Page 9: of Maritime Reporter Magazine (January 15, 1980)

2 Drilling Rigs Ordered

From Gotaverken Arendal

Saleninvest of Sweden an- nounced recently that it had or- dered two jackup oil drilling rigs from Gotaverken Arendal, Gote- borg, Sweden. The order is worth

SKr 250 million (£27.26 million).

The rigs are due for delivery in 1980 and 1981. Salen Energy, the energy subsidiary of Saleninvest, is already operating one jackup rig and one platform rig in the

Gulf of Mexico. A further rig, due for delivery in 1980, is under construction in a Canadian ship- yard.

Swanson Named To New

Matson Navigation Post

In Washington, D.C.

Matson Navigation Company has appointed Eugene R. Swanson to the position of vice president- director, government affairs, in

Washington, D.C., effective De- cember 14, 1979, it was announced by James P. Gray, president. tries engaged in the economic de- velopment and use of marine re- sources.

Mr. Boling, a registered profes- sional engineer and past Section chairman of the Society of Petro- leum Engineers, joined C-E Natco in 1951. C-E Natco is a leading designer and manufacturer of pe- troleum production processing systems.

Mr. Kent, a director of the In- ternational Association of Drill- ing Contractors, has served as president of Reading and Bates

Drilling Company since it was formed as a new operating sub- sidiary in 1972. Reading and Bates

Corporation, of which Mr. Kent is a director, is engaged in off- shore and onshore contract drill- ing, oil and gas exploration and production, oil and gas pipeline construction, and coal mining.

Membership in the National

Ocean Industries Association is open to those companies or indi- viduals who seek to foster maxi- mum development of the oceans' resources through business enter- prise. Members include companies involved in all phases of ocean activities, including drilling, ma- rine and air transportation, fish- ing, geophysical exploration, serv- ice, manufacturing and equipment supply, petroleum production, gas transmission, shipyards, and others.

Eugene R. Swanson

Mr. Swanson, formerly vice president, general sales manager, will succeed John R. Kuykendall, who died recently after 10 years as Matson's Washington repre- sentative.

Mr. Swanson, who started his transportation career in the rail- road industry, joined Matson in 1960 as Chicago district freight sales manager, and became East- ern area sales manager in 1967.

He served as marketing director for Matson's Far East freight service before he was named gen- eral sales manager of the Hawaii service in 1970. He was elected a vice president in 1975.

Kent And Boling Elected

To The NOIA Board

W.D. Kent of Houston, Texas, and Don Boling of Tulsa, Okla., have recently been elected to the board of directors of the National

Ocean Industries Association, headquartered in Washington,

D.C. Mr. Kent is the president of

Reading and Bates Drilling Co., and Mr. Boling is senior vice pres- ident for Marketing and Field

Operations of C-E Natco. NOIA, with over 400 members, is the only national trade association representing all facets of the off- shore and ocean-oriented indus-

One of the biggest names in ships is GECC.

General Electric Credit Corporation has a boatload of solutions for financing ships that sail the high seas, ships that sail the Great Lakes, the yards that build them, the tugs that pull them and the equipment that handles their cargoes.

At General Electric Credit Corporation, we take to marine financing like a duck takes to water.

GECC is a versatile company. We offer secured loans, operating leases, leveraged leases, and many other kinds of off-balance sheet financing.

GECC is a $7 billion company. That means we're big enough to finance or lease tankers (add up the deadweight tonnage and we own the largest fleet under the U.S. flag), tugs, barges, cargo ships, cargo- handling equipment, offshore rigs and the vessels to service them, shipyards, drydocks and a lot more.

GECC knows marine financing from stem to stern.

We can build a financing package flexible enough to meet your needs today and help you grow tomor- row. And we're not afraid to get untraditional where traditional financing won't fill the bill.

Find out for yourself what makes GECC one of the biggest names in ships. Call Tom Harahan at (203) 357-4329. Or write:

General

Electric

Credit

CORPORATION

Administrative Offices 260 Long Ridge Rd • Stamford, CT 06902

One of the biggest names in almost everything. »OM

January 15, 1980 11