Page 8: of Maritime Reporter Magazine (December 15, 1980)

$107,700,000 (Maximum Amount)

Leveraged Lease Financing of

Oxy Trader

Oxy Producer

Oxy Grower

Three 41,000 deadweight ton integrated tug-barge ves- sels to be bareboat chartered to wholly -owned indirect subsidiaries of, with bareboat charter hire guaranteed by •XY Occidental Petroleum Corporation

Kidder, Peabody & Co. Incorporated acted as financial advisor to Occidental Petroleum Corporation and its affiliates in this transaction. The following securities it-ill be issued in connection therewith.

This is neither an offer to sell nor a solicitation of an offer to buy these Bonds.

The offer of the Bonds is made only by the Offering Circular. $64,700,000

United States Government Guaranteed

Ship Financing Bonds

Consisting of $55,825,000 13.45% Sinking Fund Bonds, Series A.

Due Not Later Than December 31,2006 and $8,875,000 13.50% Sinking Fund Bonds, Series B,

Due Not Later Than December 31,1990*

Oxy Trader

Oxy Producer

Oxy Grower

Series A Bond,

Due Not Later Then

December 31. 200ft $18,500,000 18,675,000 18,650,000

Series B Bond*

Due Not Later Thar

December 31. 1990' $3,025,000 2,900.000 2,950,000

Total $21,525,000 21,575.000 21,600,000

Kach issue of Bonds will he issued by an owner trustee for a separate owner trust created with respect to one of the foregoing \essels.

Payment i. as amended, which expressly provides that The full faith and credit of the United States is pledged to the payment of all guarantees made under this title with respect to both principal and interest, including interest, as may be provided for in the guarantee, accruing between the date of default under a guaranteed obligation and the payment in full of the guarantee

Price 100% (Interest Accrues from Date of Issue)

Copies of the Offering Circular may be obtained in any State in which this announcement is circulated only from such of the underwriters as may lawfully offer these securities in such State.

Bache Halsey Stuart Shields

Kidder, Peabody & Co.

Incorporated

The First Boston Corporation

Dillon, Read & Co. Inc.

Goldman, Sachs & Co.

Blyth Eastman Paine Webber

Drexel Burnham Lambert

Incorporated

Uzard Freres & Co. Lehman Brothers Kuhn Loeb

L. F. Rothschild. Unterberg, Towbin Salomon Brothers

Bear, Stearns & Co.

Donaldson, Lufkin & Jenrette

Securities Corporation

E. F. Hutton & Company Inc.

Merrill Lynch White Weld Capital Markets Group .Merrill L> neb. Pierce. Fenner A Smith Incorporated

Shearson Loeb Rhoades Inc.

SmithBarney,HarrisUpham&Co. WarburgParibasBecker Wertheim&Co.,Inc. DeanWitterReynoldsInc.

A. a Becker 'Kidder, Peabody Et Co. Incorporated is the sole underwriter of the SS.S7S.000 13.S0'Sinking Fund Bonds, Series B. $43,000,000 (Maximum Amount)

Owner Certificates

Kidder, Peabody & Co. Incorporated arranged commitments for the purchase of these Owner Certificates to be issued as required upon the delivery of each of the three vessels.

Kidder, Peabody & Co.

Incorporated

November 19, 1980

HUDSHIP Delivers 112-Foot Lamnalco Merlin

Hudson Shipbuilders, Inc. (HUDSHIP) of Pascagoula, Miss., recently delivered the utility ves-

Lamnalco Merlin (shown above) to Lamnalco Ltd. of Kuwait. The new boat will join the fleet oper- ated by Lamnalco, who operate their own vessels and manage ves- sels of other companies through- out the Arabian Gulf and Red

Sea.

The utility vessel T.E. Short, the initial boat of the 112-foot class built by HUDSHIP for Hud- son Marine, was purchased re- cently by Lamnalco and renamed

Lamnalco Falcon. That vessel is now operating out of Jeddah and the Red Sea ports of Saudi Arabia

The design of Merlin is HUD-

SHIP's standard 112-foot utility vessel hull, with some minor mod- ifications to suit the owner's par- ticular requirements. The lower house arrangement has been re- designed to accommodate 18 men in five cabins. The upper house has three single cabins for the captain, chief engineer, and a company official. The after deck, unchanged by the redesign, has a National 12V2-ton crane mount- ed at the starboard stern corner to service the entire cargo deck.

Lamnalco Merlin is powered by twin GM Detroit Diesel 16V92NA engines, each rated 600 bhp at 1,800 rpm, with Twin Disc MG527 reduction gears. The power pack- age was supplied by George En- gine of Harvey, La. Engine con- trols are by Kobelt. On sea trials the vessel exceeded 10 knots in a loaded condition and logged 13 knots lightly loaded. Engines are monitored by a Marine Electrical

Design system.

Auxiliary power is provided by two 50-kw Delco generators driv- en by Detroit Diesel 4-71NA en- gines.

The pilot house is arranged for maximum all-around visibility. It houses an assortment of elec- tronic equipment, including Fur- uno model 1064 radar, Sailor 144

AC VHF radiotelephone, Sailor

T-124 SSB radio, Sailor R-104 re- ceiver, Raytheon 350 loudhailer, and Data Marine 2650 depth in- dicator.

Other equipment includes

Aqualoy propellers, Cutlass shaft and stern bearings, Red Fox sew- age treatment system, Peabody

Barnes pumps, HBL anchor wind- lass, Hale fire pump, Perko run- ning and navigation lights, Kahl- enberg air horn, and Carlisle &

Finch searchlights.

Navigation Product Manager

Appointed At ITT Decca

Peter A. Tupas

Peter A. Tupas has been ap- pointed product manager of ITT

Decca Marine's navigation prod- uct line, it was announced recent- ly by George B. Woods, director of engineering services for ITT

Decca Marine.

Mr. Tupas will be responsible for providing marketing and tech- nical support for ITT Decca Ma- rine's Satellite Navigator, Loran

C and Track Plotter products.

Mr. Tupas is a member of Mas- ter, Mates and Pilots, and was most recently a third mate on the

S,/S Sheldon Lykes cargo ship. 10 Write 307 on Reader Service Card Maritime Reporter/Engineering News