Word: tankerous
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Dates: during 1950-1959
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What spurred the steels was news of a huge tanker boom for U.S. shipyards. Everywhere, new orders were flooding in, old tankers going for record prices. When the Maritime Administration offered six mothballed T-2 tankers for sale last week, it got 240 bids from 44 bidders, some offering as much as $2,456,525 for ships that originally cost an average $3,000,000 to build during World War II, were worth less than $1,000,000 apiece until war broke out in the Middle East. In Chester, Pa., Sun Shipbuilding Corp. signed orders...
...collective, cooperative effort" on a governmental level. Estimated cost at current prices: $4,000,000 per day to buy about 1,000,000 bbls. of Western oil daily and ship it to Europe. It will soon cost even more; oil prices are already starting to edge up, and tanker rates, which increased 38% in the last two months, are nearly 150% higher than last year at this time and at the highest point since the Korean...
...Tanker Shortage. If the canal and the pipelines should close down, the West would have to find new sources of oil and tankers to move it. The Western Hemi sphere could step up production an estimated 1,300,000 bbls. to 1,500,000 bbls. without much trouble-enough for all U.S. needs and more than half of West ern Europe's. But tankers are in the shortest supply ever. Sending them around the Cape of Good Hope instead of through the canal would lengthen the Persian Gulf-Rotterdam round trip from 44 to 71 days. Experts estimated that...
...concern over oil remained. The Middle East had been shipping 2,000,000 bbls. daily to Western Europe, 1,200,000 by tanker through the Suez Canal, the other 800,000 bbls. via pipeline from the Persian Gulf to the Mediterranean, where tankers picked it up. Another 300,000 bbls. daily had been going from the Mideast...
...tricky 103 miles of water without stalling traffic or blocking the canal? At 2:30 Saturday morning the first full convoy of 13 ships pulled out of Port Said with Egyptian pilots. "Give us more ships; we'll take them through," shouted one pilot as he took his tanker into the cut. A second convoy of 29, the largest in months, headed north from the Red Sea entrance and arrived at Port Said right on schedule twelve hours later. The weather was perfect, sparing for the moment the inevitable trials of crosswinds and sandstorms that may provide the real...