Word: shipping
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Sanko's troubles began in 1973 when the Arab oil embargo dealt a severe blow to the world shipping industry by reducing the demand for tankers. Instead of taking that as a warning signal, Sanko continued to expand its fleet, despite growing competition from companies based in other Asian countries. By 1983 an oversupply of tankers had swamped the industry, and Sanko slipped into the red. While in bankruptcy proceedings, Sanko will try to stay afloat by scuttling some of its 264-ship fleet. ENERGY Slippery Job for Lloyd...
...Army's supersecret Delta Force had a vital mission last October: fly to the Mediterranean and prepare to rescue the hostages aboard the Italian cruise ship Achille Lauro. But there was an unusual last-minute hitch. An undisclosed number of the elite counterterrorist troops were under investigation for in effect cheating on their expense accounts, and had to get a special dispensation from the Pentagon to leave their home base at Fort Bragg...
...danger of an Iranian blockade has lent special importance to Oman, which lies on the strait's southern shore. An Omani naval base at Ras Masandam monitors all ship movements through the channel, while the sultanate's fast and flashy Province-class patrol ships, each armed with eight radar-guided Exocet missiles, are on constant alert, occasionally shooing away Iranian intruders. Qaboos has also seen to it that Oman's 21,500-man volunteer army, navy and air force do not lack for equipment. He lavishes 46% of the national budget on the military and keeps it supplied with...
...tree-house designs of Bremen, Germany-based Baumraum architect Andreas Wenning are more modest in scale, but lean toward the avant garde (www.baum raum.de). A triangular construction, for example, suspended on steel ropes more than 8 m above ground between two beeches, is designed to resemble a ship. The one-room, 7-sq-m dwelling, on the grounds of a livery stable near Bremen, serves as the owner's weekend retreat. It boasts a glass-topped lookout, terrace and hatch-door entry, as well as heating and electricity. So if you have the urge to nest, look...
...dining rooms. The tree-house designs of Bremen, Germany-based Baumraum architect Andreas Wenning are more modest in scale, but lean toward the avant garde (www.baumraum.de). A triangular construction, for example, suspended on steel ropes more than 8 m above ground between two beeches, is designed to resemble a ship. The one-room, 7-sq-m dwelling, on the grounds of a livery stable near Bremen, serves as the owner's weekend retreat. It boasts a glass-topped lookout, terrace and hatch-door entry, as well as heating and electricity. So if you have the urge to nest, look...