Word: aker
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...construction of four new 420,000-ton supertankers to add to his fleet of a dozen. But the world recession and quintupled prices for oil depressed demand for petroleum and thus for tankers. As a result, Reksten canceled the contract, and now must pay Norway's Aker shipyards damages of $67 million. The Norwegian government this month came to his rescue: it agreed to buy shares in several Reksten companies for $35 million. The government will become sole owner of an oil-rig contracting firm, but Reksten will keep control of the other companies. On top of that...
...will work out." Next, a firm called Starboat & Weil, incorporated in Panama in November and having an Oslo address, offered to buy the boats for offshore-oil exploration. Starboat's incorporator was Ole Martin Siem, 53, much-respected president of Norway's largest shipbuilding firm, the Aker Group. The operating heads of Starboat, however, turned out to be Israelis who had ordered several commercial ships from Siem and had persuaded him to help them. The tall blond officers who showed up in Cherbourg to take over the boats-and who were mistaken by some Frenchmen for Norwegians-were...