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 of Malmö in Sweden completed LOF's first supertanker, named London Pride (II) after the tanker of the same name launched in 1950. At she was a VLCC, larger than any other LOF ship before or since. On 10 July 1972 London Statesman was unloading a cargo of rice at Nha Trang in South Vietnam when her engine room flooded and she sank by the stern. Sabotage by the Viet Cong was suspected. On 31 July she was refloated and towed to Singapore 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 of Hisingen 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 and the 1977 nationalisation of the UK's shipbuilding industry. LOF laid up a number of its