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B.B. Cook Ir. Elected To Delaval Board Barton B. Cook Jr. W.J. Holcombe, chairman, De- laval Turbine Inc., recently an- nounced that Barton B. Cook Jr. has been elected director 'by the board of directors. Mr. Cook's early service with the company, beginning in 1955, was primarily related to the design and application of marine propulsion systems. Later, he became mana- ger .of the marine department and in 1966 was named manager, engi- neering, of the Turbine Division. In 1967, Mr. Cook was elected vice president, marketing, and served on the corporate staff in that capacity until 1972, when he was named general manager of the Turbine Division and assumed re- sponsibility of the company's Con- denser and Filter Division and its European joint venture, Delaval- Stork V.O.F. Mr. Cook is a graduate of the University of Michigan, with a B.S.E. degree in naval architecture and marine engineering. Through- out his career, Mr. Cook has been active in The Society of Naval Ar- chitects and Marine Engineers and the American Society of Mechani- cal Engineers. Tidewater Earnings Up— Fleet To Be Increased Costing $40 Million Tidewater Marine Service, Inc., New Orleans, La.-based surface support contractors to the offshore oil industry, had earnings of 58 cents per share for the first fiscal quarter ended June 30, 1973, com- pared with 45 cents per share for the same period a year ago, presi- dent and board chairman John P. Laborde told shareholders at the company's annual meeting in New Orleans on August 10, 1973. Net earnings for the first quarter were $2,270,893, compared with $1,757,517 last year. Gross reve- nues were $16,257,903 for the 1973 quarter, compared with $14,694,- 731 a year ago. The results were the best for any quarter in the company's his- tory, Mr. Laborde said. Mr. Laborde attributed the re- sults to the fact that business was good in all operational areas with particular emphasis on the U.S. Gulf of Mexico, where three lease sales were successfully completed during the past year with prospects for another in the near future. Mr. Laborde also noted interna- tional recognition of oil and gas shortages has improved the in- September 1, 1973 9 dustry's position worldwide and indicated that demand for the com- pany's services should continue high for the remainder of the fiscal year. A fleet expansion program in- volving expenditures of approxi- mately $40 million in domestic and foreign shipyards is well under way, Mr. Laborde stated, with de- liveries due throughout 1973 and into 1974. Financing for this con- struction has either been arranged or is in the final stages of agree- ment, he said. New Orleans Bank Lends $14 Million For Supply Vesels A direct loan of $7 million, and another $7-million guaranteed loan approved by the Export-Import Bank of the U.S. is being made by the First National Bank of Commerce in New Orleans, La. The loan is in support of a $17.5-million sale of six offshore supply vessels for use in the North Sea and other offshore drilling sites. The borrower, Allseas of Panama Inc., will make a cash payment of $3.5 million toward the total costs. Allseas is a new company established to operate tug and supply vessels to serve marine oil rigs. A spokesman for the Export-Im- port Bank said the loans are to be repaid in 16 semi-annual installments, beginning November 5, 1974, at an annual interest rate of 6 percent on outstanding balances. The Export-Import Bank is an in- dependent agency of the U.S. Govern- ment. Puzzled by the Pacific Ocean? Dillingham's group of maritime companies can fit all the pieces together for you. We haul cargo, dock ships, repair vessels and plumb the ocean depths from Alaska to New Zealand . . . and most stops in between. Everyday in the year, Dillingham offers the greatest combination of maritime services available in the Pacific. With 150 tugs and 5 shipyards*our people are always ready to help you. Just call the Dillingham company nearest you. They're listed below. •ALBINA ENGINE AND MACHINE WORKS 2100 N. Albina.Ave. Portland, OR 97208 Phone (503) 284-1131 •K0DIAK SHIPYARD P.O. Box 2368 Kodiak, AK 99615 Phone (907) 486-3193 •PACIFIC SHIPYARD P.O. Box 218 Anacortes, WA 98221 Phone (206) 293-2931 F0SS LAUNCH AND TUG CO. 660 West Ewing St. Seattle, WA 98119 Phone (206) 285-0150 1901 Tidewater Road Anchorage, AK 99501 Phone (907) 274-1577 F0SS ALASKA LINE 6694 W. Marginal Way S.W. Seattle WA 98109 Phone (206) 762-6000 HAWAIIAN TUG AND BARGE Pier 24 Honolulu, HI 96801 Phone (808) 531-7011 YOUNG BROTHERS LTD. Pier 24 Honolulu, HI 96801 Phone (808) 531-7011 PACIFIC TOWBOAT AND SALVAGE CO. Pier "D", Berth 35 Long Beach, CA 90802 Phone (213) 432-6487 1839 Water St. San Diego, CA 92113 Phone (714) 234-8228 •DILLINGHAM SHIPYARD Pier 41 P.O. Box 3288 Honolulu, HI 96801 Phone (808) 845-2911 •DILLINGHAM CORP. OF GUAM P.O. Box FN Agana, Guam 96910 Phone 772-8515 VIW Dillingham
