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OSG To Build Dry Bulk Carrier And Supertanker Overseas Shipholding Group, Inc. announced at its annual stockhold- ers' meeting in New York that it has signed letter agreements for the construction in Japan of a 262,500- dwt supertanker and a dry bulk carrier of 25,400-dwt for delivery in 1973. The recent acquisition of a 31,000-dwt bulk ship, currently operating in the group's interna- tional fleet, was a so announced. This new building and acquisi- tion represent an investment of ap- proximately $35-million, according to Raphael Recanati, chairman of the finance and development com- mittee of OSG's board of directors, who reported these major develop- ments at the company's first annual stockholders' meeting since going public in January of this year. The OSG fleet, Mr. Recanati said, now stands at 33 tankers and dry bulk carriers with a total carry- ing capacity of 1,022,000 dwt. The company also has a 50 percent in- terest in a 29,000 ton oil barge. The multinational shipping com- pany now has seven ships under construction in the United States, Japan and England, which by 1973 will raise the OSG fleet to 40 ves- sels aggregating 1,827,000 dwt. Mr. Recanati noted that this represents an 85 percent increase from OSG's 1969 level. Alan MacNaughten Joins Independent Petroleum Supply Alan MacNaughten Alan MacNaughten has joined IPS, the Independent Petroleum Supply Company, according to an announcement from the Natomas Company subsidiary. Mr. Mac- Naughten has held various man- agerial positions with the Royal Dutch/She 1 group in the field of International Marine Bunkers. Pri- or to his joining IPS, Mr. Mac- Naughten was Bunker Manager for Shell Oil in the United States. Mr. MacNaughten is well known in international shipping and petro- leum circles. His ability and experi- ence will help IPS strengthen its marketing program. IPS is the ex- clusive bunker marketer for the West Indies Oil Company, Limited, Antigua, W. I., and in addition sells bunkers worldwide. IPS will also market Natomas Company's Indonesian crude production. Mr. MacNaughten is a resident of Verona, N.J. and is a graduate of Wesleyan University. He is a member of the National Propeller Club, the Whitehall Club, the Montclair Golf Club, the Oslo Golf Club, the Caledonian Club (Lon- don), the Burns Society, and the New York Ski Club. Maritime Management Institute Proceedings Volume Available The "Proceedings" of the Fourth Annual Maritime Management In- stitute, which was held March 4-5 under the auspices of the State Uni- versity of New York Maritime Col- lege, have been published in a vol- ume. The 1970 Maritime Manage- ment Institute attracted national attention, and for this reason a limited number of copies of the "Proceedings" are being made available to the general public. The volume includes the text of 17 speeches given at the Institute by Government and industry lead- ers, covering all facets of the trans- portation field. The theme of this year's two-day meeting was "In- termodal Transportation—Govern- ment Regulatory Policy?", and probed deeply into the question of the necessity for through-rate bills of lading. Copies of the "Proceedings", which are priced at $10.00, may be obtained by writing the Ship's Store, SUNY Maritime College, Fort Schuyler, Bronx, N.Y. 10465, telephone: 892-3000, Ext. 260 or 327. Ten money-saving reasons for using Zinc-Lock 351 inorganic zinc primer 1. Extended pot life—24 hours when kept sealed and cool. • Surface preparation — shot, grit, sand or pickling. One-half MIL shot blast peened surface is adequate. SP-5, 6 or 10 depending on the exposure. '•Touch dry in minutes minutes! hard in 30 4. 5. Touch up — may be reapplied to itself or to any other intact painted surface. Perfect for spot blasting and priming! Competitive . . . both in coverage and price. 8. 9. 10, iNo shut downs — may be applied air- less or conventional for indefinite per- iods without plugging the equipment. iWeld-through — manual, automatic or MIG with the least adjustment to the equipment. Less burnback than any in- organic zinc. Weld spatters do not ad- here; only wire brush cleaning of welds required. Hand brush touch-up is ac- ceptable. • Topcoat in 2 hours... (50% RH — 75F). i Water resistant... in 20 minutes! • Flexibility—Zinc-Lock goes where you want it to with the widest range of sur- face and atmospheric conditions. Avail- able in both 1 gallon and 5 gallon cans. ZINC-LOCK COMPANY A SUBSIDIARY OF GULF RESOURCES & CHEMICAL CORPORATION 6460 HOLLIS STREET • EMERYVILLE, CALIFORNIA 94608 (415) 653-7733 E] ZINC-LOCK 21 NC-^d Marine^ industrial r ^ ZL-405
