London & Overseas Freighters Ltd. (LOF) was an ocean-going merchant shipping company that for most of its history was based in the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
.
Counties Ship Management
In 1920 Manuel Kulukundis from the
Aegean island of
Kasos
Kasos (; el, Κάσος, ), also Casos, is a Greek island municipality in the Dodecanese. It is the southernmost island in the Aegean Sea, and is part of the Karpathos regional unit. The capital of the island is Fri. , its population was 1,22 ...
and his cousin Minas Rethymnis founded a
shipbroking
Shipbroking is a financial service, which forms part of the global shipping industry. Shipbrokers are specialist intermediaries/negotiators (i.e. brokers) between shipowners and charterers who use ships to transport cargo, or between buyers and ...
business in London, England.
In 1934 Rethymnis & Kulukundis Ltd. (R&K) branched into shipowning,
[ establishing a nominally separate company to own each ship.][ From 1934 they managed the ships under the name of ]Counties Ship Management
Counties Ship Management Co. Ltd. (CSM) was an ocean-going merchant shipping company based in the United Kingdom. During the Second World War CSM merchant ships made a substantial contribution to supplying the British war effort, at a cost of ...
Ltd (CSM).[ Some R&K companies grew to own more than one ship, all of which were under CSM management.][
In the ]Second World War
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
from 1940 onwards CSM was controlled by the Ministry of War Transport
The Ministry of War Transport (MoWT) was a department of the British Government formed early in the Second World War to control transportation policy and resources. It was formed by merging the Ministry of Shipping and the Ministry of Transport ...
.[ CSM lost several ships in the war][ and others were damaged. In about 1946 CSM companies began replacing its losses by buying seven ]Liberty ship
Liberty ships were a class of cargo ship built in the United States during World War II under the Emergency Shipbuilding Program. Though British in concept, the design was adopted by the United States for its simple, low-cost construction. Mass ...
s from the UK Government.[
In 1948–49 ten ships from CSM companies were transferred to found a new R&K company, London & Overseas Freighters Ltd. However, in 1950 the CSM fleet was radically expanded with 34 Canadian "Fort and Park" ships.][
In the 1950s LOF became the main R&K company and the CSM fleet was reduced in size.][ Its last ship was MV ''Port Campbell'', which CSM took over in 1966 and renamed ''Kings Reach''.][ CSM's history effectively ended with her sale in 1970.][
]
Foundation of LOF
On 8 April 1948 the cousins founded a new company, London & Overseas Freighters Ltd, with the intention of owning tramp
A tramp is a long-term homeless person who travels from place to place as a vagrant, traditionally walking all year round.
Etymology
Tramp is derived from a Middle English verb meaning to "walk with heavy footsteps" (''cf.'' modern English ''t ...
oil tanker
An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quantities of unrefined crud ...
s.[ However, in 1949–50 LOF took over the dry cargo fleets of three R&K companies: Dorset Steamship Co Ltd, Putney Hill Steamships Co Ltd and Tower Steamship Co Ltd.][ In order to give the merged fleets a single "house" identity, LOF renamed all of its ships, giving each one a name beginning with ''"London"''.]
''Pentridge Hill'', built in 1941 by Bartram & Sons
Bartram & Sons was a shipbuilder on Wearside, North East England, that specialised in building cargo ships. It was founded in 1837, taken over in 1968, nationalised in 1977 and closed in 1978.
Early decades
George Bartram and John Lister founded ...
for Dorset Steamships became ''London Dealer''. The freighter ''Richmond Hill'', built in 1940 by Bartram & Sons in Sunderland
Sunderland () is a port city in Tyne and Wear, England. It is the City of Sunderland's administrative centre and in the Historic counties of England, historic county of County of Durham, Durham. The city is from Newcastle-upon-Tyne and is on t ...
for Putney Hill Steamships became ''London Craftsman''. The freighters ''Coombe Hill'' and ''Tower Hill'', built by William Doxford & Sons
William Doxford & Sons Ltd, often referred to simply as Doxford, was a British shipbuilding and marine engineering company.
