Mideast War Underlines The Vital Need To Increase Domestic Oil Production In The U.S. The war in the Mideast has once again underlined oil's pivotal role in the maintenance of a healthy world economy. We depend on oil for much more than land and air transportation.
In a deal worth up to $500 million and which would create the world's largest support vessel fleet, Tidewater is negotiating the acquisition of Zapata Gulf Marine. An agreement between the two U.S. groups would combine the 304 vessels of Zapata with the 303-vessel fleet of Tidewater.
William J. Holcombe has been elected chairman and chief executive officer of Transamerica Delaval Inc., the manufacturing subsidiary of Transamerica Corporation. Announcement of Mr. Holcombe's election was made by Transamerica Corporation chairman and chief executive officer James R.
Todd Shipyards Corporation has reported improved sales and earnings f o r the first quarter ended June 29, 1980. Todd currently has a backlog of $1.5 billion, and a good earnings trend is expected to continue, the company reported. At its Annual Shareholders Meeting,
Tidewater said that certain provisions of the newly enacted "American Jobs Creation Act of 2004" could have a significant positive effect on its future earnings and cash flows. The Act. which has been approved by both the United States Senate and House of Representatives,