Page 7: of Maritime Reporter Magazine (July 1978)

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Mar Ad Approves

Offshore Logistics

Title XI Guarantee

Deputy Assistant Secretary-

Samuel B. Nemirow, U.S. Depart- ment of Commerce, Maritime Ad- ministration, has approved in principle the application by Off- shore Logistics, Inc., 1001 Pin- hook Road, Lafayette, La., for a

Title XI guarantee to aid in fi- nancing the construction of four 210-foot, ocean towing vessels.

Offshore Logistics has ar- ranged for sale-lease financing, using Continental Illinois Na- tional Bank and Trust Company as owner trustee. The owner trustee will own the vessels for the benefit of Continental Illinois

Leasing Corp., which will bare- boat charter the vessels to Off- shore Logistics. The charters will be for 25 years on a "Hell and

High Water" basis.

The vessels are being con- structed by J. Ray McDermott &

Co., Amelia, La. They are rated at 2,900 horsepower, and will have a service speed of 12 knots.

Offshore Logistics will employ the vessels initially in the Gulf of Mexico, and later off the U.S.

Atlantic Coast. They will be op- erated by an affiliate of the com- pany.

The estimated actual cost of each vessel is approximately $3,350,000. The Title XI guaran- tee will cover 87% percent of the actual cost.

IACS Elects Hildrew

Chairman For 1979-80

Bryan Hildrew

At the 11th IACS Council Meet- ing in May, Bryan Hildrew, man- aging director of Lloyd's Register of Shipping, was unanimously elected chairman of the Inter- national Association of Classifi- cation Societies for the next biennial term (1979-1980).

The Member Societies of IACS are American Bureau of Ship- ping, Bureau Veritas, Det norske

Veritas, Germanischer Lloyd,

Lloyd's Register of Shipping, Nip- pon Kaiji Kyokai, Polish Register of Shipping, Registro Italiano

Navale, and USSR Register of


Associate Members are Yugo- slav Register of Shipping, Korean

Register of Shipping, and DDR-

Schiffs-Revision und Klassifika- tion.

July 1, 1978 15 plied by


Metli ane Pioneer

Meth ane Princess

Methane Progress

Esso Brega

Esso Portovenere

Esso Uguria

Laiet i

Desc irtes Above: El Paso Southern, Newport News Shipbuilding, launched in 1977.

Below: El Paso Columbia, Avondale Shipyards, launched in 1976.

Gadi a

Gari I

Char 3S





El Paso

El Pajso

El Pajso

El Pako

El Pa >o

El Pa so





Robert Hague Post

Guard Of Honor Ball Set

For Oct. 21 At Waldorf

Comdr. Christian A. Bendixen,

Robert L. Hague Merchant Ma- rine Industries Post #1242, Amer- ican Legion Department of New

York, has announced the date of that Post's 38th Annual Guard of

Honor Ball, to be held at the

Waldorf-Astoria's Grand Ball- room, Saturday, October 21, 1978, in New York City.

James A. Farrell Jr., chairman of the board, Farrell Lines In- corporated, will be the guest of honor and receive the American

Legion's Distinguished Service

Citation for a lifetime of service to the American merchant marine and the maritime industry. Com- mander Bendixen said that Mr.

Farrell was awarded the Hague

Post's American Merchant Marine

Achievement Trophy in 1964.

He also said that only two other executives have received the dual honor in the more than a quarter- century of the awards. They were

Adm. John M. (Dutch) Will, and

Thomas J. Smith of Farrell Lines.

Considered to be the highlight of the maritime industry year, the ball has been held in the

Waldorf since 1946, and draws a crowd of 1,000 annually.

Maritime Reporter

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