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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: BigBull who wrote (64369)4/12/2000 9:27:00 AM
From: SargeK  Read Replies (1) of 95453
 
Bull, Double Hull Estimates found in the FGH 10-K

"DOUBLE HULL: OPA '90. Demand for double hull carriers has been created by the Oil and Pollution Act of 1990 ("OPA '90"), which generally requires U.S. and foreign vessels carrying fuel and certain other hazardous cargoes and entering U.S. ports to have double hulls by 2015. OPA '90 established a phase-out schedule that began January 1, 1995 for all existing single hull vessels based on the vessel's age and gross tonnage. The Company estimates that OPA '90 will require 66 barges engaged in domestic trade to be retrofitted or replaced by 2005 and another 22 such barges to be retrofitted or replaced by 2010."

As you know, construction of these vessels are protected against foreign competition by the Jones Act.

Have a good day

SargeK
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