History
William Doxford founded the company in 1840. From 1870 it was based in Pallion, Sunderland, on the River Wea ...
in Sunderland for Putney Hill Steamships in 1942, became LOF's ''London Artisan'' and ''London Banker'' respectively.
A number of the CSM ships transferred to LOF were Empire ship
An Empire ship is a merchant ship that was given a name beginning with "Empire" in the service of the Government of the United Kingdom during and after World War II. Most were used by the Ministry of War Transport (MoWT), which owned them and co ...
s, built to standard designs during the Second World War. Dorset Steamships' ''Castle Hill'', previously called ''Lulworth Hill'', became LOF's ''London Builder'' in 1950. She had been completed by the Shipbuilding Corporation
Shipbuilding is the construction of ships and other floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to befor ...
Ltd. in Newcastle-upon-Tyne
Newcastle upon Tyne ( RP: , ), or simply Newcastle, is a city and metropolitan borough in Tyne and Wear, England. The city is located on the River Tyne's northern bank and forms the largest part of the Tyneside built-up area. Newcastle is als ...
in 1942 as '' Empire Mandarin''.[ Another Dorset Steamships' vessel, ''Charmouth Hill'', which became LOF's ''London Mariner'' in 1950, had been completed in ]Hartlepool
Hartlepool () is a seaside and port town in County Durham, England. It is the largest settlement and administrative centre of the Borough of Hartlepool. With an estimated population of 90,123, it is the second-largest settlement in County ...
in 1943 as '' Empire Peak''. Tower Steamships' ''Tower Grange'', which became LOF's ''London Trader'', had been completed by the Shipbuilding Corporation Ltd. in 1945 as '' Empire Morley''.[ Another Putney Hill Steamships vessel, the ''Putney Hill'' (II) had been built in 1943 as . She was transferred to LOF in 1949 and at first renamed ''Forest Hill''.][ In 1950 LOF renamed her again as ''London Statesman''.][ In 1951 LOF sold her to Panamanian owners who renamed her ''Morella''.][
CSM had seven ]Liberty ship
Liberty ships were a class of cargo ship built in the United States during World War II under the Emergency Shipbuilding Program. Though British in concept, the design was adopted by the United States for its simple, low-cost construction. Mass ...
s, three of which were transferred to LOF. had been built in 1943 and CSM renamed her ''Primrose Hill'' in 1947.[
] LOF renamed her ''London Vendor'' in 1949 and sold her in 1951.[ had been built in 1943 and CSM renamed her ''Mill Hill'' in 1947.] She too was transferred to LOF in 1949 and sold in 1951.[ had been built in 1944 and CSM renamed her ''Bisham Hill'' in 1947.][ She was transferred to LOF in October 1951 and sold in January 1952 to Liberian owners wno renamed her ''Nausica''.][
]
Livery and personnel
LOF ships' hulls were red below the waterline and black above. The ships had white superstructures and carried the coat of arms of the City of London
The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London fr ...
facing forward just below the bridge
A bridge is a structure built to span a physical obstacle (such as a body of water, valley, road, or rail) without blocking the way underneath. It is constructed for the purpose of providing passage over the obstacle, which is usually somethi ...
. The LOF funnel livery was buff, ringed by a white band above a blue band, with a five-pointed red star on the two bands. It was a variant of a livery that some CSM ships had used since the 1930s.[ The house flag was a pennant of white above blue bearing a red star.][ The white and blue referred to the Greek origins of the Kulukundis, Rethymnis and Mavroleon families.][ The red star made the funnel livery suggest that of a ]Soviet
The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 to 1991. A flagship communist state, ...
merchant fleet, which sometimes caused some confusion.
LOF ships always worked under charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified. It is implicit that the granter retains superiority (or sovereignty), and that the rec ...
. Under the terms of some charters, the ship's funnel would be repainted from LOF colours to those of the charterer.
LOF employed UK officers on salaries but used crew from India hired on contracts for limited periods. This allowed it to pay crew wages lower than those agreed between the General Council of British Shipping
The UK Chamber of Shipping is the trade association and voice of the UK shipping industry, representing around 200 member companies. They work with Government, parliament, international organisations and others to champion and protect the industry ...
and the National Union of Seamen
The National Union of Seamen (NUS) was the principal trade union of merchant seafarers in the United Kingdom from the late 1880s to 1990. In 1990, the union amalgamated with the National Union of Railwaymen to form the National Union of Rail, ...
