Page 4: of Maritime Reporter Magazine (October 15, 1978)

C.Y. Tung Group Enlarges

Fleet To 118 Vessels

The Hong Kong Trade Devel- opment Council reports that the

C.Y. Tung Group has recently- enlarged its fleet with the pur- chase of 20 secondhand vessels having a combined total tonnage amounting to over two million.

These ships were acquired last year, mostly from Scandinavian owners, and are mainly tankers of handy size, OBOs (oil-bulk-ore carriers). All 20 ships, with an average age of two to three years, have been placed on charters with international companies, including among others U.S. Steel and Per- tamina. With this new acquisi- tion, the C.Y. Tung Group's total strength is put at 118 vessels and now becomes the second largest shipowning company in Hong

Kong—trailing only Y.K. Pao's

World-Wide Shipping, which owns 180 ships totaling 18 million tons.

In commenting on current mar- ket conditions in the shipping industry, Mr. Tung noted that there are signs of recovery in the tanker market as inquiries for

VLCCs (very large crude carriers) and ULCCs (ultra large crude carriers) in the spot market are active. The reason for this in- terest is partly due to the storage program of Japan and partly be- cause of the threat of an oil price increase. Japan's storage program revolves around the use of idle tankers as floating storage for oil, as well as other purposes. Mr.

Tung estimates that it will even- tually take about 10 million tons off the market this year. On the other hand, in anticipation of a price increase, oil transport out of the Arabian Gulf has stepped up since June to more than double the amount in the same month last year.

Bath Iron Works Names

Allan G. Anderson

John F. Sullivan, president of

Bath Iron Works Corporation,

Bath, Maine, has announced the appointment of Allan G. Ander- son to the newly created position of manager of market planning and development.

Allan G. Anderson

Mr. Anderson reports to James

Harvie, marketing manager, and is responsible for developing and marketing non-shipbuilding prod- ucts.

A veteran maritime executive,

Mr. Anderson was president of

Underseas Engineering, Inc., Ri- viera Beach, Fla., specializing in oceanography and research sub- marines, and assistant to the vice president of Bell Aerospace, New

Orleans, La., responsible for re- search and development of a 2,000-ton Surface Effect Ship.

He joined Bath Iron Works from the Quincy, Mass., Ship- building Division of General Dy- namics, where in his final man- agement assignment he directed and internationally marketed a unique floating concept for stor- age and regasification of liquid natural gas.

His other management respon- sibilities with his immediate past company include ships' manager for constructing 10 LNG ships, program manager for design and construction of research subma- rines such as the Aluminaut and

Asherah, and manager of devel- opment engineering for such pro- grams as the Skip-1 Air Cushion

Vehicle.

Mr. Anderson holds a Bachelor of Science degree in chemical en- gineering from Columbia Univer- sity, and has taken postgraduate study at Massachusetts Institute of Technology, Trinity College, and Pennsylvania State Univer- sity.

He is a member of The Amer- ican Society of Mechanical Engi- neers, Marine Technology Society, and The Society of Naval Archi- tects and Marine Engineers.

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Systems Inc. 6 Maritime Reporter/Engineering News