-sector ownership and control, according to a report in the Bangkok Post. The new plan is expected to be finalised by this month after which approvals would be sought from the Finance Ministry and the Cabinet. Cruiseship fire extinguished Top : The COSTA CLASSICA moored in Piraeus Photo : Piet Sinke All passengers and crew on board the 53,000 gt Costa Classica (built 1991), owned by Costa Cruises, were safe following a small blaze in the ship s stern off Greece whilst enroute from Ancona to Piraeus. The fire was extinguished on Wednesday morning near the island of Poros, south of Athens. PSi-Daily maritime press clippings Page 5 8/24/2005

6 All of the 1,585 passengers and 583 crew are safe and well, and the ship is now sailing for Piraeus accompanied by coastguard vessels, a helicopter, a navy frigate and one navy aeroplane, a Greek merchant marine ministry spokesperson told Reuters. A probe will begin in Piraeus into the cause of the incident. CASUALTY REPORT The 1992 built TORM ALEXANDRA which was enroute from Abidjan to Freetown capsized in the port of Monrovia (Liberia) July 25 th 2001 and the wreck is still laying there today as can be seen at the picture below Photo s : via Hans Meijer Delmas NAVY NEWS Al-Qaeda says it attacked US ships AL-QAEDA in Iraq has claimed responsibility for the weekend rocket attack that narrowly missed United States warships in the Jordanian Red Sea port city of Aqaba. PSi-Daily maritime press clippings Page 6 8/24/2005

7 Jordan said it had arrested a Syrian, one of four men allegedly involved in the attack. The other three, the captured man's two sons and an Iraqi man, were believed to have escaped to Iraq. The Jordanian announcement said the four were part of an Iraqi-based terrorist organisation, which the government did not identify. However, Al-Qaeda in Iraq, led by the Jordanian terrorist Abu Musab al- Zarqawi, was the second group to claim responsibility for the rocket attack, in a statement signed by its spokesman, Abu Maysara al-iraqi. The first claim was issued by the Abdullah Azzam Brigades shortly after the Katyusha rockets were fired from a hilltop warehouse, overlooking Aqaba and its port. The al-zarqawi group explained the delay in issuing its claim by saying it waited five days "so that the brothers could finish retreating". The Syrian arrested in the attack was identified as Mohammed Hassan Abdullah al-sihly, who lived in the Jordanian capital, Amman. He was said to have been helped by his two sons, who come from the northern Syrian city of Hama. The fourth member of the team and its reputed leader was allegedly Mohammed Hamid Hussein, an Iraqi. In the attack last Friday, one rocket flew across the bow of a US amphibious assault ship and crashed into a warehouse, killing a Jordanian soldier. Another missile landed near a Jordanian hospital, and a third hit a taxi on the outskirts of an Israeli airport across the border, but it did not explode. SHIPYARD NEWS THIS SECTION IS BROUGHT TO YOU BY : WESTMARK bv "Add -mergi to your fuel and experience: WESTMARK bv * Cleaner turbochargers, exhaust gasboilers and engines. Postbus 1082 * Extended maintenance intervals and reduced consumption 3920 EB Woudenberg of spare parts. The Netherlands * Lower emissions and substantialy cleaner exhaust gases. * Reduced fuel consumption Tel + 31 (0) Fax + 31 (0) * Easy and simple dosing system westmark@cablesafe.com website : Tewaterlating vakantieschip Zonnebloem Op de werf van IHC Holland in Kinderdijk is zaterdag 27 augustus een waar spektakel te zien: de tewaterlating van het nieuwe vakantieschip van de Zonnebloem. Het 115 meter lange casco van het schip glijdt om uur van de scheepshelling in het water. Na de tewaterlating wordt het casco afgebouwd bij het zusterbedrijf Merwede Shipyard in Hardinxveld-Giessendam. PSi-Daily maritime press clippings Page 7 8/24/2005