.
LOF's first tankers
LOF ordered new tanker ships, starting with the sister ship
A sister ship is a ship of the same class or of virtually identical design to another ship. Such vessels share a nearly identical hull and superstructure layout, similar size, and roughly comparable features and equipment. They often share a ...
s ''London Pride'' (I) and ''London Enterprise'' (I) built by Furness Shipbuilding at Stockton-on-Tees
Stockton-on-Tees, often simply referred to as Stockton, is a market town in the Borough of Stockton-on-Tees in County Durham, England. It is on the northern banks of the River Tees, part of the Teesside built-up area. The town had an estimated ...
and completed in 1950. LOF became a public company on 20 March 1951.
In 1952 LOF took delivery of five new tankers. Sir James Laing and Sons Ltd on the River Wear
The River Wear (, ) in North East England rises in the Pennines and flows eastwards, mostly through County Durham to the North Sea in the City of Sunderland. At long, it is one of the region's longest rivers, wends in a steep valley through th ...
in Sunderland
Sunderland () is a port city in Tyne and Wear, England. It is the City of Sunderland's administrative centre and in the Historic counties of England, historic county of County of Durham, Durham. The city is from Newcastle-upon-Tyne and is on t ...
, completed the trio ''London Glory'' (I), ''London Endurance'' and ''London Spirit'', while Furness Shipobuilding completed the slightly larger pair ''London Victory'' (I) and ''London Majesty''.
LOF had intended to operate a mixed fleet of tankers and dry cargo ships. However, the costs of buying new tankers rose considerably[ so by the end of 1953 LOF sold all of its dry cargo ships.] Between 1953 and 1955 Furness completed four more tankers for LOF. ''London Loyalty'' (1954) and ''London Integrity'' (1955) were sisters of ''London Victory'' and ''London Majesty''. ''London Splendour'' (I) (1953) ''London Prestige'' (1954) were a much larger pair: each. When LOF ordered ''London Splendour'' nearly three years earlier, some oil companies regarded this as being almost the maximum size of tanker that they could ever use.
In 1959 the Admiralty
Admiralty most often refers to:
*Admiralty, Hong Kong
*Admiralty (United Kingdom), military department in command of the Royal Navy from 1707 to 1964
*The rank of admiral
*Admiralty law
Admiralty can also refer to:
Buildings
* Admiralty, Traf ...
bareboat charter
A bareboat charter or demise charter is an arrangement for the chartering or hiring of a ship or boat, whereby no crew or provisions are included as part of the agreement; instead, the people who rent the vessel from the owner are responsible f ...
ed ''London Loyalty'' and ''London Integrity'' for the Royal Fleet Auxiliary
The Royal Fleet Auxiliary (RFA) is a naval auxiliary fleet owned by the UK's Ministry of Defence. It provides logistical and operational support to the Royal Navy and Royal Marines. The RFA ensures the Royal Navy is supplied and supported by ...
, who renamed them RFA ''Brambleleaf''[ and RFA ''Bayleaf''][ respectively.
]
Subsidiaries and joint ventures
In 1956 LOF in association with Philip Hill, Higginson & Co Ltd founded a subsidiary, London & Overseas Tankers, in Bermuda
)
, anthem = "God Save the King"
, song_type = National song
, song = " Hail to Bermuda"
, image_map =
, map_caption =
, image_map2 =
, mapsize2 =
, map_caption2 =
, subdivision_type = Sovereign state
, subdivision_name =
, e ...
. LOT took a 50% interest in another Bermudian company, London & Overseas Bulk Carriers.[ LOT ordered six tankers and LOBC ordered two ]bulk carrier
A bulk carrier or bulker is a merchant ship specially designed to transport unpackaged bulk cargo — such as grains, coal, ore, steel coils, and cement — in its cargo holds. Since the first specialized bulk carrier was built in 1852, econom ...
s.[
In 1957 LOF led a consortium of three companies that took over the ]Austin & Pickersgill
Austin & Pickersgill is a shipbuilding company formed in Sunderland in 1954.
