Page 18: of Maritime Reporter Magazine (September 1977)

BP Invests $50 Million

In Stolt-Nielsen

Stolt-Nielsen, BP Tanker Com- pany, and bankers, together with their lawyers and financial ad- visers, met in Paris on August 2-4, for the signing of the vari- ous documents enabling BP to make its investment in the

Greenwich, Conn.-based specialist chemical shipping and tanker or- ganization. After several months of negotiations and complex re- structuring in the Stolt-Nielsen

Group, BP's loan of $50 million has been made available to Stolt

Tankers and Terminals Inc. It is expected this loan will be con- verted into a 50-percent equity holding in due course.

Stolt-Nielsen will be operated on a completely arm's length basis from BP, and while the

Stolt-Nielsen organization and management remain virtually unchanged, there will be some new faces seen in Greenwich as

BP Tanker Company fills various agreed posts on the board and in the organization.

J.H. Ross will be leaving his present post as assistant general manager (commercial) of BP

Tanker Company to join Stolt

Tankers and Terminals, the hold- ing company, as deputy chairman of the board, and to take up the position of executive vice presi- dent of Stolt-Nielsen Inc., the managing company, where he will report to the president, C.N.

Bjornson. G.A.B. King and R.

Ilian, managing director and gen- eral manager, respectively of BP

Tanker Company, are also ap- pointed to the board of Stolt

Tankers and Terminals, Jacob

Stolt-Nielsen remaining as chair- man and chief executive. The two remaining directors, both to be appointed from Stolt-Nielsen, have not yet been named.

Stuart Butler, George Mulvein and Stanley Symon, at present executives of BP Tanker Com- pany, will move from London to join the organization in Green- wich. No changes in personnel or function are contemplated for the other Stolt-Nielsen offices around the world.

Halter Marine Starts

Construction On Ferry

For Service In Alaska

Halter Marine Services, Inc.,

New Orleans, La., has begun con- struction of a fast 150-passenger touring ferry for use between

Juneau and Skagway, Alaska. The 102-foot all-aluminum 24-mph craft is being built by Halter's

Chalmette, La., division for Wes- tours, Inc. of Seattle, Wash.

The sleek vessel will have over- all dimensions of 102 feet in length, a 22-foot breadth, a 9-foot 6-inch depth, and a normal oper- ating draft of 4 feet 6 inches.

The new Halter-designed boat will be powered by three General

Motors 16V92 diesel engines de- veloping 2,640 shaft horsepower.

The vessel will be equipped with a host of amenities for pas- senger comfort, including reclin- ing seats, all weather air-condi- tioning, snack bar, and excellent visibility throughout.

A Halter spokesman said that while his company is known as the world's largest builder of off- shore supply vessels, the Wes- tours touring ferry is one exam- ple of a wide variety of smaller boats built by three of Halter's eight shipyards.

Sewage Treatment

Brochure From Sigma

Sigma Treatment Systems,

Inc. has published a new eight- page, two-color brochure on shipboard sewage treatment equipment which illustrates and describes the operation, mainte- nance, capacity, models and sim- plicity of installation.

Included are general arrange- ment drawings of two designs and dimensions of six models and four modules. Included is a proc- ess flow diagram and an isometric drawing defining the location and function of 24 important design advantages.

For your free copy, write

George B. Efthimiou, Sigma

Treatment Systems, Inc., 603

Dean Street, Brooklyn, N.Y. 11238.

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