Page 26: of Maritime Reporter Magazine (November 1973)

C.I.T. To Explain

Financing At 73

Fish Exposition

The benefits of financing and leasing as a means of acquiring vessels and equipment used in the commercial fishing, marine and sea- food industries will be explained by officials of C.I.T. Corporation and

C.I.T. Leasing Corporation at the 1973 American Commercial Fish

Exposition November 25-28 in New

Q j-q ixs T cl

C.I.T.'s delegation in Booth 902, headed by Charles F. Hodgins,

C.I.T. vice president and head of the companies' New Orleans divi- sion, will explain how the financing plans make it possible for ma- chinery and equipment to help pay for itself through added income. "With modern, efficient machin- ery, changing consumer and indus- try needs can be met," observed

Mr. Hodgins. "Besides learning about leasing plans, those attending the show will also find out about the manner in which they can profit from financing equipment, includ- ing payment plans geared to sea- sonal factors."

C.I.T. Corporation and its affili- ate, C.I.T. Leasing Corporation, enable business, industry and the professions to acquire machinery and equipment, or meet other ex- pansion needs, through installment

Original design

Worldwide su«ess:

S.EJH.T. PIE1STKK

In service in the best Shipping Companies

S.E.M.T.-Pielstick offers 25 years of experience and success with its medium speed Diesel en- nes of the PC type in a wide range of power rom 3,000 to 17,100 HP.

The S.E.M.T.-Pielstick, engines of the PC type of advance technique are : compact endurant economical (they run on heavy fuel)

With 18 licensees all over the world, 50 ap- pointed repairers, 11 production centers, the

S.E.M.T.-Pielstick engines are present and avai- lable all over the world.

Chantiers de I'Atlantique dSpartement moteurs 2, Quai de Seine - 93-Saint-Denis T§l 82061 91

TSlex 62 333 F Motlan

IT'S

TRAC0RI

SHIPYARD

A full capacity shipyard - large enough to serve all your needs, small enough to assure personalized attention to all work details.

Annual drydocking and routine maintenance? Unfor- seen or emergency repairs? Whatever your need, we are ready to get your ships back on schedule with the minimum down time.

P.O. Box 13107

Port Everglades Station

Port Everglades, Fla. 33316

Phone (305) 523-2546

TWX 510-955-9864

Tracor Marine

BUILDING A NEW BOAT ? caU Mottfoa first •

Matton Shipyard Company, Inc. offers complete facilities for all new construction of vessels up to 200 feet in length. • Repairs • Conversions • Overhaul

For your next new vessel or repair job

Matton first. call

MATTON SHIPYARD COMPANY INC.

P. O. Box 428, Cohoes, New York 12047

Tel: 518 CE 7-3911 financing, inventory and accounts receivable financing, leasing and sale-and-leaseback programs.

Both are subsidiaries of C.I.T.

Financial 'Corporation, a multi-line financial services company with as- sets of more than $3.5 billion.

Ocean-Oil Appoints

Albert Westerman VP

Albert B. Westerman

Hector V. Pazos, P.E., president of Ocean-Oil International Engi- neering Corporation, New Orleans,

La., has announced the appoint- ment of Albert B. Westerman as vice president in charge of the firm's

Marine Survey and Inspection Divi- sion, recently formed as part of their expansion program.

Mr. Westerman, born in Phila- delphia, Pa., has completed studies at Spring Garden Institute, New

Jersey State College of Commerce, the University of Maryland, Bucks

County Technical Institute, and

Tulane University.

Mr. Westerman recently returned from England, where he served as general manager to Weldit Engi- neering (Offshore) Ltd., a North

Sea oil field-oriented engineering and construction company engaged in projects for Phillips Petroleum's

Ekofish Field, Pel-Lyn's Pentagon

Drilling Rig Construction, Amoco

Platforms, and J. Ray McDermott.

Prior to this, Mr. Westerman has been engaged by several petroleum and marine related corporations.

Mitsubishi To Build

Three Tankers For

Atlantic Richfield

Atlantic Richfield Company has announced that contracts were signed for construction of three oil tankers totaling 420,000 deadweight tons to be built by Mitsubishi

Heavy Industries, Ltd., Tokyo.

Scheduled for delivery in the spring and summer of 1977, the order comprises two 150,000-dead- weight-ton tankers and one 120,000- deadweight-ton tanker of foreign registry, Byron E. Milner, vice president, crude supply and trans- portation said. The cost was not disclosed.

Mr. Milner said the order repre- sents the first phase of a long-range plan to expand Atlantic Richfield's foreign tanker fleet, which currently totals six vessels equaling 308,000 deadweight tons.

Expansion is necessary, Mr. Mil- ner added, so the company can transport a growing volume of for- eign crude oil being imported to meet burgeoning domestic energy needs. 32 Maritime Reporter/Engineering News