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United States Lines Names Madigan VP, Chief Financial Officer Richard E. Madigan Richard E. Madigan has been named president and chief financial officer of United States Lines, Inc., it was announced by Edward J. Heine Jr., president. Mr. Madigan was formerly direc- tor of taxes for Walter Kidde and Company and before that, held execu- tive positions with Arthur Andersen and Company. He is a magna cum laude graduate of Fordham Univer- sity where he studied accounting, and holds an M.B.A. degree in taxation from Pace College Graduate School. He is author of the book "Taxation of the Shipping Industry," published by Cornell Maritime Press in 1971. Mr. Madigan is a member of the American Institute of Certified Pub- lic Accountants, the New Jersey So- ciety of CPA's, and the Tax Execu- tives Institute. Bethlehem Singapore Receives Orders For Three Drilling Platforms Bethlehem Singapore Private Ltd. has been awarded contracts for the construction of three jack- up mobile drilling platforms for use in 250 feet of water. These units, which will be the Bethlehem mat type similar to the five already under contract at Beth- lehem Singapore, are being pur- chased by European and Far East shipping interests in conjunction with Wallem Ringdal Offshore Ltd. in Hong Kong. Delivery of the three is slated for February, June and October 1976. This brings Bethlehem Singa- pore's backlog in drilling platform contracts to a total of eight. In announcing the contracts, John C. Estes, president and gen- eral manager of Bethlehem Singa- pore, noted that it was the largest order for drilling platforms ever signed at one time by a Bethlehem yard. The Bethlehem Singapore facility is jointly owned by Bethle- hem Steel Corporation and the De- velopment Bank of Singapore, and is managed by Bethlehem Steel. The Singapore facility has de- livered four jackup drilling units and numerous barges, and also does steel fabrication and drilling rig re- pairs. In late 1973 and early 1974 it performed extensive repairs on the Reading and Bates jackup Chris Seger and Dolphin Interna- tional's Bali Dolphin. Hawaii Section Hears Paper On Interisland Hydrofoil Transportation The Hawaii Section of The Soci- ety of Naval Architects and Marine Engineers met at the Elks Club in Honolulu on April 2. After the social hour and dinner, members, their ladies and guests were presented with a paper on the interisland hydrofoil transportation system scheduled for operation in October 1974. The topic, "SeaFlite —A New Way To Travel," was presented by Capt. Francis T. Cooper, USN (ret.), president of Pacific Sea Transportation, Ltd., a Kentron subsidiary. Captain Cooper discussed the history of interisland transporta- tion and the various factors which resulted in the hydrofoil trans- portation system being favored for interisland service. This unique and exciting new means of travel will soon be available to residents and visitors in Hawaii. Three jetfoils are presently being constructed by The Boeing company for delivery to Pacific Sea Transportation in late 1974. With the delivery of these revolutionary new surface craft, the Hawaiian Islands will once again be linked by a waterborne trans- portation system. Your ship just came in. We call it The Hospital Trust Leasing Corporation. It's designed to take the sinking feeling out of the cost of marine equipment — everything from tugs, tuna seiners, fishing and lobster boats to huge floating derricks, oil tankers, and cargo freighters. You see, marine financing is our business. And we can develop proposals on a true lease or lease-purchase basis, interim construction funding, funding under several governmental agencies, and through the Capital Construction Fund. As an affiliate of The Rhode Island Hospital Trust National Bank, (nearly $800,000,000 in assets) we can negotiate flexible lease arrangements and give you the kind of quick, deep financial back-up you. need. , For complete information, drop us a note on your letterhead or send in this handy coupon. For an even quicker response, call Bob Romano at (401) 278-8190. SHIP OUT THIS COUPON TODAY Yes. I'd like to know how The Hospital Trust Leas- ing Corporation can help with my marine financing needs. Please send information to: NAME TITLE COMPANY. ADDRESS- CITY STATE . ZIP_ May 15, 1974 15
