Word: tankers
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...sale, which has been long in coming (TIME, Oct. 9), is the result of Niarchos' growing disenchantment with his argonaut's role. The world has become all too stable for him: there has been no Korean or Suez crisis lately to drive up oil prices and tanker rates. Niarchos did make a bundle by hauling oil for the Russians, notably during the Cuban missile crisis. But some U.S. oil giants are mad at him for carrying cut-price Russian oil that undersold their own; they are at least informally boycotting Niarchos' vessels and building more and more...
Ryan takes command at a time of SAC transition, with 100 Atlas and 54 Titan I missiles being phased out, along with 400 B-47s, six airfields and 14 missile sites. But he will still have plenty left: 600 B-52s, 80 B-58s, 600 KC-135 jet tanker planes, 200 KC-97s, 54 Titan II missiles and 650 Minutemen (he will eventually have 1,000 Minutemen), all comprising 90% of the free world's explosive power...
...give any details." There were plenty of questions to be answered and plenty of details to be filled in by Freudenberg, skipper of the pride of the Israeli passenger fleet, the seven-month-old, $20 million Shalom, and by Captain Kristian Bendiksen, 54, of the 12,723-ton Norwegian tanker Stolt Dagali. The two ships collided early Thanksgiving morning in heavy fog 17 miles northeast of Barnegat Lightship, off the New Jersey coast...
...collision," he said. "There was no panic, not the crew and not the passengers. Then we heard the cries of men in the water. We knew it was none of our people. We lowered lifeboats to search for them." The Shalom's lifeboats picked up five of the tanker's crew...
...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 ton in 1956 to $1.90 today...