MARITIME BRIEFS

MARITIME BRIEFS

DEFENSE TESTIMONY

BEGINS FOR HAZELWOODA guard who watched tanker crews board ships at the Alaska pipeline terminal in Valdez testified Wednesday that security was so lax before the nation's worst oil spill that 90 percent of the sailors had been drinking before going aboard.

The testimony came as lawyers began the defense of fired Exxon Valdez tanker Capt. Joseph Hazelwood, charged with being drunk when his ship ran aground and dumped 11 million gallons of oil into Prince William Sound.

Security guard Michael Craig said the policy of Alyeska Pipeline Service Co., operator of the pipeline, was so loose that only crewmen too drunk to walk were subjected to any security action to keep them from their ships.

In contrast, three witnesses, including Mr. Craig and another security guard, testified that Capt. Hazelwood appeared sober in the before the March 24 accident.

BIDS ACCEPTED TO BUY

GLOBAL MARINE NOTES

WASHINGTON - The Maritime Administration has accepted bids from two companies that responded to its offering of Secured Rig Notes and Series B notes issued by Global Marine Inc., Houston.

Global Marine filed for protection under Chapter 11 of the federal bankruptcy laws in January 1986. Marad later paid off a total of about $232 million in loan guarantee bonds under its Title XI program on 12 offshore drilling rigs.

Norex America Inc. and Gabring AS will pay the agency $67 million for all of Marad's secured rig notes in the principal amount of $93.7 million. In addition, Norex will pay $3.15 million for all of Marad's Series B notes that have a principal amount of $7.3 million.

Norex and Gabring have given Marad 10 percent non-refundable deposits. The rest of the purchase price will be paid at a closing that has not yet been scheduled, said Marad.

MC SHIPPING POSTS EARNINGS

MC SHIPPING REPORTS

$2.1 Million Profit

MONTE CARLO, Monaco - MC Shipping Inc., a publicly traded subsidiary of the Vlasov Group Inc., said in a statement it had net income of $2.1 million for year ended Dec. 31.

Because it is a new company, there are no comparable figures for the previous year.

The company owns a fleet of multipurpose vessels and small containerships that are chartered out to other operators.

Earnings were 93 cents a share, based on a weighted average of 2,281,453 shares outstanding, the company said.

Gross revenues came to $9.5 million, against operating expenses of $6.4 million. The results were based on operations of the company since May 31, 1989, when a public stock offering of 3 million shares was completed.

ABS OFFERS DATABASE

ON TANK CONTAINERS

PARAMUS, N.J. - Survey information from a computerized database on tank containers is being offered to customers of the American Bureau of Shipping under a program by the classification society to modernize its operations.

Tank container owners, operators and leasing companies can receive automatic notification of the results of surveys, as well as notices on upcoming inspections required under international safety regulations. There is no charge for the service, according to the bureau.