Page 6: of Maritime Reporter Magazine (July 15, 1973)

Todd President

Foresees Return

Of U.S. Seapower

A new era of American seapow- er is in prospect as the Government recognizes the necessity to revital- ize United States naval and mer- chant marine strength, J.T. Gil- bride, president of Todd Shipyards

Corporation, told shareholders on

June 16 at the company's 55th an- nual meeting held at the Chase

Manhattan Bank building, New

York, N.Y. "I feel there is a growing com- mitment both within and without the halls of Congress to build and maintain a Navy and merchant ma- rine that will further the United

States' needs."

Mr. Gilbride, who is a member of President Nixon's Commission on American Shipbuilding, based his "optimism for the long term" on the fact that, "the Nixon doc- trine calls for less United States presence 011 the ground in foreign countries, while it will continue to support our international commit- ments. This seeming paradox ad- mits to few solutions. This can on- ly be interpreted to mean that a new era of American seapower is in prospect." "Otherwise." Mr. Gilbride said,

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CLEARING HOUSE FOR MARINE DIFFICULTIES SINCE 1894

IffffMI mm "the U.S. might well be forced to withdraw into neoisolationism, a posture unacceptable to most lead- ers and citizens of our Republic, if the Republic is to survive as a world power."

J.T. Gilbride

The Todd executive also report- ed that several orders had been re- ceived since the end of the fiscal year, including a $4-million con- tract by the Brooklyn Division to construct deckhouses for two 225,- 000-ton supertankers being built by Seatrain Lines, Inc., in the old

Brooklyn Navy Yard, and a con- tract for $18 million for two 440- foot double-ended ferries to be built in the Seattle Division for the state of Washington. He also an- nounced the receipt of a letter of intent, worth approximately $28 million, for the conversion of three additional Mariner type vessels to containerships for American Presi- dent Lines and one for American

Mail I Jne, work to be done at both

Seattle and Los Angeles.

Mr. Gilbride, John D. Reilly Jr., vice president, and William B.

Rand, consultant, were all reelect- ed to three-year terms as directors.

Kuwait Global Tankers

New Oil Tanker Firm

To Open Five Offices

The formation of a new interna- tional oil tanker firm, with head- quarters in Kuwait, has been an- nounced. Named Kuwait Global

Tankers, the firm intends to acquire a fleet of tankers in the 100,000 ton and above class. Elmo E. Ferrari of San Francisco is the chief execu- tive officer of the firm.

The new oil tanker company is 51 percent owned by members of the ruling A1 Sabali family of Ku- wait, with Sheikh Mishal A1 Sabah as chairman of the board. Besides its office in Kuwait, the firm will have a principal office in San Fran- cisco and additional offices in New

York, London and Japan.

Pacific Far East Line

To New Quarters

Pacific Far East Line, cargo and passenger steamship line, has moved into new company quarters.

PFEL's new address is: Pacific

Far East Line, Inc., One Embarca- dero Center, San Francisco. Calif. 94111.

Pacific Far East Line will occupy the entire 30th and 31st floors of One

Embarcadero Center, a 45-story building bounded by Sacramento

Street 011 the south, Battery Street 011 the west, Clav Street north, and Front Street on the east.

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HANGING SIDE FENDERS 8 Maritime Reporter/Engineering News