Oral History Interview with Stephen E. Van Nostrand, April 20, 1987 Page: 62
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62
Marcello:
Van Nostrand:
Marcello:
Van Nostrand:oil storage terminal company and the ultimate place in the
fleet of three 470,000-tonners that made eight voyages a
year to the Persian Gulf. They were kept in constant shuttle
on that operation and resulted in our crude costs being very
competitive.
I think you touched on this. somewhat, but lets go into it
in a little bit more detail. You mentioned earlier the
formation of the Tokyo Tanker Company, another one of the
joint ventures. What do you recall about the jumbo-izing of
the old T-2 tankers? You mentioned T-2s awhile ago.
When the need for tanker capacity began to peak out, Japan
was building over 50 percent of the new ships in the world,
and it resulted in a lack of shipbuilding space in these
gigantic yards. But there were still a lot of repair yards
around in the country that could be used, without interfering
with the new building program, to upgrade the capability and
therefore the economy of these ships that were still afloat
and still in good operating condition by simply cutting off
the bow and the stern and putting in a new center section
that would double their capacity. The economies are obvious.
That's what led to the jumbo-izing.
And then from there you go to the construction of the
supertankers.
Well, that was going on simultaneously, but this was a way
of keeping up with the demand without waiting. It only took
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Marcello, Ronald E. & Van Nostrand, Stephen E. Oral History Interview with Stephen E. Van Nostrand, April 20, 1987, book, April 20, 1987; Denton, Texas. (https://texashistory.unt.edu/ark:/67531/metadc306889/m1/64/?q=%22~1%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Oral History Program.