Teekay Shipping Corporation has entered into a definitive agreement to acquire Naviera F. Tapias S.A.. a leading independent owner and operator of LNG carriers and crude oil tankers in Spain. Teekay has also entered into an agreement with the shareholders
A key East Coast shipping executive, long active in U.S. maritime affairs, has been elected chairman of the board of the American Institute of Merchant Shipping (AIMS) for the next 12 months. He is Fred S. Sherman, chairman of the board, Marine Transport Lines, Inc.
The largest tugboat ever built in the United States to run on heavy fuel oil was completed and christened recently at McDermott Shipyards' Morgan City Division in Bayou Boeff, La. The 140-foot, twin-screw Valiant (shown above) was built for Houston-based Bulkfleet Marine Corporation.
Bath Iron Works (BIW), Bath, Maine, president John F. Sullivan recently announced the promotion of three of his department managers to vice presidents. Named were Royce A. Young Jr., vice president of production, Robert M. Smith, vice president of industrial and community relations,
Zapata Corporation of Houston recently announced that its board of directors and the board of directors of Trafalgar House Limited have approved an agreement for Zapata's U.K. subsidiary, Zapata Off-Shore Services Limited, to acquire Offshore Marine Limited,
Shell U.K. Exploration and Production has contracted with Bardex Corporation, through its London office, for the rig-skidding system on the Shell Tern platform in the North Sea. The system will consist of a control console and four hydraulic gripper jacks.
Northern Liquid Fuels International, Ltd. (NLFI), Houston, Texas, has named William L. Bull Jr. director of marine transportation. Mr. Bull, formerly manager of supply and t r a n s p o r t a t i o n for Tropigas International Corporation in Miami, Fla.
Robin Towing Corporation, 440 Pailet Avenue, Harvey, La., has applied for a Title XI guarantee to aid in financing the construction of two oceangoing tugboats and two aluminum crewboats, and in the refinancing of two oceangoing tugs. The two
—Literature Available Grow Group, Inc. has acquired the Napko Protective Coatings Division of the O'Brien Corporation, according to an announcement by Russell Banks, president and chief executive officer of Grow Group. Napko Corporation, with headquarters in Houston,
Shipowners are known for having distinct differences of opinion, but the one thing that all agree on is the importance of having access to capital. In an industry in which assets are generally bigticket items and operating margins can be thin,