8 Mevrouw R. Vliegenthart-de Boon, een vakantieganger van de Zonnebloem, geeft het startsein voor de tewaterlating. Ik vind het heel bijzonder dat ik namens de zieke en gehandicapte vakantiegangers het startsein mag geven. Ik weet uit eigen ervaring hoe belangrijk de vaarvakanties van de Zonnebloem zijn. Je kunt de zorgen even vergeten en genieten van de mooie plekjes langs de Rijn. Heerlijk! Op dinsdag 20 december is de doop van het vakantieschip en op 6 februari 2006 gaan de trossen los en kunnen de eerste ernstig zieke en gehandicapte passagiers gaan genieten van een scheepslading vol grenzeloos vakantieplezier. Dankzij de overweldigende steun van het bedrijfsleven, de vrijwilligers en andere geldschieters kan de Zonnebloem straks jaarlijks 2850 vakantiegangers een mooie vaarvakantie aanbieden. Inmiddels is er ruim 10 miljoen van de benodigde 14 miljoen bijeengebracht. Sasebo slips Japanese shipbuilder Sasebo Heavy Industries saw net income drop to JPY 77m ($696,000m) in the first quarter to 30 June. This is down from JPY 682m in the same period of its previous financial year Revenues were down slightly at JPY 11bn, against JPY 11.19bn in In April, the yard announced a plan to increase its production capacity with a JPY 5bn investment. It will replace aging equipment at its shipyard in Sasebo and spend JPY 3.5bn on boosting production capability by 10% to meet increased demand for ships. It will then be able to build the equivalent of 13 76,000-dwt ships, compared to 12 at present. The work will take place this year. Poppen bouwt compleet containerschip Scheepswerf Poppen in Zwartsluis bouwt een compleet containerschip (86 bij 9,60 meter) voor een Nederlandse binnenvaartondernemer. De werf begint eind deze maand met de bouw. In mei 2006 moet het schip volledig zijn afgebouwd. Ton Cornet, van Cornet Shipping uit Werkendam, bemiddelde en verzorgt de bouwbegeleiding. 'De snelle levertijd en het feit dat de prijzen van de cascobouw in Polen en Nederland steeds meer naar elkaar toegroeien zijn de belangrijkste redenen voor de opdrachtgever om in Nederland te gaan bouwen', zegt werfdirecteur Martin Poppen. 'Twee jaar geleden scheelde het nog veel, maar Polen is duurder geworden en de levertijden zijn er langer.' Ton Cornet, die de afgelopen jaren diverse nieuwbouwprojecten in Oost-Europa begeleidde (onder meer in Rusland, Oekraïne en Polen) beaamt de woorden van Poppen. 'De verschillen zijn dermate klein geworden dat je je moet afvragen of het nog wel zin heeft in het buitenland te bouwen. Dat brengt extra kosten met zich mee voor de aanvoer van materiaal en je moet er ook zelf heen, wat de bouwbegeleiding duurder maakt. Er zijn ook schippers die liever een Nederlands casco hebben. Wanneer er dan iets mee is, kun je dezelfde dag nog naar de werf. De snelle levertijd heeft ook voordelen. Met een schip dat eerder klaar is wordt immers eerder geld verdiend. Wanneer ik in het buitenland een casco bestel met geplande oplevering in mei, wordt het vrijwel altijd later en dan moet de afbouw nog beginnen.' ROUTE, PORTS & SERVICES THIS SECTION IS BROUGHT TO YOU BY : PSi-Daily maritime press clippings Page 8 8/24/2005

9 TOTAL VESSEL MANAGEMENT K.P. van der Mandelelaan MB Rotterdam (Brainpark) - The Netherlands Telephone : (31) Fax : (31) mail@workships.nl Telex : wosh nl Top : The Hermod during the loadtest of the Port side crane with 4400 ton in the Offshore put Rotterdam Photo : Crew Hermod LATEST DELIVERIES FROM DAMEN SHIPYARD GORINCHEM Last week trials at the north sea were completed successfully of the new high speed 42 meter coastguard vessel CORNWALL. The vessel will be delivered to the Jamaican coastguard by the end of August and will be followed by two identical sister ships during 2005 and The vessel is a Stanpatrol 4207 from the standard range of Damen patrol vessel series witch turned out to be very successful all over the world PSi-Daily maritime press clippings Page 9 8/24/2005