History
Corporate history
Austin & Pickersgill was formed in Sunderland in 1954 by the merger of S.P. Austin & Son Ltd (founded by Samuel Peter Austin in c.1826) and ...
shipyard in Sunderland
Sunderland () is a port city in Tyne and Wear, England. It is the City of Sunderland's administrative centre and in the Historic counties of England, historic county of County of Durham, Durham. The city is from Newcastle-upon-Tyne and is on t ...
.[ In 1968 A&P took over another ]Wearside
Wearside () is a built-up area in both Tyne and Wear and County Durham, Northern England. It is named after the River Wear which flows through it and traditionally all in the County of Durham. In the 2011 census, its official name was the Sunder ...
shipyard, Bartram & Sons
Bartram & Sons was a shipbuilder on Wearside, North East England, that specialised in building cargo ships. It was founded in 1837, taken over in 1968, nationalised in 1977 and closed in 1978.
Early decades
George Bartram and John Lister founded ...
Ltd. In 1970 LOF bought out its partners to take 100% ownership of A&P.
More and bigger tankers
LOF and LOT concentrated on ordering tankers as large as ''London Splendour'' and ''London Prestige''. ''Splendour'' and ''Prestige'', like LOF's smaller tankers, had Doxford marine diesel engines
Marine is an adjective meaning of or pertaining to the sea or ocean.
Marine or marines may refer to:
Ocean
* Maritime (disambiguation)
* Marine art
* Marine biology
* Marine debris
* Marine habitats
* Marine life
* Marine pollution
Military
* ...
, but the ships that LOF and LOT ordered now followed the mid-1950s trend towards steam turbine engines for cargo ships. Furness Shipbuilding completed five turbine ships for the group: (1956), ''London Tradition'' (1957) and ''London Resolution'' (1957) for LOF,[ then ''Overseas Pioneer'' (1958)] and ''Overseas Explorer'' (1959) for LOT. Each had a pair of Richardsons Westgarth turbines that developed a total of 8,200 shaft horsepower
Horsepower (hp) is a unit of measurement of power, or the rate at which work is done, usually in reference to the output of engines or motors. There are many different standards and types of horsepower. Two common definitions used today are the ...
and double reduction-geared onto a single shaft to drive a single screw.[
Koninklijke Maatschappij on the ]Scheldt
The Scheldt (french: Escaut ; nl, Schelde ) is a river that flows through northern France, western Belgium, and the southwestern part of Netherlands, the Netherlands, with its mouth at the North Sea. Its name is derived from an adjective corr ...
in Flushing, Netherlands
Vlissingen (; zea, label=Zeelandic, Vlissienge), historically known in English as Flushing, is a Municipalities of the Netherlands, municipality and a city in the southwestern Netherlands on the former island of Walcheren. With its strategic l ...
, completed two very dissimilar tankers for LOF: the ''London Harmony'' in 1959 and ''London Confidence'' in 1962. Uddevallavarvet AB of Uddevalla
Uddevalla (old no, Oddevold) is a town and the seat of Uddevalla Municipality in Västra Götaland County, Sweden. In 2015, it had a population of 34 781.
It is located at a bay of the south-eastern part of Skagerrak. The beaches of Uddevalla are ...
in Sweden completed three tankers: ''London Independence'' for LOF in 1961[ and ''Overseas Ambassador'' and ''Overseas Discoverer'' for LOT in 1962.] At more than [ each, the three sister ships from Uddevallavarvet set a new record for the largest ships in the LOF group's fleet.
]
Back to dry cargo ships
Rheinstahl Nordseewerke
Nordseewerke Emden GmbH (sometimes abbreviated NSWE, in English: North Sea Company) was a shipbuilding company, located in the Emden Harbor of the north German city of Emden. Founded in 1903, shipbuilding ended in 2010, and the company was taken ...
of Emden
Emden () is an independent city and seaport in Lower Saxony in the northwest of Germany, on the river Ems. It is the main city of the region of East Frisia and, in 2011, had a total population of 51,528.
