Ogden Marine, Inc. Buys Two Tankers

Ogden Corporation has announced the acquisition of two Americanflag oil tankers iby Ogden Marine, Inc., an Ogden Corporation subsidiary.

The two vessels, the Penn Champion and the Penn .Challenger, acquired through purchasing the stock of Penn Tanker Company from U.S. Industries, Inc., are 37,- 000 deadweight tons and 35,000 dwt respectively.

The purchase price was not disclosed.

With the addition of these two tankers, Ogden Marine's fleet consists of 24 vessels exceeding one million dwt, including tankers, oceangoing bulk carriers, liquid propane gas carriers and freighters.

Eleven additional new vessels will be delivered to Ogden Marine by 1977, increasing the fleet to 35 vessels exceeding two million dwt— of which more than 65 percent will be engaged in transporting oil, liquefied gas and refined products helping to solve the worldwide energy crisis.

These 11 ships have been entirely chartered out for periods ranging from 5 years to 15 years, and are a part of Ogden Marine's continuing program to own and operate a larger fleet of modern and efficient ships.

Maritime Reporter Magazine, page 10,  Feb 1974

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.