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...this just another maritime accident? After all, 1979 had been a graveyard year for cargo vessels. At least 279 ships sank, weighing 2.3 million tons in all-a 60% increase from the year before. Insurance experts at Lloyd's of London, now claim that the Salem was deliberately scuttled. If true, it would make for the biggest maritime swindle in history. Shell International Trading, which had purchased the 194,000 tons of Kuwaiti oil aboard the Salem, has filed the largest cargo claim ever received at Lloyd's: $56.3 million. Shell has also filed a suit against...

Author: /time Magazine | Title: HIGH SEAS: Sinking a Supertanker | 2/18/1980 | See Source »

...supertanker. The load was to be 194,000 tons of Kuwaiti oil, to be delivered in Genoa to an independent Italian oil company, Pontoil. On Nov. 30, the ship-Soudan's Salem-sailed for Kuwait and picked up the crude. After four days at sea, however, the cargo was sold to Shell in a normal spot-market transaction. Shell kept Genoa as the point of delivery...

Author: /time Magazine | Title: HIGH SEAS: Sinking a Supertanker | 2/18/1980 | See Source »

...Among other things, the venerable insurance market is being sued by 36 of its member underwriters in a case involving insured Bronx slum buildings put to the torch. Last year, Lloyd's investigated the smoking of five supertankers and dozens of other vessels; it estimates that, worldwide, 100 cargo ships were purposefully sunk in 1979, accounting for losses of $250 million...

Author: /time Magazine | Title: HIGH SEAS: Sinking a Supertanker | 2/18/1980 | See Source »

...from Piraeus and other Mediterranean ports. But the sinking of the Salem may have set a new precedent. Explains Eric Ellen, chief constable of the Port of London: "The Salem is the first such incident involving oil, but we knew it would happen because of the attractiveness of the cargo. It takes an event like the Salem to make people realize how horrific this problem has become...

Author: /time Magazine | Title: HIGH SEAS: Sinking a Supertanker | 2/18/1980 | See Source »

History haunts Erks as "trails of blood, a web without geometry, a tangle of routes." His present is also lethal and complicated. He must drive four Chinese aliens over the Canadian border into Washington State, detour through Reno and deliver his human cargo in San Francisco. One of the Chinese is bleeding to death from a mysteriously inflicted knife wound. Another, by the name of Ginarn Taam, is being chased by the Triad, a sort of Oriental-American Mafia...

Author: /time Magazine | Title: Books: Easy Driver | 2/4/1980 | See Source »

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