10 DAMEN STAN PATROL 4207 Length o.a m Beam o.a m Depth at sides 3.77 m Power range bkw Speed range knots Hull construction Steel Superstructure construction Aluminium The latest change in the standard lay out is the introduction of a user friendly state of art INS bridge concept designed in close cooporation with ALPHATRON MARINE of Rotterdam The CORNWALL is the first vessel equipped with the newly introduced ALPHABRIDGE integrated bridge system INS. All aluminium consoles, panels, screens and controls are carrying the same basic ALPHATRON ALPHALINE design concept creating a very user-friendly lay out. Easy to operate and extremely reliable due to the fact that the use of PC orientated equipment is been kept to the absolute minimum. Various control functions are carried out by a proven PLC operating system fully redundant. Easy screen switching is possible via this arrangement and main controls like Bowthruster, propeller pitch,window wipers and steering are done from the armrests of the main pilot chair. Besides dual JRC radars the bridge is equipped with a ecdis system Alphachart, a centralized navigation information screen Alphaconn a alarm monitoring system as well as a closed circuit television system for observing all relevant spots inside and outside the vessel. A comprehensive package of communication equipment is installed in order to communicate within the vessel and to the outside world. Alphatron Marine op Hiswa te Water Alphatron Marine Yachting is dit jaar aanwezig op de Hiswa te Water in de IJmuiden Seaport Marine van dinsdag 30 augustus t/m zondag 4 september. Op de kade behorende PSi-Daily maritime press clippings Page 10 8/24/2005

11 bij dit watersportevenement zal Alphatron Marine met de eigen demonstratiebus verschillende navigatie en communicatieproducten voor de pleziervaart presenteren. Hierbij zijn ook een aantal noviteiten te vinden: Alphatron Marine is distributeur van Seiwa. Seiwa is onlangs op de markt gekomen met een radar blackbox die koppelbaar is aan de kaartplotters Barracuda, Barramundi en de Explorer. Doordat kaart en radar gekoppeld zijn ontstaat er een overlay, waarbij de radarbeelden over de kaart geprojecteerd weergegeven worden. Seiwa navigatie-producten zijn van hoge kwaliteit en leverbaar tegen een scherpe prijsstelling. Ook van recente datum is de blackbox fishfinder, die bovengenoemde GPS/plotters completeert. Vrijwel alle functies kunnen nu vanaf het scherm gecombineerd worden, zodat u een compleet navigatiecentrum aan boord hebt. Nobeltec, onderdeel van Jeppesen Marine uit de Verenigde Staten heeft naast de navigatiesoftware Visual Navigation Suite en Admiral nu ook een InSight Sounder voor op de pc of laptop. De InSight Sounder is een geïntegreerde dieptemeter/fishfinder en geeft superieure weergave. Daarnaast bevat de InSight Sounder van Nobeltec vele extra s als een nachtversie, een splitscreen en een water alarm. De InSight Sounder is koppelbaar aan de PC-software VNS en Admiral waarmee u een compleet sounder/kaart overzicht krijgt. Ook hier is de toevoeging van een radarantenne mogelijk, waarmee u een volledig PC gebaseerd systeem naar eigen wens kunt samenstellen Alphatron Marine is te vinden op kadeplaats 121 tijdens de Hiswa te Water. Smooth sailing at last for new ferry It was finally smooth sailing today for the new Interislander ferry Kaitaki, which has been plagued by berthing problems since its maiden voyage two days ago. The Kaitaki's scheduled 8.45am sailing from Wellington yesterday turned into three hours of frustration for passengers. Problems continued last night after the sailing from Picton, scheduled to arrive at 4pm, docked more than four hours late. The ship began entering the dock at 7.40pm, but passengers were forced to wait a further 40 minutes before they could get off. There are no gangplank facilities at the temporary terminal and foot passengers have to exit via the car deck. The ferry was more than two hours late arriving in Wellington on the return sailing. However, Toll Shipping spokeswoman Sue Foley said the holdups were "teething issues" and a temporary ramp is in place at the old Lynx terminal in Wellington. Ms Foley said the Wellington wharf operator CentrePort has said it will complete modifications on a more permanent gang plank by the end of the week. "Meanwhile, we've got interim measures in place and everything is just fine." A permanent berth is being built at the Interisland terminal at Kaiwharawhara and will be completed in November. PSi-Daily maritime press clippings Page 11 8/24/2005

