Page 41: of Maritime Reporter Magazine (March 15, 1983)

Interocean Steamship Buys

Lykes Steamship For $150-Million

W.J. Amoss Jr., president and chief executive officer of Lykes

Bros. Steamship Co., Inc., New

Orleans, La., announced recently that the purchase of Lykes

Steamship by Interocean Steam- ship Corp. from The LTV Cor- poration has been completed.

The sale price was $150 mil- lion including $85 million in cash.

Interocean is a Florida company owned by Lykes Bros. Inc., of

Florida, Mr. Amoss, and two oth- er Lykes Steamship senior exec- utives, Robert J. Brennan and

Eugene F. McCormick.

Lykes Bros. Inc., based in

Tampa, is the original parent company of Lykes Steamship.

LTV and Lykes Corp., of which

Lykes Steamship was a subsid- iary, merged in December of 1978. Mr. Amoss said: "Lykes

Steamship will continue to pro- vide the shipping public with the efficient, responsive service it has come to associate with Lykes. "We have enjoyed our associ- ation with the LTV Corporation,"

Mr. Amoss continued. "Our rela- tionship was always a good one.

LTV gave us considerable free- dom in both day-to-day opera- tions and long-range develop- ment. As a result of the associ- ation, Lykes is a disciplined, quantitative-oriented organiza- tion. "We are very enthusiastic about Lykes's future," the chief executive officer said. "Because of the sale, we will have the flexibility to devote our resources to vessel replacement and ex- pect to move ahead with the fleet replacement program we already have in a development stage.

Lykes Steamship, based in New

Orleans, operates a fleet of 46

U.S.-flag cargo ships on trade routes covering the U.S. Gulf,

West, and South Atlantic coasts, the Great Lakes and St. Law- rence Seaway, Northern Europe and the United Kingdom, the

Mediterranean, South and East

Africa, the west coast of South

America, and the Far East. Lykes

Steamship has been in service for more than 80 years. Among the innovations it introduced into shipping was the SEABEE barge, container, and heavy lift vessel.

Climax Offers 56-Page

Publication On Super 12 Percent Cr Steels

Climax Molybdenum Company of Ann Arbor, Mich., a unit of

Amax Inc., has released "The

Super 12% Cr Steels — An Up- date."

The 56-page publication con- tains information on currently available Super 12 percent Cr steels, their physical and me- chanical properties, standards and specifications, producers, cor- rosion and oxidation resistance, and fabrication properties. This update is intended as a supple- ment to "The Super 12% Cr

Steels" by J.Z. Briggs and T.D.

Parker.

This is a detailed, extremely informative report containing thousands of facts, charts, graphs, etc. For a free copy,

Write 74 on Reader Service Card

Union Carbide Seeks $80-Million Title XI

For Product Tanker

Union Carbide Marine Fleet,

Inc., a subsidiary of Union Car- bide Corp., Danbury, Conn., and

Marine Chemical Steamship Co.,

Inc., a subsidiary of Marine

Transport Lines, Inc., New York,

N.Y., have applied for a Title XI guarantee to aid in financing the construction of a 35,000-dwt chemical and product carrier.

The steam-turbine, 17,500 shp vessel, to be named the Chemi- cal Pioneer, is expected to oper- ate on the U.S. Gulf and East

Coasts and to and from Puerto

Rico. Newport News Shipbuild- ing, Newport News, Va., is build- ing the tanker. Delivery is set for August. If approved, the Title

XI guarantee would cover $80,- 813,000 of the estimated actual cost of $132,219,000.

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March 15, 1983 Write 488 on Reader Service Card 39