Page 34: of Maritime Reporter Magazine (May 15, 1969)

N.Y. Stock Exchange Approves Listing Of Seatrain Lines The common stock of Seatrain Lines, Inc., has been approved for listing by the board of governors of the New York Stock Exchange. Trading of the shares is scheduled to begin on June 3, 1969. Seatrain is a worldwide operator of 45 containerships, oil and grain tankers and multi-purpose military cargo vessels. The company oper-ates its own containerports in New York Harbor and San Juan, Puer-to Rico; is currently building new containerports in Hawaii, Cali-fornia and the Port of New York, and recently leased a major part of the former Brooklyn Navy Yard which it plans to reopen as a ship-building complex. Seatrain reported revenues of $87,988,618 for the year ended June 30. 1968. a gain of 42 percent com-ASEA Tandem cranes working together to handle a container. In recent months ASEA's Me-chanical Products Division, Hel-singborg. Sweden, has successfully demonstrated their Tandem crane for a large number of shipowners. This twin crane arrangement comprises two identical but sepa-rate deck cranes mounted on a com-mon platform, which can rotate through 360 degrees. The cranes are Ward-Leonard-controlled, and totally enclosed except for the rope barrels. Standard features include a short tail radius and anti-colli-sion protection. The tandem arrangement affords the following operation alterna-tives : independent ? working two holds fore and aft of the mount; in-dependent?working the same hold from both sides of the ship, and tandem-?with both cranes locked at a fixed slew angle, rotation tak-ing place at the platform. Each crane can be independently operated. In tandem, one crane functions as a slave unit, automati-cally following the motions of the master unit. Control can take place from either cab. Essential for a twin-crane ar-rangement is an accurate method of synchronizing the luffing and hoisting motions of the two units. ASEA has adopted a system that has been used successfully for in-dustrial applications and its suit-ability has been proven repeatedly on the test rig at the ASEA Hel-singborg factory. ASEA Tandem cranes to be sup-plied include twelve 2 by 11-ton sets for a British company, nine 2 by 12.5-ton sets ordered by a Yugoslavian yard for Norwegian owners, as well as eight 2 by 12.5-ton sets for ships to lie built at a Japanese yard. n Shipboard dime pared with the prior vear, and net earnings of $14,030,333, or $3.13 per share, up 108 percent from fis-cal 1967. For the six months ended December 31. 1968, Seatrain's reve-nues totaled $47,884,433, compared with $41,383,603 a year earlier, and net earnings were $8,691,332 or $1.93 per share, compared with $6,393,531 or $1.43 per share. Per share results were based upon average shares outstanding during each period. The board of directors has approved a 3-for-I stock split to be distributed on or about May 23 to stockholders of record May 9, subject to the ap-proval of shareholders. The common stock presently is traded over-the-counter. ASEA Demonstrates Tandem Crane Ability No toll charges - No dial tone-No power failures. No equipment failures either. Just good plain, uncomplicated, trouble-free, point-to-point, instant voice communication anywhere you choose on shipboard. Ship-to-Shore?'^*^^' That's not for our sound powered system. But for simple, uncomplicated talk aboard ship - better talk first with Henschel. On a land based line of course. Call us at 617 3881103. Ask for Mr. Luty. REPAIRS & CONVERSIONS TO ALL TYPES OF FLOATING EQUIPMENT 3 BERTHS at YARD Topside Repairs At Unloading Docks PORTABLE EQUIPMENT FOR COMPLETE REPAIRS BENDER Ship Repair, Inc. 265 S. Water Street, Mobile, Alabama 36602 1-205-433-3675 CABLE ADDRESS: BENSRI ? Master Ship Repair Contracts With All Government Maritime Agencies A Lange, £- Modem Raetof STEEL BARGES Transportation of Coal and Oil in New York Harbor and Vicinity 1 Broadway M .& J. TRACY, Inc. xv^vY SHIP REPAIR Dependable 24-Hour Service 38 Maritime Reporter/Engineering News