Page 28: of Maritime Reporter Magazine (July 1970)

OSG To Build

Dry Bulk Carrier

And Supertanker

Overseas Shipholding Group, Inc. announced at its annual stockhold- ers' meeting in New York that it has signed letter agreements for the construction in Japan of a 262,500- dwt supertanker and a dry bulk carrier of 25,400-dwt for delivery in 1973. The recent acquisition of a 31,000-dwt bulk ship, currently operating in the group's interna- tional fleet, was a so announced.

This new building and acquisi- tion represent an investment of ap- proximately $35-million, according to Raphael Recanati, chairman of the finance and development com- mittee of OSG's board of directors, who reported these major develop- ments at the company's first annual stockholders' meeting since going public in January of this year.

The OSG fleet, Mr. Recanati said, now stands at 33 tankers and dry bulk carriers with a total carry- ing capacity of 1,022,000 dwt. The company also has a 50 percent in- terest in a 29,000 ton oil barge.

The multinational shipping com- pany now has seven ships under construction in the United States,

Japan and England, which by 1973 will raise the OSG fleet to 40 ves- sels aggregating 1,827,000 dwt. Mr.

Recanati noted that this represents an 85 percent increase from OSG's 1969 level.

Alan MacNaughten

Joins Independent

Petroleum Supply

Alan MacNaughten

Alan MacNaughten has joined

IPS, the Independent Petroleum

Supply Company, according to an announcement from the Natomas

Company subsidiary. Mr. Mac-

Naughten has held various man- agerial positions with the Royal

Dutch/She 1 group in the field of

International Marine Bunkers. Pri- or to his joining IPS, Mr. Mac-

Naughten was Bunker Manager for

Shell Oil in the United States.

Mr. MacNaughten is well known in international shipping and petro- leum circles. His ability and experi- ence will help IPS strengthen its marketing program. IPS is the ex- clusive bunker marketer for the

West Indies Oil Company, Limited,

Antigua, W. I., and in addition sells bunkers worldwide. IPS will also market Natomas Company's

Indonesian crude production.

Mr. MacNaughten is a resident of Verona, N.J. and is a graduate of Wesleyan University. He is a member of the National Propeller

Club, the Whitehall Club, the

Montclair Golf Club, the Oslo Golf

Club, the Caledonian Club (Lon- don), the Burns Society, and the

New York Ski Club.

Maritime Management

Institute Proceedings

Volume Available

The "Proceedings" of the Fourth

Annual Maritime Management In- stitute, which was held March 4-5 under the auspices of the State Uni- versity of New York Maritime Col- lege, have been published in a vol- ume. The 1970 Maritime Manage- ment Institute attracted national attention, and for this reason a limited number of copies of the "Proceedings" are being made available to the general public.

The volume includes the text of 17 speeches given at the Institute by Government and industry lead- ers, covering all facets of the trans- portation field. The theme of this year's two-day meeting was "In- termodal Transportation—Govern- ment Regulatory Policy?", and probed deeply into the question of the necessity for through-rate bills of lading.

Copies of the "Proceedings", which are priced at $10.00, may be obtained by writing the Ship's

Store, SUNY Maritime College,

Fort Schuyler, Bronx, N.Y. 10465, telephone: 892-3000, Ext. 260 or 327.

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