Page 4: of Maritime Reporter Magazine (August 1973)

Maritime Fruit Orders 24 Tankers In Venture

With Swan Hunter

Maritime Fruit Carriers Company

Limited has announced that it has completed financial arrangements for its joint venture with Swan Hunter

Group Limited of Great Britain. The joint company, known as Swan Mari- time Company Ltd., was established to engage in the purchase, sale, leas- ing and financing of vessels and has already executed shipbuilding con- tracts with Swan Hunter Shipyards for the purchase of 24 oil tankers.

The vessels involved range in size from 31,000 deadweight tons to 261,- 000 deadweight tons and are sched- uled for delivery from 1974-78. They are eligible for receipt of British

Government guarantees to finance 80 percent of the cost price of each ves- sel, providing it flies the British flag, and 80 percent of the sale price of each vessel sold for export. Swan

Maritime also holds options for the construction of additional tankers which would be delivered in 1978-80.

Swan Maritime will be capitalized at approximately $26.5 million; its shares will be owned 65 percent by

Maritime Fruit Carriers and 25 per- cent by Swan Hunter Group, the largest shipbuilders in Great Britain.

In addition, 10 percent has been re- served for Hutchison International

Company Ltd. of Hong Kong, with whom negotiations are currently in progress.

Maritime Fruit Carriers' equity in- vestment in Swan Maritime has been primarily funded by a loan from the

First National Bank of Boston for $25 million.

Maritime Fruit Carriers Company is an international organization spe- cializing in refrigerated shipping and oil transportation. Through its Uni- versal Gas & Oil Company subsid- iary, the company will also engage in the transportation of liquefied gases.

Swan Hunter is the largest group of its kind, employing 25,000 people.

It owns shipbuilding and ship repair- ing yards on the northeast coast of

England as well as in Scotland. Swan

Hunter also has worldwide ship re- pairing interests.

Columbus Line

Names McCallum

Canadian Director

Neil McCallum

Neil McCallum, well-known in the container trade 'between North

America and Australia and New

Zealand, has been named by Clarke

Transportation Canada Ltd. as the new director 'for iColumibus Line,

Canada.

Mr. McCallum, who has worked both in Canada and the United

States, brings to his new post some 20 years of experience with Austra- lian and New Zealand markets.

He began his North American maritime career in Montreal in 1961. Prior to joining 'Columbus, he was assistant director with Dart

Containerline in Canada.

Born in England, Mr. McCallum spent much erf his life in New Zea.- land, where he worked during the 1950s in that country's shipping industry.

New Greek Offices

For U.K.-Based Firm

A branch office in Greece has been opened in Piraeus by Wilson Walton

International Limited, the Croydon- based company which specializes in design, supply and installation of systems for the safe and efficient op- eration of ships. Of particular cur- rent interest is the Wilson Walton/

Airscrew inert-gas system designed to prevent explosions in vessels en- gaged in the carriage of oil and asso- ciated . products, with special empha- sis on VLCCs.

A.R. Greaves has taken charge of the Greek operation, and the ad- dress of his office is: Wilson Walton

International Limited, 11-15 Filelli- non Street, Piraeus, Greece.

Look for the Big-Big

From Sakaide Works

Kawasaki Heavy Industries' Sakaide

Works is able to build or repair any type and any size vessel. The ship- yard's two building docks (No.1 and

No.3) stand in a row. Ships up to 350,000 DWT can be accommo- dated at the No.1 dock.

The No.3 dock facility will accom- modate ships up to 600,000 DWT.

The No.2 dock is used exclusively as a repair facility for ships up to 500,000 DWT.

In all, KHI's Sakaide Works deserves the world's spotlight as truly the most complete, most diversified shipyard.

SHIP SALES DIVISION: • Tokyo Office: 4-1, Hamamatsu-cho 2-chome, (World Trade Center Bldg.) Minato-ku, Tokyo, Japan. Telex-122672 • Overseas Offices: LONDON, NEW YORK, HONG KONG, SYDNEY. 6 Maritime Reporter/Engineering News