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Ten Percent of Nations Oil Tankers Unemployed
New York AP reports ten per cent of the U.S. tank er fleet is idle as demand lags. Overbuilding after optimistic 1956 demand forecasts and the Suez Crisis left many ships unused. Some vessels lack oil to haul, with 29 tankers covered by mortgage guarantees. 18 lack foreseeable business, and builders seek Maritime Administration help.
MENTIONED IN THIS ARTICLE
New York
United States
Suez Canal
Suez
Egypt
BUX Years
Standard Oil Co
New Jersey
Pers
U.S. Maritime Administration Act
Piecerriens
Shipping Executive
Maritime ‘Administration
Afl-Cio
U. S