Page 18: of Maritime Reporter Magazine (October 15, 1977)

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This announcement appears as a matter of record only. $19,604,000

Leveraged Lease Ship Financing

Biehl Offshore, Inc. (Bareboat Charterer)

Smit-Lloyd BV (Time Charterer)

We have arranged this 15-year financing, including the placement of $13,715,000 of United States Government Guaranteed Ship

Financing Bonds and $5,889,000 of lease equity interests, for the acquisition and charter of two towing /anchor-handling supply vessels.

Warburg Paribas Becker


September, 1977

BLUDWORTH SHIPYARD 8502 Cypress Street/P. O Box 5426/Houston. Texas 77012/(713) 928-5051

CLASS LEADER GOES TO SEA — The guided missile frigate Oliver Hazard Perry (FFG7) cast off from the Bath Iron Works and set to sea Tuesday, September 27, on her first sea trials. The gas turbine-powered ship is the prototype of a new class of escort combatants which the Navy expects to eventually number more than 70 ships. BIW presently holds contracts for eight additional FFGs, and options on three more. During this three-day set of preliminary trials, the Perry's home port was Portland's Hussey Sound before returning to the shipyard. Additional trials are scheduled prior to Navy acceptance of the ship.

In the Heart of Houston's Ship Channel

Bludworth specializes in marine repairs; sandblasting and painting; and construction of inland and offshore marine equipment.

Located on Brady Island on the Houston Ship Channel. • Two (2) Drydocks: 1 -1500 tons (76' x 150 ) 1 -1200 tons (76' x 130 ) • Three (3) Marine Railways: 1000 to 2000 tons • Covered Fabrication Facilities • 4000 Feet of Water Frontage

Subsidiary of

Newpark Resources, Inc. Bludworth shipyard, inc.

ALL ABOARD — Several of Raytheon Ma- rine Company's Latin American dealers took a moment for photos during the electronic firm's recent sales meeting at its headquar- ters in Manchester, N.H. Shown aboard the

Raytheon test vessel Walter E. Phipps, are from left: Jorge Scrigna of Rayo Electronica

Ltda., Argentina; Richard V. Warden, pres- ident of Raytheon Marine Company; Jaime

Rozenblum, also of Rayo Electronica; Claudio

Propper (kneeling) of Electronica Ltda., in

Chile; Cesar Davila of Samuel Davila, S.A., in Peru, and Herb Myers of Radar Electric in Seattle, Wash. 20 Maritime Reporter/Engineering News

Maritime Reporter

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