History
The exact founding date of E ...
in Germany completed two bulk carriers for London & Overseas Bulk Carriers: ''Overseas Courier'' in 1960 and ''Overseas Adventurer'' in 1963.
LOF returned to dry cargo ships in 1963 with the sister ships ''London Craftsman'', and ''London Tradesman'' all from Uddevallavarvet and ''London Banker'' (II) from Bijker's Aannemingsbedrijk of Gorinchem
Gorinchem ( or ), also spelled Gorkum, is a city and municipality in the western Netherlands, in the province of South Holland
South Holland ( nl, Zuid-Holland ) is a province of the Netherlands with a population of over 3.7 million as of Oc ...
on the IJssel
The IJssel (; nds-nl, Iessel(t) ) is a Dutch distributary of the river Rhine that flows northward and ultimately discharges into the IJsselmeer (before the 1932 completion of the Afsluitdijk known as the Zuiderzee), a North Sea natural harbour ...
in the Netherlands
)
, anthem = ( en, "William of Nassau")
, image_map =
, map_caption =
, subdivision_type = Sovereign state
, subdivision_name = Kingdom of the Netherlands
, established_title = Before independence
, established_date = Spanish Netherl ...
.[ Koninklijke Maatschappij completed ''London Advocate'' in 1964.] In December 1964, only a year after ''London Tradesman'' was completed, LOF sold her to the China National Machinery Import and Export Corporation, and in 1965 LOF replaced her with a sister ship from Uddevallavarvet, ''London Citizen''.[
LOF's shift of emphasis to dry cargo continued when Industria Navali Meccaniche Affini in ]La Spezia
La Spezia (, or , ; in the local Spezzino dialect) is the capital city of the province of La Spezia and is located at the head of the Gulf of La Spezia in the southern part of the Liguria region of Italy.
La Spezia is the second largest city ...
, Italy, converted seven large tankers to bulk carriers: ''London Resolution'', ''London Splendour'' (I), ''London Prestige'' and ''London Valour'' in 1966,[ ''London Tradition'' and ''Overseas Explorer'' (transferred to LOF and renamed ''London Explorer'') in 1967][ and ''Overseas Pioneer'' (transferred to LOF and renamed ''London Pioneer'') in 1968.][
]
Mayfair Tankers
In the 1960s LOF created a subsidiary in Greece, Mayfair Tankers, to benefit from the lower taxes in that country. In 1965 LOF transferred at least three tankers to its subsidiary. ''London Endurance'' became ''Erato'', ''London Glory'' became ''Giannina'' and ''London Spirit'' became ''Salamis''.[ ''Erato'' and ''Giannina'' were scrapped in Spain in 1969 and ''Salamis'' was scrapped in Taiwan in 1970.][
LOF transferred Mayfair Tankers to the ]flag of convenience
Flag of convenience (FOC) is a business practice whereby a ship's owners register a merchant ship in a ship register of a country other than that of the ship's owners, and the ship flies the civil ensign of that country, called the flag state ...
of Liberia
Liberia (), officially the Republic of Liberia, is a country on the West African coast. It is bordered by Sierra Leone to Liberia–Sierra Leone border, its northwest, Guinea to its north, Ivory Coast to its east, and the Atlantic Ocean ...
.[ The bulk carrier ''London Splendour'' (I) was registered in Liberia as ''Mayfair Splendour'' in 1970.][ In 1972 the ]Ministry of Defence
{{unsourced, date=February 2021
A ministry of defence or defense (see spelling differences), also known as a department of defence or defense, is an often-used name for the part of a government responsible for matters of defence, found in states ...
(MoD) returned ''Brambleleaf'' (''London Loyalty'') to LOF, who transferred her to Mayfair Tankers and registered her in Liberia as ''Mayfair Loyalty''.[ In 1973 the MoD returned ''Bayleaf'' (''London Integrity'') to LOF, who transferred her to Mayfair Tankers and registered her in Liberia as ''Mayfair Integrity''.][
Eventually LOF stopped operating ships ''via'' its Mayfair Tankers subsidiary. However, LOF continued transferring some ships to London & Overseas Tankers in order to pay less tax. These ships included ''Overseas Adventurer'', ''Overseas Ambassador'', ''Overseas Argonaut'', ''Overseas Courier'', ''Overseas Discoverer'', ''Overseas Explorer'' and ''Overseas Pioneer''.
