Word: tankerous
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...Steel, the nation's second largest steelmaker (1979 sales: $7.1 billion) and a major ship repairer. They came on a painfully embarrassing mission. On behalf of their company, they entered a guilty plea to an eleven-page statement of criminal offenses. The charges: during the lean years of tanker building and repair that followed the 1973-74 Arab oil embargo, Bethlehem engaged in a complex conspiracy that resulted in the payment of bribes of at least $400,000 to shipowners and agents in return for having them repair their ships in Bethlehem's yards. Bethlehem smuggled...
DIED. Hilmar Reksten, 82, once one of the largest operators of independent oil tankers in the world; of cancer; in Bergen, Norway. He parlayed a modest 1929 investment in a cargo steamer into a tanker fleet worth $600 million. His fortunes ebbed when the 1973 Arab oil embargo caused a worldwide slump and left eleven of his twelve supertankers lying idle. In 1979 he was acquitted on charges of evading income taxes on $89 million in foreign earnings. Ironically, he made this year's Guinness Book of World Records for paying a larger percentage of his annual income...
...state throbs with military aerospace construction. At Douglas Aircraft's plant in Long Beach, the KC-10 tanker cargo plane is rolling out, and at Lockheed's Sunnyvale facility new ballistic missiles for Trident submarines are being built. The first of 18 advanced maritime patrol aircraft worth $700 million was delivered by Lockheed to the Canadian government last week...
...Skyway has been the scene of three other major accidents this year. On Jan. 28 a collision between the Coast Guard cutter Blackthorn and a 605-ft. oil tanker killed 23 Coast Guardsmen. On Feb. 6 a boom from a Greek freighter slammed into the center supports of the bridge. Ten days later a Liberian-registered oil tanker hit an abutment. In the last two cases, damage was slight and there were no injuries...
...tanker Concho chugged into the harbor of Chelsea, Mass., late last month carrying 8.4 million gallons of heating oil. An everyday occurrence, with one important exception: the fuel on board cost only 47? per gal., or about two-thirds the normal 75?-per-gal. wholesale price. The importer was the nonprofit Citizens Energy Corp. (CEC), headed by Joseph P. Kennedy II, 27, eldest son of late Senator Robert Kennedy. A vociferous critic of the energy firms' "greed," the young Kennedy was out to prove that oil companies were ripping off the public...