Page 10: of Maritime Reporter Magazine (November 15, 1977)

This announcement appears as a matter of record only $28,000,000

Pacific Far East Line, Inc.

Containership Sale and Lease Financing

Funds were provided by:

CI Transportation Leasing Corporation

A subsidiary of Continental Illinois Leasing Corporation

Lead Owner Participant

Greyhound Leasing & Financial Corporation

MDFC Equipment Leasing Corporation

A subsidiary of McDonnell Douglas Finance Corporation

We initiated this transaction and acted as financial advisor to

Pacific Far East Line, Inc.

Warburg Paribas Becker

Incorporated

October. 3977

This announcement appears as a matter of record only. $16,053,000

IOT Corporation through its wholly owned subsidiaries

Interstate Marine Transport Co. and Interstate Towing Co.

United States Government Guaranteed

Ship Financing Bonds

Sinking Fund Bonds due 1982,1985,1987 & 1992

We have arranged the placement of these securities with institutional investors to assist in the financing of four tugboats and three tank barges.

Warburg Paribas Becker

Incorporated

September, 1977

CONGRESSMAN MURPHY HONORED —

Robert J. Hughes, left, chairman of the board of The New York Towboat & Harbor

Carriers Association, is shown presenting a testimonial gavel plaque to Congressman

John M. Murphy, right, Chairman of the

Merchant Marine & Fisheries Committee of the House of Representatives, at a recent luncheon tendered by the Association to

Congressman Murphy, as Harold A. Rei- nauer, center, chairman of the Luncheon

Committee, looks on.

New England Section Hears

Paper On Propeller Design

After a social hour and dinner, the first meeting of the fall technical program of the New England Section of The Society of

Naval Architects and Marine Engineers was called to order by Section chairman Harry

Jackson. He announced the formation of the first student section of SNAME, located at the U.S. Coast Guard Academy, New Lon- don, Conn., and introduced the chairman of the student section, Cadet 1/C Kevin Nugent.

The author, Michael Triantafyllou (center), discusses his paper with Harry Jackson, Section chairman (left), and Bob Mende, SNAME secretary.

Robert G. Mende, national secretary of

SNAME, and Keatinge Keays, chairman for the 1978 Spring Meeting, addressed the sec- tion on the plans and progress of the 1978

Spring Meeting, to be held at the U.S. Coast

Guard Academy.

The technical paper for the evening was then presented by Michael S. Triantafyllou, a graduate student at M.I.T. He presented a paper entitled "Computer Aided Preliminary

Propeller Design, Using the B-Series." A particularly interesting feature of his work was the method for calculating the optimum pitch ratio for a propeller, including con- sideration of shipping routes and expected weather conditions. Furthermore, the calcu- lations included corrections for laminar flow effects encountered when predicting full- scale performance from model test data.

Copies of the paper are available from

Lt. Comdr. James A. Sanial (USCG), De- partment of Engineering, U.S. Coast Guard

Academy, New London, Conn. 06370. 12 Maritime Reporter/Engineering News