]
The 1970s
In 1971 Kockums
Saab Kockums AB is a shipyard headquartered in Malmö, Sweden, owned by the Swedish defence company Saab Group. Saab Kockums AB is further operational in Muskö, Docksta, and Karlskrona. While having a history of civil vessel construction, Koc ...
of Malmö
Malmö (, ; da, Malmø ) is the largest city in the Swedish county (län) of Scania (Skåne). It is the third-largest city in Sweden, after Stockholm and Gothenburg, and the sixth-largest city in the Nordic region, with a municipal populat ...
in Sweden completed LOF's first supertanker
An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk cargo, bulk transport of petroleum, oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quant ...
, named ''London Pride'' (II) after the tanker of the same name launched in 1950. At [ she was a ]VLCC
An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quantities of unrefined crud ...
, larger than any other LOF ship before or since.
On 10 July 1972 ''London Statesman'' was unloading a cargo of rice at Nha Trang
Nha Trang ( or ; ) is a coastal city and capital of Khánh Hòa Province, on the South Central Coast of Vietnam. It is bounded on the north by Ninh Hòa District, Ninh Hoà town, on the south by Cam Ranh city and on the west by Diên Khánh Distri ...
in South Vietnam
South Vietnam, officially the Republic of Vietnam ( vi, Việt Nam Cộng hòa), was a state in Southeast Asia that existed from 1955 to 1975, the period when the southern portion of Vietnam was a member of the Western Bloc during part of th ...
when her engine room
On a ship, the engine room (ER) is the compartment where the machinery for marine propulsion is located. To increase a vessel's safety and chances of surviving damage, the machinery necessary for the ship's operation may be segregated into vari ...
flooded and she sank by the stern.[ Sabotage by the ]Viet Cong
,
, war = the Vietnam War
, image = FNL Flag.svg
, caption = The flag of the Viet Cong, adopted in 1960, is a variation on the flag of North Vietnam. Sometimes the lower stripe was green.
, active ...
was suspected.[ On 31 July she was refloated and towed to ]Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
for repairs.[ She remained in the LOF fleet until 1979.][
In 1973 the MoD bareboat chartered ''Overseas Adventurer'' as RFA ''Cherryleaf''.
LOF modernised its dry cargo fleet with four new SD14 shelter deck ships built by its A&P subsidiary: ''London Cavalier'', ''London Fusilier'' and ''London Grenadier'' in 1972 and the ''London Bombardier'' in 1973.]
The tanker fleet was modernised with three ships built by Götaverken
Götaverken was a shipbuilding company that was located on Hisingen, Gothenburg. During the 1930s it was the world's biggest shipyard by launched gross registered tonnage. It was founded in 1841, and went bankrupt in 1989.
History
The company w ...
of Hisingen
Hisingen () is the fifth-largest island of Sweden (after Gotland, Öland, Södertörn and Orust), with an area of . It is a river island, formed by the split of the Göta Älv at Bohus, and is defined to the east and south by the main arm of tha ...
in Sweden. These were ''London Enterprise'' (II), completed in 1974 for LOF, ''London Glory'' (II), completed in 1975 for a LOF subsidiary called London Shipowning Co Ltd and ''Overseas Argonaut'', completed in 1975 for a new company, Seagroup Bermuda, in which LOF held 50% of the shares.
