Word: tankerful
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Down the ways at Quincy, Mass, last week went the largest cargo vessel ever built in the U.S., and the largest tanker in the world: the 45,130-ton World Glory, with a capacity of 16.5 million gals.-enough to fill 2,062 railroad tank cars. Built by Bethlehem Steel at a cost of $10 million, the huge tanker was the latest ship to join the fleet of Stavros Spiros Niarchos, 44. With 39 ships totaling nearly 1,000,000 tons on the seas, Niarchos claims to be the biggest independent tanker operator in the world, an honor that...
...Ships &; Stamps. Actually, the career of Economist Burns passed through a good many more phases than that. Burns was born 49 years ago in Austrian Poland. He was nine when he and his father came to the U.S. Arthur worked as a postal clerk, waiter, theater usher, dishwasher, oil-tanker mess boy, and salesman of shoes, furniture and real estate. By his third year as a student at Columbia, Burns had decided that he wanted to be an economist. After graduation he started teaching economics and doing research work while writing his doctor's thesis. Its subject: "Production trends...
...more trouble from the Department of Justice (TIME, Sept. 14). This week a grand jury indicted Greek Shipping Tycoon Manuel E. Kulukundis on the ground that he illegally bought U.S. ships through a series of subsidiary U.S. corporations. Federal agents are planning to seize the 10,172-ton tanker S.S. Sweetwater and some 24 other ships allegedly owned by Kulukundis...
Despite the world boom, there are ominous signs of trouble ahead. Production costs are going up so fast that Germany's prices have doubled in the last two years. Sweden, which built a 20,000-ton tanker in 1950 for half the American price, now charges about the same. New orders are falling off at an alarming rate. In Britain, they are only half the rate at which old orders are being,completed. What is more, in the first half of 1953, Britain received cancellations on orders for 40,000 gross tons. Unless new customers turn up soon...
...ships abuilding for delivery this year, 29 for 1954. But the future of U.S. shipbuilding looks dark. No new orders have been received to replace those now being completed, and a great part of the U.S. tanker and freighter fleets is growing old. To stimulate construction, the Eisenhower Administration is backing two bills. One, passed by the Senate this week, would allow trade-ins of old tankers for new ones; the other would invite private capital to invest in ship "mortgages...