Page 5: of Maritime Reporter Magazine (October 1973)

General Electric

Credit And Leasing

Appoints J.L. Puckett

Jerry L. Puckett

Jerry L. Puckett has been ap- pointed as a marine specialist sales- man with the Houston, Texas, of- fice of General Electric Credit and

Leasing Corporation. Mr. Puckett has 10 years of experience with the company in marine financing, and has worked with General Elec- tric Credit and Leasing in New Or- leans, La., Dallas, Texas, and Se- attle, Wash.

Waterman Seeks

Subsidy To Build 4 77,500-Dwt OBOs

An application requesting Gov- ernment funds to cover the pro- posed construction of four 77,500- dwt ore/bulk/oil carriers (OBOs) has been filed with the Maritime

Subsidy Board by Waterman Ma- rine Corporation.

The New York-based corpora- tion said the company is now in ne- gotiations on where and when the ships might be built.

A subsidiary of the company,

Waterman Steamship Corp., also made a filing with the Subsidy

Board for operating differential subsidies to cover up to 30 sailings annually between the United States and the Far East. The operating differential subsidies would apply to breakbulk vessels, which are eventually due 'to be replaced by the lighter-taboard-ship (LASH) vessels.

Waterman also asked that its

OD.S contract on Gulf to Far East sailings, due to expire in 1975, be replaced with a long-term ODS agreement. $22,500,000 Order

To Govan Shibuilders

For Two Bulk Carriers

Britain's Govan Shipbuilders, the successor company to Upper Clyde

Shipbuilders, has won an order of about $22,500,000 for two stand- ard-design Cardiff-class bulk car- riers.

The 26,000-ton vessels, ordered by the East Asiatic Company of

Denmark, are due for delivery in 1975 and brings Govan's total or- der book to 15 ships worth about $150,000,000.

Earlier this year, the company joined forces with the World-Wide

Shipbuilding Group of Hong Kong to establish a Far East agency for the sale of standard-design ships.

October 1, 1973 7

Contracts Signed

For Giant Drydock

Complex For Dubai

Vessels of up to 1,000,000 tons will be able to use a giant drydock complex scheduled to be built soon at Dubai on the Arabian Gulf at a cost of £90,000,000 (approximate- ly $220,000,000).

Agreements for the construction of the complex, one of the world's largest, were signed in London on

September 12 by representatives of the Dubai Dry Dock Company and

Richard Costain and Taylor Wood- row, construction groups.

Providing berths for eight very large carriers (VLCCs) and dry- dock accommodation for million- ton tankers, the complex will cost

Dubai an estimated £91,000,000.

Besides repair and maintenance fa- cilities,. the scheme also embraces a 4,000 meter breakwater and nec- essary support buildings for engi- neering, stores, general service and administrative office's.

The project is in line with Du- bai's policy of investing revenue from her oil resources in facilities for future commercial development —in this case the coming of the first million-ton oil tanker.

Consulting engineers for the project are Sir William Halcrow and Partners. Financial arrange- ments are being undertaken by the

London merchant bankers Lazard

Brothers and Company.

If we tried to tell you that packing of TEFLON* fiber was at least 4 times as good as the best conventional packing you would want proof.

About four years ago, the American

Oil Company tested packing of

TEFLON® TFE fluorocarbon fiber on their lake tanker operation. This operation transports petroleum on a 10 month a year

Conventional valve packing was being replaced each season. A packing that lasted a full season was considered very good.

Then they tried

TEFLON fiber. The packing of TEFLON fiber easily lasted the first season. Then it lasted the second season.

No one could believe it. So they pulled packing from some of the pumps and valves. It looked good so they left the rest as is. Packing of TEFLON fiber has lasted through the four year test period or about four times longer than the best conventional packing materials.

Performance like this is not unusual for packing of TEFLON fiber. In many tests

TEFLON f~ ' '

They said this new packing was good, but I'd never believe it'd be this good." materials 5,10 even 15 times.

Packing of TEFLON fiber comes in two basic forms ... soft and hard. The soft form is good for pressures up to 2500 psi and shaft surface speeds to 1200 fpm. The hard form can take pressure to 5000 psi and shaft speeds of 600 fpm. Both forms can operate from —400° to +550°F.

Both are highly resistant to virtually all industrial chemicals and fluids. Both meet

MIL-P-24396 (SHIPS) 15 Sept. 1970. Both can substantially reduce your pump and valve packing problems.

The next time you order packing, why not test packing x>r~ ~ of TEFLON fiber. If you'd like more proof first, write Du Pont Co., Eden

Park Bldg., 15690 New Castle Ave., Wilming- ton, DE 19898, Attn. L. B. Gates, for a free copy of "Save time! Save money! With pack- ings made from TEFLON® fiber." In Europe, write: DuPont de Nemours

International S.A., Geneva 24,

Switzerland. fiber outperformed conventional *Du Pont's registered trademark for its TFE fluorocarbon fiber.

Here's some proof.