Word: consortium
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...tanker carried more than hull insurance; it also had P & I (for Protection and Indemnity), which is insurance against damage to persons, piers or other objects while the ship is in operation. The primary P & I insurer was the Marine Office of America in New York City, a consortium that carried $2,500,000 on the vessel. Union also had an undisclosed amount of P & I with other companies, enough presumably to match at least the $8,400,000 that Britons were talking about last week as the minimal total of losses...
...year to a record $255 million. To reduce imports, South Korea's first oil refinery, built two years ago at Ulsan, is being expanded, and another $50 million refinery is going up at Yosu, providing the base for a $100 million-a-year petrochemical industry. A four-nation consortium of firms is planning a $100 million iron and steel mill on the coast. Plans are also under way for $300 million worth of power plants that will more than double the country's generating capacity...
Mobutu searched the world for a new team of technicians, even dickered with a rival consortium about taking over the mines. In the end he found no one who would or could come...
...have in Libya. A mere five years ago, Libya ranked virtually nowhere among the oil-producing nations of the world. Today it stands seventh, behind the U.S., U.S.S.R., Venezuela, Saudi Arabia, Kuwait and Iran. Thirty-nine companies have drilling operations in the Libyan desert. The biggest producer is a consortium, Oasis Oil Co. of Libya, Inc., comprising Continental, Marathon and Amerada-Shell. Also on the scene are Esso, Mobil/ Gelsenberg (75% Mobil-owned) and Amoseas, a joint exploration venture of Texaco and Standard of California. Together, these giants pump more than 1.7 million...
...body and the $3 billion project is keeping right on schedule toward scheduled flight in 1971. The Concorde is smaller, slower and less rangy than the B-2707, will seat only 136 people. But it costs only $16 million, or less than half as much, and the Anglo-French consortium, with 69 orders already in the book, anticipates more if work is held up on the American version...