West German Fleet

Shrank 5.2 percent in 1987FRANKFURT, West Germany - The appreciation of the deutsche mark and depressed international freight rates pressured German shipowners to reduce tonnage and flag out in 1987, according to statistics released by the German Shipowners Association.

The number of German-flagged or German-operated merchant vessels shrank 5.2 percent to 662 units, totaling 6.79 million gross registered tons and 10.13 million deadweight tons. The figures - which represent the fleet's size on Jan. 1 - exclude coastal and fishing vessels and ships under 1,600 grt.

The German-flagged fleet was comprised of 288 vessels totaling 2.89 million gross registered metric tons and 3.88 deadweight tons. The figures represent a drop of 56 ships and 395,000 grt.

Some 374 ships totaling 3.9 million grt. and 6.26 dwt. are German operated but fly foreign flags, down from 354 vessels totaling 4.11 grt. The most common foreign flags on German ships are in order: Cyprus, Panama, Singapore and Liberia.

German shipowners put into service only eight new ships totaling 74,000 grt. in 1987, down from 27 vessels totaling 246,000 grt. the previous year. All the vessels were built in German shipyards.

Government Completes

Itel Dredging Probe

CHICAGO - Itel Corp. said Tuesday that the previously reported federal investigations of its dredging operations have been concluded.

Two subsidiaries of Great Lakes International Inc., which was acquired by Itel at the end of 1985, have agreed to plead guilty to one pending and four additional criminal charges and pay fines and damages totaling up to $8.3 million.

The government has agreed that it will take no further action against Great Lakes and its subsidiaries for allegedly conspiring with their competitors to reduce competition for dredging projects.

The cost of this settlement is fully covered by the extraordinary charge of $7.3 million, net of taxes and minority interests, that Itel made to its 1987 earnings to reflect this settlement and related expenses.

Itel Corp. is currently in three primary businesses: transportation services (railcar and container leasing), dredging and the distribution of wiring systems products.

Ingalls Shipbuilding

Lands Navy Contract

BEVERLY HILLS, Calif. - Litton Industries said the U.S. Navy has awarded its IngallsShipbuilding division a $769.1 million contract to build four additional Ticonderoga-class Aegis-guided missile cruisers.

This award brings to 19 the total number of Aegis cruisers awarded Ingalls. Nine of the ships have been delivered by Ingalls since 1982, and two more will be delivered later this year.

Ingalls, located in Pascagoula, Miss., is the lead shipyard for the cruiser program, which began in 1978.

Cargo Volume Slides

1.7 percent at German Ports

FRANKFURT, West Germany - The ocean cargo volume in West Germany's 13 largest ports slipped 1.7 percent to 129.6 million metric tons in 1987, with general cargo growth unable to compensate for a decline in bulk cargo.

General cargo grew 5.7 percent to 50 million tons, while bulk cargo shrank 5.9 percent to 79.7 million tons, the German Transportation Ministry said. The drop in bulk cargo was caused primarily by declines in the volume of oil (down 15.1 percent to 19.7 million tons), ore (down 14.2 percent to 12.3 million tons) and coal (down 23.2 percent to 5.2 million tons).