Page 2: of Maritime Reporter Magazine (December 1980)

enerdy%ource

IS COAL 5S>

It's the he

Talk to the Department of

Energy about the long-range reserves of coal. Then talk to

Skinner, the steam engine people. They can turn you on- to cogeneration, marine propul- sion, equipment drive, and "free" steam to perform other energy-saving, money-saving jobs. On ship and on shore. jilding steam engines 1f2 years ago, and never really stopped. They just put one in for Lord Corpor- ation in Erie, PA, that will gen- erate enough electricity and low pressure steam to pay for the equipment in three years.

When coal was the fuel for marine vessels, steam engines by Skinner were first in per- formance and first in prefer- ence. Now that owners are considering a return to avail- able, affordable coal, Skinner know-how is only a phone call away. Ask Dick Whiting how coal power fits in your future.

POWER DIVISION

SKINNER ENGINE COMPANY

A SUBSIDIARY OF BANNER INDUSTRIES, INC. 337 West 12th Street. Erie, Pennsylvania 16512

Phone 814-454-7103 Telex 91-4481

Write 336 on Reader Service Card

Ogden Applies For CDS

And Amended Title XI

On Three LNG Carriers

To Cost $861 Million

Ogden Marine Indonesia, Inc., a subsidiary of Ogden Marine,

Inc., New York, has applied to the

Maritime Administration for con- construction-differential subsidy (CDS), and amended its 1975 ap- plication for a Title XI guarantee to aid in financing the construc- tion of three liquefied natural gas (LNG) carriers.

General Dynamics Corporation,

Quincy, Mass., is the proposed shipbuilder, and anticipates deliv- ery of the first 65,750-dwt (125,- 000-cubic-meter) vessel by 1986.

Ogden Marine plans to use the ships to transport liquefied na- tural gas between Indonesia and the U.S. West Coast. Each LNG is expected to cost approximately $287 million. If approved, the

Title XI guarantee would cover 75 percent of the shipbuilding costs not covered by Federal con- struction subsidies.

Ogden Marine's applications represent the second financing re- quest received by the Maritime

Administration within a month in connection with the transporta- tion of LNG from Indonesia to

California for use by Pacific Gas and Electric Company and Pacific

Lighting Corporation. The first application, also involving three ships, was received from Zapata

Western LNG Inc. of Houston.

Ocean Oil & Gas Merged

With Subsidiary Of

Ocean Drilling

Hugh J. Kelly, president and chief executive officer of Ocean

Drilling & Exploration Company (ODECO), has announced that he shareholders of Ocean Oil &

Gas Company (Ocean) have ap- proved the agreement and plan of merger under which Ocean has been merged with a wholly owned subsidiary of ODECO, and each share of Ocean common stock not owned by ODECO has been con- verted into 1.5 shares of ODECO common stock.

ODECO, founded in 1953 and headquartered in New Orleans, is the world's largest offshore drill- ing contractor, explores for and produces oil and gas, provides deepsea diving services, and has international insurance interests.

MARITIME REPORTER

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NEW YORK, N. Y. 10016 (212) 689-3266

ESTABLISHED 1939

Maritime Reporter/Engineering News is published the 1st and 15th of each month by Maritime Activity Reports, Inc. Controlled

Circulation postage paid at Waterbury, Connecticut 06701.

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No. 23 Volume 42 AIL MATERIAL FOR EDITORIAL CONSIDERATION SHOULD BE ADDRESSED TO ROBERT WARE, EDITOR.

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