OTHER NEWS - July 18, 1994

Shipbuilders Agree to Scrap Aid: Major shipbuilding nations agreed after five years of negotiations to scrap subsidies to their shipyards, but France rejected the deal, negotiators said. The deal to scrap aid to most U.S., European and Asian shipyards was struck at the Paris headquarters of the Organization for Economic Cooperation and Development. Delegates from shipbuilding nations, representing three-quarters of world capacity, presented it as an attempt to impose order on an unruly international ship market. The unsigned agreement must be ratified by all participants and would come into effect on Jan. 1, 1996.