12 Iran to buy South Korean tanker Iran has signed an agreement with South Korea for the purchase of an oil tanker, managing director of Irano-Hind Shipping Company said. Gholam-Reza Golparvar told PIN the ship would be delivered in We are also negotiating to get a tanker vessel and a bulk carrier from China, he said, adding the tanker can carry 1.1 million barrels and the bulk carrier can accommodate 160,000 tons. Regarding vessels for carrying liquefied natural gas (LNG), he said: We will move to purchase LNG carriers after finalization of negotiations and formation of Iran- India shipping consortium. Golparvar said Iranian companies can also contribute to vessel construction if they prove their capacities. Established in 1975, Irano-Hind Shipping Company is owned by the Islamic Republic of Iran Shipping Lines (61%) and the Indian Shipping Line. Frontline dips in second quarter Norwegian tanker giant Frontline went into reverse in the second quarter, as spot markets slumped. But it still managed to post a record net profit of $407.54m in the first half of 2005 on the back of a stronger first quarter. The comparable figure for 2004 was $383.62m. It gained $17m from the sale of three older suezmaxes in the period. It said net earnings were $127.5m in the second quarter, down from $169.18m the year before. John Fredriksen s company recorded revenues of $792.98m in the first half, down slightly from $795.53m in Operating income for the latest quarter took a plunge to $185.1m, compared to $309.3m in the first quarter of this year, reflecting the continued decrease in the market. The average daily time charter equivalent earnings (TCEs) in the spot and period markets for VLCCs, suezmaxes and suezmax OBOs were $50,300, $34,100 and $36,400 respectively. This compares poorly with $77,500, $55,200 and $35,800 in the first quarter of Frontline has a cash breakeven rate for the spot tonnage of $25,700 for VLCCs and $14,100 for the suezmaxes. VLCCs have been falling from their peak of Worldscale (WS) 300 in November to as low as WS50 in the second quarter, as the worldwide fleet increased. Frontline said: Although the tanker market recently has seen lower levels than was anticipated, the rates are expected to rebound in the second half of the year. The freight futures market maintains an optimistic view, demonstrated through the possibility of selling freight futures for VLCCs for the remainder of the year at a level that equates to TCEs of approximately $64,000, and $46,000 for Frontline said it would continue to sell ships and fix more on long-term charters as the need arose, to maximise returns for shareholders. It thinks weaker freight markets could lower newbuilding and second-hand prices, but expects another window for well-timed investments will open between 2007 and Frontline s long-term chartering of vessels from Ship Finance International (SFI) at relatively low rates leaves it well positioned in the future, it said. PSi-Daily maritime press clippings Page 12 8/24/2005

