A ship without a nationality -- the 41,000-ton Japanese-built oil tanker "Olympus" -- took her maiden plunge at Yokohama, Japan, June 14.
A ship without a nationality -- the 41,000-ton Japanese-built oil tanker "Olympus" -- took her maiden plunge at Yokohama, Japan, June 14. Doubt over the tanker's nationality arose when the Japanese Govt. authorized the ship's construction for a Liberian firm, the Olympus Shipping and Trading Company. The shipbuilders, Mitsubishi Nihon Industries Ltd., were granted low interest rates and cut-rate materials for construction of the "Olympus". But shortly before construction began last year, the name of the firm ordering the tanker was changed to the Pacific Sunrise Co., a United States affiliate of Indemitsu.
The Japanese Finance Ministry ruled that the ship's nationality and registry were listed as a convenience to gain benefit of lower construction costs. The Ministry claimed that the builders should refund the difference between low and regular rates of interest. However, the Japanese Transport Ministry held that the "Olympus" should be classified as a foreign ship inasmuch as another U.S. firm, the Gulf Oil Company, provided over half the vessel's construction costs.
At the launching ceremony, the tape was cut by Junko Idemitsu, daughter of a Idemitsu executive. Liberia's honorary consul in Japan, Mr. K. Kuroda, also attended the launching.