Page 50: of Maritime Reporter Magazine (May 15, 1974)

Dravo Names McMurry

Southern Sales Mgr.

For Marine Equipment

E.D. McMurry has been ap- pointed southern sales manager for

Dravo Corporation marine equip- ment. He will be headquartered in

New Orleans, La.

A former sales manager for a division of Exxon Corporation, Mr.

McMurry is a mechanical engi- neering graduate of Vanderbilt

University.

He is a member of the American

Society of Mechanical Engineers,

American Society of Naval Engi- neers, American Society of Lubri- cation Engineers, and the National

Association of Corrosion Engi- neers.

Dravo's Engineering Works Divi- sion designs and builds a variety of inland and coastal waterway ma- rine equipment, including tow- boats, barges and tugboats, at its shipyard at Neville Island, Pa., near Pittsburgh.

Advisability Of

Long-Term Chartering

Discribed To Analysts

Morton P. Hyman, the 38-year- old president of Overseas Shiphold- ing Group (OSG), recently de- scribed how the placing of new shipbuilding orders on a fixed-price basis below those currently pre- vailing, coupled with a policy of chartering their deepsea vessels on long-term period employment, were two of the factors which have en- hanced the competitive ability and earning potential of OSG.

New York security analysts, meeting in the Coachman Restau- rant in lower Manhattan, heard Mr.

Hyman stress the economic feasi- bility of chartering out tonnage for long periods which avoids the some- times sharp rate fluctuations char- acteristic of the spot voyage mar- ket. These long-term deals, he em- phasized, provide the cash flow necessary to service the company's debt, and also enables the firm to acquire and construct additional vessels.

OSG, the largest independent owner of unsubsidized U.S.-flag tankers, also owns and operates an international fleet of very large crude carriers (VLCCs), and dry bulk carriers. As stated in 'his pre- pared remarks to the gathering, the company's newbuilding program for the past several years has fo- cused on the international flag oil carriers.

However, Mr. Hyman noted that the movement of Alaskan crude must be considered as the single most important development in the history of the domestic fleet. In this regard, he declared that the com- pany is well positioned to play a major role in the-transportation of that oil. Six 89,700-deadweight-ton

U.S.-flag tankers have been ordered and are scheduled for delivery through early 1978, at which time the Trans-Alaska Pipeline is ex- pected to be at peak capacity.

He also pointed to legislation

WRITE TO: PEARLSON ENGINEERING CO.

P.O. Box 560008 (8970 S.W. 87th Ct.) Miami, Fla. 33156 U.S.A.

Phone (305) 271-5721 Telex 051-9340 Cable SYNCRO LI FT

May 15, 1974 52 91 SHIPYARDS IIM 39 COUNTRIES NOW

BUILDING, REPAIRING AND LAUNCHING

ALL TYPES OF VESSELS WITH ... syncR0L,FTsf

FOR VESSELS UP TO 60.000 TONS D.W.T. now before Congress which, if en- acted, would further broaden sub- stantially the market for American- flag tankers. The Merchant Marine and Fisheries Committee of the

House of Representatives reported favorably on a bill, H.R. 8193, that would reserve 20 percent of U.S. waterborne oil imports for carriage on U.S.-owned ships if available at reasonable rates. This preference, the OSG official said, would rise to 30 percent by mid-1977. The result- ing requirements, it was stated, would virtually assure full employ- ment for the entire U.S.-flag fleet.

As for the dry cargo bulk trades,

Mr. Hyman singled out as the most important the renewed interest in coal as one answer to further ener- gy requirements. At the present time, roughly 100-million tons of coal move in the international trade, which compares with a world coal output in excess of two-billion tons.

The effect of even a marginal shift to coal from oil, he exclaimed, would be substantial.

In touching on the financial im- plications of the long-term char- ters, Mr. Hyman carefully ex- plained that while operating costs have risen sharply, their impact on

OSG is softened by cost escalation clauses. Where the charter periods are of a shorter duration, then the company's chartering department must be sharp in anticipating ex- penses, he added.

DIRECT SIDE OR

END TRANSFER 500 KW

DIESEL

GENERATORS # DIESEL ENGINES

General Motors, Model 12-278A,

Marine, 720 RPM & AC GENERATORS

General Electric, 500 KW, 440/3/60,

Type ATI 2-COMPLETE UNITS IN STOCK, as re- moved from ex-Navy Cruiser "Worcester."

Units were standby auxiliaries, and are very clean and in good condition.

TURBINE GENERATORS —AC VOLTAGES— 2-1500 GENERAL ELECTRIC Turbines:

Type FN4-FN30, Steam 525 PSIG. 8145

RPM, with G.E. Generators, 1500 KW, 450/3/60. 4-1250 KW, GENERAL ELECTRIC-Tur- bines: Type FSN, 525 PSI, 7938 RPM. Gen- erators: 1250 KW, 450/3/60, 3600 RPM,

Type ABT2. 7-750 KW, GENERAL ELECTRIC Tur- bines,- Type FN3-FN24, .525 PSI, 10,033

RPM. Generators: 750 KW, 450/3/60,1200

RPM, Type ATI. 4-500 KW, GENERAL ELECTRIC Tur- bines: Type FN3-FN20, Steam 375/425

PSI, 6 Stage, 9987 RPM. Generators: 500

KW, 450/3/60, 1200 RPM, Type ATI.

END & SIDE TRANSFER

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