Page 53: of Maritime Reporter Magazine (September 1974)

Freighters Inc. Asks

MarAd Approval To Purchase

Consolidated's PFEL Stock

Subject to Maritime Administration ap- proval, Freighters, Inc., headed by John

Alioto, son of San Francisco's Mayor Joseph

Alioto, has agreed to purchase the 49.9 per- cent share of Pacific Far East Line, Inc., now held by Consolidated Freightways, Inc.

In 1969, controlling interest in PFEL was acquired by Consolidated Freightways at a price of $24 million, and in September 1973

Consolidated wrote down its PFEL stock to $3 million, at which time it was offered for sale.

Mr. Alioto's firm presently owns only one ship—the 24,345-dwt bulk carrier American

Wheat. Freighters, Inc. would get Consoli- dated's shares of PFEL stock at a price of $10 per share, for a total of $4,622,660. If the necessary MarAd approval is obtained,

Mr. Alioto said applications will then be sub- mitted for subsidized operation of PFEL on two new routes, from West Coast ports to

Indonesia and mainland China. The line pres- ently operates on two routes to the South

Pacific and the Far East.

Matson Navigation Names

Walter Leong Port Engineer

Walter Leong has been appointed port engineer for Matson Navigation Company in the Port of Los Angeles. He succeeds Rich- mond Barker, who is retiring.

Mr. Leong, who was born in Honolulu, has sailed on Matson vessels for more than 30 years. He was chief engineer on the roll-on/ roll-off trailership Matsonia before the as- signment to the shoreside post.

Litton Industries Offers

Erie, Pa. Shipyard For Sale

Litton Industries has announced that it has terminated its Erie Marine operations and will seek to sell the Erie, Pa. shipyard. "We came to this decision very reluctantly, after an all-out effort to make this new yard a strong and viable enterprise," a Litton spokesman said. "We are grateful for the fine support of the people of Erie and of the

Commonwealth of Pennsylvania."

The Erie yard has been on standby, with a small nucleus of employees, for the past several months while the company was en- gaged in negotiations for a major shipbuild- ing contract. When these negotiations proved unproductive and were terminated recently,

Litton decided to sell the facility.

A company spokesman said there have been earlier expressions of a strong interest from prospective buyers of the shipyard.

Litton declined to identify the prospective buyers or to estimate when the yard might be sold.

The Erie Marine yard, a 200,000-square- foot facility for modular construction of very large Great Lakes carriers, was com- pleted in January 1969, at a cost of approxi- mately $20 million. This includes a $10- million expenditure by Litton, plus approxi- mately $10 million of Commonwealth of

Pennsylvania funding, through a 25-year loan in September 1967 to Litton through

EIDCO (Erie Industrial Development Cor- poration). Approximately $8 million of this loan remains outstanding and will be repaid,

Litton said.

Erie Marine produced the first of 1,000- foot-long Great Lakes ore carriers, the Stew- art J. Cort, for Bethlehem Steel Corporation, and a 1,000-foot-long tug-barge, the Presque

Isle, now operated by Litton under a long- term transport contract with U.S. Steel Cor- poration. The Cort began its service on the

Lakes in April 1972, and carried more than 2-million tons of iron ore pellets in its first two seasons. The Presque Isle, which also carries more than 50,000 tons of ore cargo per trip, made its maiden voyage in Decem- ber 1973, and returned to service early this season, in April.

At its peak, Erie Marine employed more than 300. Eight employees will now be re- tained in Erie for administration of Litton

Great Lakes Corp. and for routine mainten- ance of the yard. The company will assist its terminated employees in seeking new jobs with other area employers.

Delaval Publishes Bulletin

On IMO 3-Screw Pumps

IMO Pump Division of Delaval Turbine

Inc. has published a six-page illustrated bul- letin on IMO 3-screw pumps for use in fuel transfer, boost and burner service. Perform- ance data (discharge pressure vs. capacity) are given in separate plots for single-end and double-end IMO pumps. Typical con- soles and installations are illustrated.

The bulletin is available gratis from IMO

Pump Division, Delaval Turbine Inc., P.O.

Box 321, Trenton, N.J. 08602. 0eCAW°

Around the clock. Turecamo's modern fleet of fast, pow- erful tugs stand ready to instantly provide you with the very best in towing services. Added to this are the years of invaluable ex- perience docking and undocking ships of all sizes and in every phase of towing operations.

When you want fast, efficient and economical service...Call

Turecamo First.

DOCKING • UNDOCKING • harbor, sound, coastwise, canal and lake towing

TURECAMO COASTAL & HARBOR TOWING CORP. 1752 SHORE PARKWAY, BROOKLYN, N.Y. 11214 • TEL: (212) ES 2-5200

MATTON

TRANSPORTATION CO .

INC

TURECAMO

TRANSPORTATION CORP

MATTON

SHIPYARD CO . INC

TURECAMO TANKERS

INC

September 1, 1974 19