Word: canyoned
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Dates: during 1960-1969
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MIDDLEBURY COLLEGE (Vt.) Mrs. Lyndon B. Johnson, D.LET. Her energetic crusade for enhancing the beauty of America encourages a vision beyond the blight of billboards and bulldozers to a flourishing landscape and to the wonder of the Green Mountains, the Grand Canyon, the Poconos and the Pedernales...
Orbiter has also revealed for the first time a large rill, or canyon, in an area near the south pole that is not visible from earth. The 200-mile-long and 10-mile-wide canyon extends from the edge of a large and still unnamed crater, and was created, Masursky believes, by the impact of the same meteorite that formed the crater. The spacecraft may also have helped determine if the lunar "seas" or flat dark areas are part of the moon's original structure or were formed by the impact of gigantic meteorites. If these lunar basins were...
Well-Insured Hull. Recovering the value of the Torrey Canyon and the 118,000 tons of crude oil it carried is only the beginning of the problem. British Petroleum, for whom the chartered ship was hauling crude from Kuwait to England, had insured its cargo for $1,600,000. The ship itself, owned by a company called Barracuda Tanker Corp., which was incorporated in Liberia but is controlled from Wall Street, carried "hull" insurance of $16.5 million. As is traditional in marine insurance, the policy (with an annual premium of $330,000) had been spread among 120 syndicates...
What makes the case of the Torrey Canyon really complex is the threatened damage suits. Like most vessels afloat today, the tanker carried more than hull insurance; it also had P & I (for Protection and Indemnity), which is insurance against damage to persons, piers or other objects while the ship is in operation. The primary P & I insurer was the Marine Office of America in New York City, a consortium that carried $2,500,000 on the vessel. Union also had an undisclosed amount of P & I with other companies, enough presumably to match at least...
...insurance is not adequate, Union Oil will presumably have to bear the brunt of the claims. Conceivably, Union could fight back by entering a countersuit against the British government for, of all things, piracy. Although British fighter planes bombed the ship "in defense of the realm," the Torrey Canyon at the time was actually outside British territorial waters...