he had found through his research. With the profits he continued into tin, and as he was successful he was offered a job as an analyst by his broker, so leaving him with less time for concluding his research. Into whaling In 1927, Næss got to know Rupert Trouton, and he presented Næss with a plan to buy control of his father-in-law's whaling enterprise, the Norwegian company A/S Hektor. In establishing the Hektor Whaling Ltd, Næss developed his banking experience and contacts in City. Næss took £50,000 of the company's total capital of £600,000, a gamble that was to make him a huge profit. Due to his success in this enterprise, he was contacted by the Norwegian whaling pioneers Torger Moe and Johan Rasmussen in the summer of 1928. They asked for his help to arrange financing of their Viking Whaling Company Ltd, as they planned to build one of the world's first whale factory ship. The vessel Vikingen was to be built as a tanker, with the whale processing factory on its deck; thus being able to trade both as a factory ship and a tanker. Næss found the prospect very interesting, arranged the financing and the first whaling company trading on the LSE started in January 1929. Næss did receive some critique from Norway for "selling out know-how" to the British, as whaling was a huge Norwegian industry. Næss' view was that the capital was difficult to obtain in Norway and that the crew and supplies would come from Norway anyway. Vikingen, with a deadweight tons of 15,000 tons was delivered in September 1929 and sailed for its first season, which was a huge success. Enter the Panama flag However, there were problems. As Vikingen was British registered, Norwegian stockowners were taxed twice. In order to remedy this, Næss found the innovative solution of moving the administration to France and registering the vessel Vikingen in Panama, as US-owned vessels had done since 1922. Næss had to overcome a number of obstacles, one of them arranging a tax agreement between the US and Panama. In concluding this agreement Næss got assistance from Standard Oil Company of New Jersey. After much research and work a Panama company named Viking Corporation was established and the Vikingen with its whaling vessels was sold to that company in 1931. The various Norwegian sailors' organisations were informed that all wages and agreements would remain