Word: tankers
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...christen thee Olympic Bravery," cried Christina Onassis, as she smashed a bottle of champagne last October against the blunt bow of the first giant tanker to be delivered to the Onassis fleet since she took over its management after the death of her father, Aristotle Onassis. The 275,000-ton ship, which earlier had undergone successful sea trials, headed from Brest on her maiden voyage on Jan. 24 and ran into a sudden squall. Then the ship's engines inexplicably quit, leaving it to drift in 60-m.p.h. gusts; the 30-man crew dropped two anchors but the anchor...
...pick up. Potential mothballing costs: as much as $20,000 a day. The insurance payment would enable Christina to pay off the ship's $42 million mortgage and recoup most of the $10 million her father laid out as a down payment. Given the depressed state of the tanker market, Olympic Bravery would fetch between $20 million and $25 million-if a buyer could be found...
...would not be considered a strategic weapon and would not have to be counted as part of the reduced ceiling, but the Soviets would agree to deploy no more than 200 of the bombers. They would also be required to confine the Backfires' range by not providing any tanker fleet of aircraft to refuel the bombers in midair, nor could the new aircraft be based in the Arctic. This arrangement would, in effect, exempt the Backfires from the Vladivostok accord but give the U.S. an indirect way of limiting them...
Some experts are also worried about the $17 billion or so in bank loans to companies that pledged oil tankers as collateral. Petroleum shipments are still being held down by the lingering effects of recession, the spot market price for tanker charters has plummeted, and construction of new tankers has all but ceased. If the loans go bad, the banks will be left to dispose of vessels that probably will not bring nearly a high enough price to repay the loans. Finally, bank holdings of municipal notes and securities, especially those of New York City, have fallen sharply in market...
Nile Drink. After the valve-turning ceremony, Hilal led a motorcade to Ras Sudr's tiny terminal, where the 13,500-ton Egyptian tanker Salaam lay in shallow water offshore. An aide handed a folded Egyptian flag to Abdel Moneim Karamany, the governor of Sinai, who kissed it, fixed it to a rope and hoisted it onto a steel platform. A small crowd of Bedouins and a couple of sheiks watched, intoning "Allahu akbar"(God is great). Hilal and Karamany then stepped into a launch to visit the Salaam and congratulate its crew before the tanker sailed...