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construction contracts for the vessels to the United States Trust Company of New York (Ship- owner). The Shipowner will act as owner/trustee of the vessels under trust agreements, with wholly owned subsidiaries of the Bank of America National Trust and Savings Association as the equity participants. Farrell will then bareboat char- ter the two container vessels un- der a separate 24-year charter IS THE CANCER for each of the ships. The terms of the sale and leaseback pro- posal are subject to approval by the Maritime Administration. Delta Steamship Names Badger And Collins James F. Badger has rejoined Delta Steamship Lines, Inc., as vice president-market research, according to an announcement by Capt. J.W. Clark, president of the New Orleans, La.-based line. Mr. Badger served previously with Delta Line (1967 to 1974) in vari- ous managerial capacities. IS THE ANSWER. Farrell Sale And Leaseback Agreement Approved By MarAd The Assistant Secretary, U.S. Department of Commerce, Mari- time Administration, has ap- proved the request by Farrell Lines Incorporated (Farrell) to enter into a sale and leaseback agreement for two containerships being built with the aid of con- The answer to one of your most costly maintenance problems.There's nothing like the sea to cause rust on ships- escalating your expenses, endangering your capital investment. And there's nothing like Fluid Film" toconquerit. Fluid Film goes right through exist- ing rust to the base metal, providing a non-drying protective barrier. And it's safe, non-polluting and easy to apply. Three-year no-rust guarantee Fluid Film is so effective that we guarantee it for three years when used in your ship's tanks. Even on in-service vessels. (Many applications last over ten years.) If in three years from date of appli- cation, Fluid Filmfailsto provide corrosion control under normal operating conditions due to washing off, falling off, drying or loss of adhesion to base metal, we will supply replacement material to you absolutely free* Fluid Film products sold worldwide Fluid Film products also include Wire Rope Dressing-pigmented and open gear lubricant (extreme pressure addi- tives), Deck Oil and Potable Water Tank struction-differential subsidy and a Title XI guarantee. The vessels, Austral Pioneer and Austral Puritan, are pres- ently under construction at Beth- lehem Steel Corporation's Spar- rows Point, Md., shipyard. They are scheduled for delivery in November 1978 and February 1979, respectively. Under the sale and leaseback agreement, Farrell will assign its rights and obligations under the Coatings. All Fluid Film products and engi- neering services are available inter- nationally. Compare the labor and material costs of Fluid Film to the total cost of sophisticated paint systems shown in the chart. You'll see why so many shipbuilders and maintenance superintendents have been using Fluid Film for over 30 years. For more information write or telephone us collect at (415) 761-3536. (Telex 349-465) Fluid Film Gel B Coal Tar Epoxy Surface preparation None to minimum Sandblasting Moisture tolerance Can apply to damp surface requires dry surface Number of coats 1 2-3 Curing time None 48 hours Flash point during application Over 400° F Under 110°F No-rust guarantee 3 years None known Chart comparison based on in-service ballast tank applications. 'This guarantee does not cover applications where our specifications were not followed or to in-service vessels where Fluid Film may have been applied over loose, non-adhering rust/scale. It also does not cover any area where the material was removed. James F. Badger In his new position, Mr. Badger will be involved with all phases of the company's marketing oper- ations. A native of Gaffney, S.C., Mr. Badger attended graduate school at the University of South Carolina, and Tulane and was a candidate for a doctorate in eco- nomics at Tulane University in New Orleans. Captain Clark also announced that Richard V. Collins, who has been with Delta since 1973, has been promoted to the position of assistant to the president. Richard V. Collins Mr. Collins is a 1966 graduate of the United States Merchant Marine Academy, holds an un- limited master's license and at- tended Northwestern University, where he earned a master's de- gree in business administration in 1973, when he first joined Delta. His most recent position with Delta was as assistant vice president-market research. Delta Steamship Lines, Inc., 1700 International Trade Mart, New Orleans, La. 70150, owns and operates a fleet of ultramod- ern vessels that offer service be- tween U.S. Gulf of Mexico ports and the east coast of South Amer- ica, Central America, the Carib- bean and West Africa. Recently, Delta and Prudential Lines, Inc., signed a letter of intent by which it is expected that Delta will ac- quire Prudential's Latin Ameri- can trade services. Eureka Chemical Company, PO. Box 2205, South San Francisco, CA 94080 • (415) 761-3536 14 Maritime Reporter/Engineering News