13 It spun SFI off last year as a vessel-owning company and still intends to sell its remaining shares in the company, probably in the form of a dividend or a straight sale before the year is out. Shareholders like Fredriksen s Hemen Holding have indicated an interest in retaining their relative position in the Ship Finance shares and would thereby prefer a share dividend, Frontline said. And the tanker owner continues to back consolidation in the industry. It believes fragmentation of suezmax and aframax markets has been harming earnings. To counter-balance this trend and create more solid tanker companies it is important that some of the major players come together, it added. Frontline will encourage such discussions and can assure our shareholders that our focus will be on longterm value-creation." Looking ahead, it said the trend of lower rates was expected to be reversed in September/October with increased seasonal demand, but also driven by increased oil export from West Africa, increased imports to China and reduced maintenance on fields as well as refineries. It concluded: The board expects Frontline to deliver strong results and thereby continued high dividend for the remainder of K-Sea to acquire Sea Coast towing K-Sea Transportation Partners L.P. says it will acquire Sea Coast Towing, Inc. of Seattle, Washington, from Marine Resources Group, Inc.--the holding company for the tug, barge and ancillary marine service investments of privately-held Saltchuk Resources. K-Sea will pay approximately $81 million for Sea Coast and says says the move will make it the largest coastwise operator of tank barges in the U.S. in terms of cargo capacity. Sea Coast operates fifteen tank barges and fifteen tugboats, representing 694,000 barrels of capacity, of which 316,000 barrels are double-hulled. Of the remaining single hulled capacity, approximately 80 percent is eligible to operate in the Jones Act trades until January 2015, with the remaining capacity (one vessel) eligible until January The addition of these tank barges will represent a 27.1 percent increase in the barrel-carrying capacity of the K-Sea fleet to over 3.2 million barrels. K-Sea believes this will make it the largest coastwise tank barge operator, measured by barrel-carrying capacity, in the U.S. The purchase price will consist of $77 million in cash and 125,000 of K-Sea's common units. K-Sea expects to finance the cash portion of the purchase price through additional borrowings. The transaction is expected to close in late October, subject to customary closing conditions, and should be immediately accretive to K-Sea's distributable cash flow. Timothy J. Casey, President and CEO of K-Sea, said, "We look forward to welcoming Sea Coast's employees to our Company. This transaction will expand our geographical presence to the West Coast which provides another platform for future growth. It also significantly increases our barrel-carrying capacity which, we believe, strengthens K-Sea's position as a leading provider of refined petroleum products transportation services in the U.S. and expands our ability to provide safe, reliable, and efficient service to our customers." Paul E. Stevens, President and CEO of Marine Resources Group, Inc. stated, "We are pleased that K-Sea shares our vision of quality, safety and reliable service. We welcome the opportunity to continue to provide services to Sea Coast with our other companies as we focus on our core businesses." By early 2006, after delivery of three previously announced double-hulled tank barges currently under construction, totaling an additional 160,000 barrels, K-Sea's total barrel-carrying capacity of over 3.4 million barrels will have increased by over 1.1 million barrels, or 48 percent, from capacity at the time of the PSi-Daily maritime press clippings Page 13 8/24/2005

14 company's initial public offering in January 2004, despite the phase-out of almost 328,000 barrels under OPA 90 requirements. MOVEMENTS THIS SECTION IS BROUGHT TO YOU BY : MULTRASHIP Towage & Salvage Scheldekade EH Terneuzen The Netherlands Tel : Fax : Internet commercial@multraship.com The DETTIFOSS seen here outward bound from Rotterdam Photo : Frits Janse The ALPINA off Tampa Photo : Zane Johnston PSi-Daily maritime press clippings Page 14 8/24/2005

15 The MALVIVA TWENTY seen here entering the port of Aberdeen Photo : Jan Groot Bramel MARINE WEATHER THIS SECTION IS BROUGHT TO YOU BY : Internet: Tel : sposinfo@meteo.nl PSi-Daily maritime press clippings Page 15 8/24/2005

16 Today s wind (+6Bft) and wave (+3m) chart. Created with SPOS, the onboard weather information & voyage optimisation system, used on over 500 vessels today. PHOTO OF THE DAY The Indonesian sail trainer DEWARUCI arrived from Amsterdam in Flushing for the Small Sail Vlissingen See information about the SMALL SAIL in Flushing below!! Workships Contractors B.V. in Rotterdam is op zoek naar een ervaren Technical Operation Manager en een jonge enthousiaste Technical Superintendent. Informatie over Workships Contractors B.V. is te vinden op de website: en nadere informatie over een van deze functies is telefonisch in te winnen bij Maarten Hardon, tel PSi-Daily maritime press clippings Page 16 8/24/2005

