Word: fleetness
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Dates: during 1960-1969
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...Astrovision, made by Sony of Japan, American Airlines pays $52,000 a plane; it puts out another $1,000,000 a year just to rent 52 movies. Pan American is studying an in-flight movie system that would cost about $5,000,000 to install in its jet fleet...
...into shipping as their natural calling, reassured by an ancient Hellenic proverb that the sea never freezes. Stavros Spyros Niarchos, 55, a trim, dapper Greek and a former brother-in-law of Magnate Aristotle Socrates Onassis, has carried on the tradition with flair and fabulous success, now owns a fleet of 74 tankers and freighters whose stacks bear the white "N" known in every port. But Niarchos, who became the world's largest independent shipowner, is ready to change course. Last week the word was out that his whole fleet is up for sale...
...about to freeze, but Niarchos finds it harder to make the kind of money he would like to from shipping. Too many operators and ships are crowding the sea lanes. "They produce ships like hamburgers these days," says Niarchos. His own fleet has slipped into second place behind the expanding operations of the U.S.'s Daniel K. Ludwig. More and more oil companies, instead of chartering, are buying their own tankers. As a result, cutthroat competition is common among charter operators such as Niarchos: charter rates for a 42,000-ton tanker have dropped from $4 per deadweight...
...Niarchos wants out, he is not selling cheap. The asking price for the fleet and all its contracts is about $260 million, or $100 per deadweight ton. Brokers complain that the price is outrageous, since brand-new ships can be built in Japan for that much or less and at least 15 of the Niarchos ships are considered out of date. Not included in the offer are the prospering Niarchos shipyards near Piraeus or any of his other worldwide investments in oil refineries and aluminum...
...successful test, however, does not make a fleet of Hydroskimmers, and numerous problems remain to be solved. For one, the craft moves so fast as it approaches a beach that the helmsman has almost no time to avoid bad landing spots. Little is known about how the Hydroskimmer handles in a rough sea, and a heavy surf might damage the craft's engines...