Investment In Tankers: The Case For Optimism

Lloyd's List for September 12, 1978, reported that two 1971-72, 255,000-dwt VLCCs had recently changed hands for some $7 million each. This was somewhat lower than the price level ruling during the first half of 1978, when the average secondhand price for a VLCC was about $38.


Bender Christens And Launches Cruiser "Pilgrim Belle'

Bender Shipbuilding & Repair Co., Inc. Mobile, Ala., recently christened and launched the cruise vessel Pilgrim Belle for Coastwise Cruise Line of Hyannis, Mass. Coastwise Cruise Line's parent corporation, Hyannis Harbor Tours, Inc. is also known as Hy-Line.

Multi-Purpose Mobilization Ship

One of the Maritime Administration's (MarAd) missions is to provide shipping capability during a declared national emergency. As one part of this mission MarAd has identified the need to have "on-the-shelf" plans and specifications f o r designs which will satisfy shipping requirements.

Cuba Takes Delivery Of Third Canadian-Built Ship

The third tanker to be built in Canada for Cuba was commissioned July 12 at the shipyard of Marine Industrie Limitee of Tracy near Sorel, Quebec, following a week of successful sea trials. In a ceremony attended by top executives of the Cuban Shipping Line,

MarAd Approves Title XI For Two Tankers Costing $129 Million

Assistant Secretary of Commerce for Maritime Affairs, Maritime Administration, Samuel B. Nemirow has approved in princiciple an application by Ogden Shamrock Transport, Inc., and Ogden Hudson Transport, Inc., two wholly owned subsidiaries of Ogden Bulk Transport, Inc.

IMODCO Receives $6-Million Contract From Argentine Firm

Yacimientos Petroliferos Fiscales (YPF), the Argentina stateowned oil company, has awarded IMODCO, a unit of AMCA International Corporation, a contract in excess of $6 million for two offshore marine terminal systems to augment two other IMODCOdesigned and

Port Authority Receives Approval

The Port Authority has received approval from the Army Corps of Engineers to deepen a section of the Kill van Kull to 50 ft., launching the agency's ambitious $1.8 billion project to dredge the region's harbor channels to 50 feet and maintain its

Cunard To Buy Norwegian American Cruises In $73-Million Agreement

The Cunard Shipping Group recently announced that an agreement has been reached to purchase Norwegian American Cruises, a subsidiary of Lief Hoegh of Norway, for $73 million. The agreement includes two luxurious cruise ships, the Sagaf j o rd and Vistafjord.

Alabama Docks Buys Land For Expansion

The Alabama State Docks, Mobile, Ala., has purchased 143 acres of prime waterfront property for additional port expansion, according to an announcement by Robert M. Hope, director. Mr. Hope said the property was acquired at a cost of $11 million from the Illinois Central Gulf Railroad.

EC And 14 Nations Protest Dredging Restrictions In 1992 MarAd Budget

Fourteen foreign governments and the European Community have protested legislation that tightens domestic shipping law restrictions on dredging in American waters. Protesters say the measure, inserted into the fiscal year 1992 Maritime Administration spending bill by Representative W.

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