17 SMITWIJS TOWAGE B.V. Westplein 5b 3016 BM Rotterdam The Netherlands Telephone: Telefax: SMALL SAIL FESTIVAL VLISSINGEN Ook ditmaal zal het Zeeuws Maritiem Erfgoed centraal staan en tevens zal er aandacht worden geschonken aan de festiviteiten in het jaar 2007 waarin de gemeente Vlissingen de 400e geboortedag van Michiel Adriaans zoon de Ruyter zal herdenken. De activiteiten en evenementen vinden plaats in en rondom de jachthaven De Ruyter, aan het begin van de Boulevard de Ruyter, in het centrum van Vlissingen en dit jaar voor de 1e maal in en rondom de Dokhaven (voormalig KSG haven). De officiële opening zal plaatsvinden op 25 augustus in de St. Jacobskerk met een optreden van de Marinierskapel De organisatie van het Small Sail Festival Vlissingen werkt samen met de Vlissingse Horeca om gezamenlijk te komen tot een bruisend geheel waarbij de genoemde locaties bol zullen staan van evenementen en u zich tegoed kunt doen aan het "fruit de mer" uit de Zeeuwse wateren. Dit jaar verzorgt het VVV Walcheren Noord Beveland toeristische rondleidingen door de Vlissingse binnenstad en het festivalterrein. Voor meer informatie VVV, Oude Markt 3 te Vlissingen tel. (0118) of Er zal dus weer veel te doen zijn in Vlissingen zoals het optreden van diverse shanty-koren, vaartochten met antieke zeilschepen, klederdrachtshows, historische beloodsingen, demonstraties van oude maritieme ambachten en demonstraties van de Koninklijke Marine, attracties voor de jeugd met o.a. een klimtoren, brugsimulator, redding op zee, para-landing etc etc. Voor u genoeg redenen om te zeggen: PSi-Daily maritime press clippings Page 17 8/24/2005

18 Donderdag 25 augustus uur - Officiële opening in de St. Jacobskerk met optreden van De Marinierskapel van de Koninklijke Marine Vrijdag 26 augustus 2005 Vanaf uur - Binnenkomst van de Schepen in de Koopmanshaven, De Ruyterhaven en de Dokhaven - Expositie en manifestaties van Nederlandse en Vlaamse maritieme schilders - Demonstraties van scheepsmodellen en oude maritieme ambachten - Vaartochten met klassieke zeilschepen - Bezichtiging schepen maritiem erfgoed en Koninklijke Marine - Jeugdattracties - Rondleidingen door VVV uur - Spectaculaire publieksopening - Optredens shantykoren - Klederdrachtshows - Mosselspecialiteiten - Historische sloepbeloodsing - Optreden Steelband Koninklijke Marine Zaterdag 27 augustus 2005 Vanaf uur - Expositie en manifestaties van Nederlandse en Vlaamse maritieme schilders - Bezichtiging schepen maritiem erfgoed en Koninklijke Marine - Demonstraties van scheepsmodellen en oude maritieme ambachten - Jeugdattracties - Klimtoren en Roadshow Koninklijke Marine - Antiekmarkt - Vaartochten met klassieke zeilschepen - Optreden shantykoren - Klederdrachtshows - Mosselspecialiteiten - Historische sloepbeloodsing uur - Gezamenlijk optreden shantykoren Zondag 28 augustus uur - Sea Sunday. Kerkdienst in de St. Jacobskerk met een optreden van het Scheldeloodsenkoor PSi-Daily maritime press clippings Page 18 8/24/2005

19 Vanaf uur - Expositie en manifestaties van Nederlandse en Vlaamse maritieme schilders - Bezichtiging schepen maritiem erfgoed - Demonstraties van scheepsmodellen en oude maritieme ambachten - Jeugdattracties - Klimtoren en Roadshow Koninklijke Marine - Landing parachutisten en reddingsdemonstraties Koninklijke Marine - Vaartochten met klassieke zeilschepen - Optreden shantykoren - Klederdrachtshows - Vlootschouw langs Vlissingse Boulevard Tot ziens in Vlissingen in het laatste weekend van augustus 2005! The compiler of the news clippings disclaim all liability for any loss, damage or expense however caused, arising from the sending, receipt, or use of this communication and on any reliance placed upon the information provided through this free service and does not guarantee the completeness or accuracy of the information. If you want to no longer receive this bulletin kindly reply with the word unsubscribe in the subject line. PSi-Daily maritime press clippings Page 19 8/24/2005