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William Bolte Named Manager Of Hannah's Transportation Division William R. Bolte Hannah Marine Corporation re- cently announced the appointment of William R. Bolte as manager of Hannah's Transportation Di- vision. Mr. Bolte has been in the marine business for 20 years, having started in the accounting department of A.L. Mechling Barge Lines in 1961. He moved to the dispatch department in 1963, and came to Hannah as a dis- patcher in 1974. At Hannah he was promoted to chief dispatcher in 1975 and traffic manager in 1977. He is presently serving as co-president of the Illinois River Association. MarAd Study Details 'Multiplier Effect' Of U.S.-Flag Merchant Fleet An updated, input-output, eco- nomic analysis of America's mar- itime industries just released by the Commerce Department's Mar- itime Administration indicates that each dollar in sales by the U.S. merchant marine adds an- other $3.81 to the national econ- omy. The study, "Economic Im- pact of the Maritime Industries on the U.S. Economy 1971-78 (An Interindustry Analysis)," was prepared by H.C. Chung, profes- sor of economics at the Univer- sity of Bridgeport, Bridgeport, Conn. It reports that the chain of purchases begun by the mari- time activities of the U.S.-flag merchant fleet has a cumulative "multiplier effect" of 4.811 throughout the economy. This means that each dollar in mer- chant fleet sales ultimately gen- erates a total of $4.81 in sales and other business activity. It should be noted that the dol- lar amounts used in the study were expressed in terms of 1972 dollars. In 1979 dollars (adjusted for inflation) the figures would be 50 percent higher. Applying the 4.811 multiplier to the U.S. shipping industry, Pro- fessor Chung found that the $1.5 billion in merchant fleet sales re- ported in 1972 induced nearly $7.5 billion worth of business activity in the nation's economy. Similar multiplier effects increased the American shipping industry's con- tribution to the Gross National Product of the same year to $3.5 billion. The multiplier for the Ameri- can shipbuilding industry in 1972 was 4.701, thus the $2.8 billion government and business invested in shipbuilding services in 1972 had a $13.3 billion impact on the entire economy. Limited copies of the report are available through MarAd's Public Affairs Office, Room 3895, Main Commerce Building, 14th & E Streets, N.W., Washington, D.C. 20230; telephone (202) 377-2746. Title XI Asked For Bulk Carrier Conversion To Cost $8 Million Allied Barge, Inc., a subsidiary of Allied Towing Corporation, Norfolk, Va., has applied to the Maritime Administration for a Title XI guarantee to aid in fi- nancing the reconstruction of the bulk carrier Seadrift into a mul- tiple product liquid and dry-bulk carrier. Allied Repair Service, Inc., Nor- folk, has been proposed to per- form the reconstruction work on the 523-foot-long, diesel-powered vessel, with delivery set for March 1981. The applicant plans to use the vessel along the East and Gulf Coasts of the United States. The estimated cost of the work is $8 million. The requested guarantee is for 87% percent of that amount, or $7 million. Inert Gas Systems • Equipment Supply • Survey and Drawings • Pipework and Cabling • Installation Supervision • Commissioning PEABODY HOLMES COVER THE WORLD USA EUROPE ATCO Marine Corporation, Peabody Holmes Ltd, 603 Dean St, 17-27 Garratt Lane, BROOKLYN NY 11238 LONDON SW184BY Tel: (212) 857-1050 Tel: 01-874 6491 Telex: 223357 Telex: 928632 m B V W Peabody Holmes JAPAN Kashiwa Co Ltd 2-1,1-chome, Marunouchi, CH1YODA-KU, TOKYO Tel: 281 3951-4 Telex: 222484 April 1, 1981 Write 464 on Reader Service Card 9