LOF then modernised its bulk carrier fleet with three new B26 ships built by A&P: ''London Baron'', ''London Earl'' and ''London Viscount'', all completed in 1977.[
]
Welsh Ore Carriers
LOF bought a 50% share in Welsh Ore Carriers in 1961 and a further 1% in 1969. Under LOF control WOC bought new ships from A&P and Bartram including ''Welsh Herald'' in 1963,[ the SD14 shelter deck cargo ships ''Welsh Trident'' in 1973 and ''Welsh Troubadour'' in 1974 and the B26 bulk carrier ''Welsh Voyager'' in 1977.] WOC was renamed Welsh Overseas Freighters in 1977 and LOF bought the remaining 49% of shares from the West Wales Steamship Co in 1982. By then WOC had sold its SD14's, but ''Welsh Voyager'' joined the LOF fleet as ''London Voyager''.[
]
Adversity and restructuring
LOF's profitability was reduced by the 1973 oil crisis
The 1973 oil crisis or first oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC), led by Saudi Arabia, proclaimed an oil embargo. The embargo was targeted at nations that had supp ...
and the 1977 nationalisation of the UK's shipbuilding industry.[ LOF laid up a number of its ships in a bay near Piraeus in Greece, including the ''London Pride'' (II) in 1981.] LOF sold ''London Pride'' (II) in 1982 and she was scrapped in the Far East in 1983.[
LOF returned to smaller tankers with the ]Panamax
Panamax and New Panamax (or Neopanamax) are terms for the size limits for ships travelling through the Panama Canal. The limits and requirements are published by the Panama Canal Authority (ACP) in a publication titled "Vessel Requirements". ...
-sized ''London Victory'' (II) and ''London Spirit'' (II) completed by Mitsui
is one of the largest '' keiretsu'' in Japan and one of the largest corporate groups in the world.
The major companies of the group include Mitsui & Co. ( general trading company), Sumitomo Mitsui Banking Corporation, Nippon Paper Industri ...
in Japan in 1982. These were joined by ''London Enterprise'' (III), completed by Mitsui in 1992. After about 1986 the business began to recover. In 1989 Chevron
Chevron (often relating to V-shaped patterns) may refer to:
Science and technology
* Chevron (aerospace), sawtooth patterns on some jet engines
* Chevron (anatomy), a bone
* ''Eulithis testata'', a moth
* Chevron (geology), a fold in rock lay ...
made a two-year charter for ''London Victory'', later expanded into a five-year charter for both her and her sister ship ''London Spirit''.
In 1992 LOF moved to Bermuda
)
, anthem = "God Save the King"
, song_type = National song
, song = " Hail to Bermuda"
, image_map =
, map_caption =
, image_map2 =
, mapsize2 =
, map_caption2 =
, subdivision_type = Sovereign state
, subdivision_name =
, e ...
to restructure its debts. Mitsui completed three new Suezmax
"Suezmax" is a naval architecture term for the largest ship measurements capable of transiting the Suez Canal in a laden condition, and is almost exclusively used in reference to tankers. The limiting factors are beam, draft, height (because ...
tankers for the fleet: ''London Pride'' (III) in 1993 for charter to Chevron and ''London Glory'' (III) and ''London Splendour'' (II) in 1995 for spot market
The spot market or cash market is a public financial market in which financial instruments or commodities are traded for immediate delivery. It contrasts with a futures market, in which delivery is due at a later date. In a spot market, settle ...
tramp trading.[
In June 1995 Chevron's charters of ''London Spirit'' and ''London Victory'' expired.][ Chevron closed two of its refineries that year and did not renew the charters.][
]
Sale of the fleet
In 1997 a Swedish shipping company, Frontline Shipping AB, also moved its operations to Bermuda. Frontline took a 51% controlling share in LOF,[ ending its independent history 49 years after its incorporation.
Frontline renamed the Suezmax tankers ''London Pride'' (III), ''London Glory'' (III) and ''London Splendour'' (II) as ''Front Pride'', ''Front Glory'' and ''Front Splendour'' respectively.][ The ships' actual owner was the Bermuda-registered Ship Finance Limited (SFL), for which Frontline is the ship management company.
In February 2013 SFL terminated ''Front Pride''s charter and sold her to new owners who renamed her simply ''Pride''. As of April 2013 ''Splendour'' and ''Glory'' are still listed in the Frontline fleet.]
References
Further reading
*
*
*
{{DEFAULTSORT:London and Overseas Freighters
Organizations established in 1948
Organizations disestablished in 1997
Ships of London and Overseas Freighters
Defunct shipping companies of the United Kingdom
Shipping companies of Bermuda