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In early 1952 with freight rates rising as a result of the Korean War, the Hadley Shipping Company took advantage of the market to sell their liberty ship "Cerinthus" for £580,000 to Gouldandris, securing a handy £135,000 profit on her purchase price. These funds enabled Hadleys to embark on a venture with Anglo-Saxon Petroleum and under the "Sale & Charter-back" programme. they took over a new-building contract with Harland & Wolff where a trio of "H" Class tankers were being built, Hull: 1469 -HARPA; 1469 - HARVELLA and 1470 as then un-named but later to become CERINTHUS, entering service in 1954 with a with a 5 year charter to Shell Tankers as Anglo-Saxon had by that time been restyled. It was not possible to obtain a fixed price contract at that time with the yard, but the delivered price would have been about £1,200,000 and the 5 years charter was at £1-5s-0d (£1.25) per ton per month. As far as I remember Cerinthus was a black oil ship so did not load products - unlike the "A" Class tanker Clymene which had coated tanks and spend a great deal of her life under the control of Shell Eastern, working in the Pacific. The Cerinthus was sold for demolition in 1976, arriving at Faslane on 23 July, an elderly but much loved lady. Hadleys were quite separate from Houlders (although Houlders did have and still do have a 5pct shareholding), the only connection being that the former took their crews from the latter, so if you were useful you generally got to work for HSC (or "Houlder's Senior Company").
 
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