Page 3: of Maritime Reporter Magazine (April 1988)

Fred Olsen, Citicorp

To Invest In Tankers

First Olsen Tankers Limited, a company sponsored by Citicorp, a subsidiary of Citibank N.A., and shipping firm Fred Olsen & Co.,

Oslo, has just been formed to invest primarily in medium- and large- sized crude oil tankers.

Citicorp and Fred Olsen & Co. believe that the tanker market is reaching a turning point. They ex- pect a structural shortage of ton- nage to develop in the next five years creating an opportunity for higher returns through profitable trading and capital appreciation.

First Olsen Tankers Lmited plans to invest in secondhand tonnage rather than newbuildings.

In accordance with this policy, the board of directors has already approved the purchase of four Suez- max 140,000-dwt tankers. The ships will be managed and marketed by

Fred Olsen & Co., in a pool with four similar tankers chartered by Fred

Olsen & Co.

Navy Awards $4.9-Million Contract

To Continental Maritime

Continental Maritime, San Diego,

Calif., has been awarded a $4,926,630 firm-fixed-price contract by the Supervisor of Shipbuilding,

Conversion and Repair, San Diego,

Calif., for the Selected Restricted

Availability (SRA) for the aircraft carrier USS Ranger (CV-61). The work is expected to be completed

June 24, 1988. The contract is (N00024-85-H-8212).

WhiteMetal Offers

Free Color Brochure

On New Blasting System

WhiteMetal Inc., Houston, Texas, is offering a free color brochure on its new JET STRIPPER™, a highly productive surface cleaning system which enhances the strong points of conventional dry blasting.

The JET STRIPPER uses lower volumes of water than other wet abrasive systems, and eliminates the dust with minimal water run-off problems.

According to the company, the

JET STRIPPER system will pro- duce a surface cleaner than a "white metal" surface with a deeper and cleaner anchor profile than any con- ventional dry, high pressure water, or wet abrasive blasting system be- cause of the added force of the abra- sive blast. The brochure explains that the JET STRIPPER's unique operating and performance charac- teristics substantially reduce total operating costs in applications where dry abrasives or high pressure water blasting are typically used.

For your free copy of the color brochure from WhiteMetal Inc. on its new JET STRIPPER system,

Circle 81 on Reader Service Card

April, 1988

MHI Delivers

Newest Tanker

For Chevron Fleet

Chevron Corporation's newest tanker, the 78,000-dwt R. Hal Dean, was recently christened and deliv- ered at Mitsubishi Heavy Indus- tries' (MHI) shipyard in Nagasaki,

Japan.

Christened by Mrs. Gale Dean, wife of R. Hal Dean, a member of

Chevron's board of directors, the tanker was specially designed to car- ry crude oil from the company's very large and ultra-large crude car- riers (VLCCs and ULCCs) sailing off the U.S Gulf Coast to the compa- ny's refineries at Pascagoula, Miss., and Port Arthur, Texas.

The R. Hal Dean can carry 510,000 barrels of crude oil. She meets all international standards for promoting safety at sea and for preventing pollution. The 12,060- hp, diesel-powered ship has state- of-the-art navigation and communi- cation equipment and is extensively automated. Her specially designed rudder, bowthruster and controlla- ble-pitch propeller enhance her ma- neuverability.

For literature detailing the ship- building facilities of MHI,

Circle 24 on Reader Service Card

The Teleflex Remote Mechanical Valve

Actuator (RMVA) has proven its dependability in cruel environments aboard naval vessels.

Specify RMVA by Teleflex. It's simple. It works.

It's proven. Call or write for your complete RMVA

Design Manual.

Circle 117 on ill.. "ttJP I ^^ INCORPORATED lleleFlex •• naval technologies 771 First Avenue • King of Prussia, PA 19406-1401 (215) 265-0556 • Telex 90-2528 • TWX: 710-670-1122

Service Card _

REMOTE VALVE ACTUATION

MADE IMPLE ...AND EASY

TO MAINTAIN

RMVA is virtually trouble-free, due to design simplicity. No periodic maintenance. Shock and vibration resistant. Highly survivable. • Approved for all U.S. Naval Surface Ships • ABS approved ...AND CORROSION-

RESISTANT

RMVA uses materials and SermeTel coatings which are extremely corrosion-resistant. All moving parts operate in a sealed environment. ...AND COST

EFFECTIVE

RMVA can reduce your material, installation, maintenance and life- cycle costs. Savings are compared with complex reach rod installations. ...AND RELIABLE

Teleflex-RMVA is based on a simple tension-tension, closed-loop actuating concept. Helical cable, operating in a conduit, converts rotary to linear motion and then back to rotary. ...AND EASY TO INSTALL

RMVA uses flexible conduit which makes even the most complicated routings easy to install. No gear boxes or joints.