Page 12: of Maritime Reporter Magazine (April 1974)

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Overseas Shipholding

Reports 36% Gain

In 1973 Earnings

Overseas Shipholding Group,

Inc., bulk shipping company whose fleet in worldwide operations aggre- gates 2.2 million deadweight tons, has reported that its 1973 earnings amounted to $20,312,474, a gain1 of 36 percent from the previous year.

OSG stock was split 3 for 2 last

November. Per share income for 1973 was $2.08, and an annual divi- dend of 7 cents a share, payable

April 15 was voted by the directors.

The OSG fleet now includes 39 tankers and dry bulk carriers, and the company has on order 25 ves- sels which will account for a total of 3.5 million tons. Two-thirds of this tonnage has already been placed under long-term charter from dates of delivery.

OSG emphasizes a policy of long-term charters and announced in New York recently that 89 per- cent of its present fleet is chartered through 1974, and more than 70 percent at least through 1976. 1J

Lloyd's Publishes

New Brochure On

Specification Services

Lloyd's Register of Shipping has published a new brochure entitled "Specification Services," which sets out the comprehensive technical supporting services offered by

Lloyd's Register to shipowners, shipbuilders and manufacturers.

The photographs in the booklet illustrate part of the range of ships and structures on which Specifica- tion Services supervision duties have been carried out.

These services, supported by

Lloyd's Register's extensive tech- nical experience in ship construc- tion and marine engineering, are quite distinct from the Society's classification function. They are available all over the world and are coordinated by a separate unit known as Specification Services.

Lloyd's Register of Shipping is located at 71 Fenchurch Street,

London, England, EC3M 4BS. The

New York office is located at 17

Battery Place, New York, N.Y. 10004.

AIMS Elects

Thomas B. Crowley

Board Chairman

Thomas B. Crowley

A key West Coast maritime ex- ecutive who is nationally and in- ternationally known in the tug and barge industry has ibeen elected chairman of the board of the Amer- ican Institute of Merchant Ship- ping (AIMS).

He is Thomas B. Crowley, presi- dent and board chairman of Crow- ley Maritime Corporation, San

Francisco, Calif., representing the largest tug and barge operation on the Pacific 'Coast.

Change in AIMS's leadership was announced by outgoing board chairman Thomas J. Smith, presi- dent and chief executive officer of

Farrell Lines Incorporated, New

York, following AIMS's annual meeting at the Mark Hopkins Ho- tel in San Francisco. It was also announced that the chairman of the AIMS Liner Council will be

Norman Scott, president, American

President Lines, Ltd., San Francis- co, replacing Capt. J.W. Clark, president, Delta Steamship Lines,

New Orleans, La. Remaining as chairman of • the AIMS Tanker

Council and Dry Cargo and 'Coastal

Council will be Capt. Charles M.

Ipynch, manager, marine transpor- tation, Atlantic Richfield Company,

Los Angeles, Calif., and Eugene

Yourch, vice president, Marine

Transport Lines, Inc., New York, respectively.

For more than 40 years, Mr.

Crowley has been associated with the diverse Crowley West Coast maritime enterprises, begun by his father in San Francisco before the turn of the century. The various tug and barge companies under the

Crowley Maritime Corporation are located in several regions of the

Pacific Coast, including Alaska.

His 'famed Red Stack ttjgs handle the docking and undocking of ships in the harbors of Los Angeles,

Long Beach, San Francisco, and

Eureka, while the firm's barge fleet provides harbor and coastwise transportation for all types of car- go. Other Crowley affiliated com- panies include two ship repair yards in Oakland and a passenger transportation business on San

Francisco Bay and in Los Angeles

Harbor. Mr. Crowley's varied op- erations also include specialized contract and common carriage transportation on the East and Gulf

Coasts, plus a deepsea towing serv- ice on a worldwide basis.

Mr. Crowley?s company has for a number of years provided essen- tial shipping services in support of Arctic oil exploration and de- velopment, and in 1968 delivered the first commercial cargo to Alas- ka's North 'Slope. More recently, his seagoing tugs and barges made the biggest Arctic sealift in history when 62 tugs and barges flying the

Crowley houseflag delivered 185,- 000 tons of oil field supplies and construction material to Prudhoe

Bay. Presently, his company is building 16 new 400-foot oceango- ing barges, each with a 12,500-ton cargo-carrying capacity.

In 1970, on recommendation of the Secretary of Defense, Mr.

Crowley received the coveted Na- tional Transportation Award for his company's outstanding work in delivering supplies and equipment to the far-flung military bases of

Alaska. He 'has 'been a board mem- ber of both AIMS and the Ameri- can Bureau of Shipping, has-served as president of the Western Ship- building Association and regional director of the American Water- ways Operators, in addition to serving as a member of numerous other shipping and transportation organizations.

As board chairman of AIMS,

Mr. Crowley assumes the leader- ship of an association organized in 1969 through the merger of three steamship trade associations repre- senting all coasts. As the nation's largest American-flag shipowners' association, AIMS is comprised of 33 companies operating 330 dry- cargo ships, tankers, ore carriers and barges in the foreign, coastal and intercoastal trades. These ves- sels represent over 60 percent of all active, privately owned ships registered under the U.S. flag and aggregate over 7.5 million dead- weight tons.

In addition to Messrs. Crowley,

Scott, Yourch and Captain Lynch,

AIMS board members for 1974 in- clude : Fred S. Sherman, president,

Calmar Steamship Corporation,

New York; L.C. Ford, president,

Chevron Shipping 'Company, San

Francisco; Capt. J.W. Clark, presi- dent, Delta Steamship Lines, Inc.,

New Orleans; O.R. Menton, gen- eral manager, Marine Division, Ex- xon Company, U:S.A., Houston,

Texas; W.C. Brodhead, vice presi- dent, marine industry and govern- ment relations, Gulf Oil Trading

Company, Philadelphia, Pa.;

Adolph B. Kurz, president, Key- stone Shipping Company, Phila- delphia; J.T. Lykes Jr., chairman,

Lykes Bros. Steamship Co., Inc.,

New Orleans; Harmon Hoffman, general manager, marine transpor- tation, Mobil Oil Corporation, New

York; James R. Barker, chairman of the board and president, Moore-

MdCormack Lines, Inc., New

York; J.R. Dant, president, States

Steamship Company, San Francis- co ; and Edward J. Heine Jr., presi- dent, United States Lines, Inc..,

New York.

AIMS officers reelected for the year by the board were James J.

Reynolds, president; Albert E.

Floating Dry Docks

We have been building floating docks since 1877 and are presently constructing a dock with, a lifting capacity of 36,000 tons for a shipyard in the United States.

We also build docks for Supertankers and LNG ships.

Please contact us:



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