EXHIBIT 10.193

                       FIRST AMENDMENT TO
                      FIRST NAVAL MORTGAGE

          This   First   Amendment   to  First   Naval   Mortgage   (this
"Amendment"),  made as of April 21, 1997, by TRB HOLDING  CORPORATION,  a
Delaware    corporation    (the   "Mortgagor"),    whose    address    is
901  Threadneedle,  Suite  200,  Houston,  Texas  77079,  TRB  SUBSIDIARY
CORPORATION, a Delaware corporation ("TRBS"), which has the same  address
as  the  Mortgagor,  to  NISSHO IWAI EUROPE PLC, an English  corporation,
whose address is Bastion House, 140 London Wall, London, EC2Y SJT, United
Kingdom (the "Lender");

                            WHEREAS:

          1.    Mortgagor  has executed and delivered to the  Lender  the
First Naval Mortgage dated as of April 7, 1997 (the "Original Mortgage"),
recorded  at Entry No. 6108, Volume 255 in the Registry Journal  Book  of
the Republic of Panama which covers the vessel known as "Seillean", Gross
Register  Tons  (GRT): 50,928.00; Net Register Tons:  15,278.00,  Length:
236.47   meters,  Width:  37  meters,  Depth:  19.80  meters,   Permanent
Navigation   Patent  No.  23272-96,  Radio  Call  Letters:   3FPF6,   and
Registration No. 25519-PEXT, and with the home port of Panama  City,  the
Republic of Panama (the "Vessel") to secure, among other obligations, the
obligations  of  Mortgagor, Reading & Bates (U.K.)  Limited,  an  English
limited  liability company (the "Charterer") and Lender  under  the  Loan
Agreement  (the "Loan Agreement") dated as of December 14, 1996.   Unless
otherwise  defined  herein, all capitalized terms used  herein  have  the
meanings assigned thereto in the Original Mortgage.

          2.    The Mortgagor has transferred a 10% undivided interest in
and  to  the  Vessel to TRBS pursuant to a Bill of Sale dated  April  21,
1997,  which interest is transferred subject to the lien and mortgage  of
the  Original Mortgage and the Lender has consented to such  transfer  in
accordance with the terms hereof.

          3.    This  Amendment  is  entered in to  for  the  purpose  of
evidencing  TRBS'  acknowledgment of  such  lien  and  mortgage  and  the
Lender's consent to such transfer.

          4.    TRBS  will derive substantial benefit from obtaining  its
interest in the Vessel.

          NOW, THEREFORE, THIS MORTGAGE WITNESSETH:

          That  in  consideration of the premises and of other  good  and
valuable  consideration, the receipt of which is hereby acknowledged,  to
secure  and  guarantee  the payment on demand of  the  Obligations,  TRBS
hereby  executes and constitutes a first and absolute naval  mortgage  in
accordance with the provisions of Chapter V, Title IV of Book II  of  the
Code  of  Commerce, and the pertinent provisions of the  Civil  Code  and
other  legislation  of  the Republic of Panama, upon  its  10%  undivided
interest  in  and  to the Vessel, including all masts,  boilers,  cables,
engines,  machinery, bowsprits, sails, rigging, boats,  anchors,  chains,
tackle,  apparel,  furniture,  fittings,  tools,  pumps,  equipment   and
supplies,  and  all  other appurtenances and accessories  and  additions,
improvements and replacements now or hereafter belonging thereto, whether
or  not removed therefrom, property of the shipowner, of Panamanian  flag
and registry;

          TO HAVE AND TO HOLD all and singular the above described Vessel
unto the Lender, its successors and assigns, forever;

          PROVIDED, HOWEVER, that if Mortgagor and TRBS, their successors
or  assigns  shall  perform, discharge and observe all and  singular  the
terms,  the  Obligations and the other covenants and  agreements  herein,
then  this  Mortgage shall cease, otherwise to remain in full  force  and
affect.

          1.    TRBS  agrees that its interest in the Vessel and  related
property  is subject to the lien of the Original Mortgage, although  TRBS
is  not  otherwise personally liable for the obligations under  the  Loan
Agreement.

          2.   TRBS covenants and agrees to the extent of its interest in
the  Vessel,  to  perform  all obligations of  the  Mortgagor  under  the
Original  Mortgage in the same manner as if TRBS were an  original  party
thereto as follows:

          3.    All notices to the Mortgagor and the Lender hereto  shall
be  given at the addresses and in the manner set forth in Section 9.02 of
the  Loan  Agreement and all notices to TRBS shall be to the address  set
forth in the preamble and sent in the manner set forth in Section 9.02 of
the Loan Agreement.

          4.   All covenants and agreements of Mortgagor herein contained
shall  bind Mortgagor and TRBS, their successors and assigns,  and  shall
inure to the benefit of Lender and its successors and assigns.  Following
any  assignment hereof by Lender, any reference herein to "Lender"  shall
be deemed to refer to the assignee.

          5.    If  any provision of this Amendment be held to be invalid
under  the provisions of any applicable law, such invalid provision shall
be  deemed  deleted from this Amendment but the validity of the  Mortgage
shall not otherwise be affected.

          6.   Except as amended hereby the Original Mortgage shall be in
full force and effect.

          7.    TRBS,  Mortgagor  and Lender confer a  Special  Power  of
Attorney  with right of substitution upon Messrs. ICAZA, GONZALEZ-RUIZ  &
ALEMAN, a law firm domiciled in the City of Panama, Republic of Panama to
take  all  necessary steps to record this instrument of mortgage  in  the
Public Registry Office of the Republic of Panama, and do whatsoever  said
law firm may consider appropriate for the fulfillment of any and all laws
and regulations governing the ship mortgage in the Republic of Panama.

          IN  WITNESS WHEREOF, the undersigned have caused this Amendment
to be executed as of the day and year first above written.


                              TRB HOLDING CORPORATION


                              By:_____________________________
                                   T. W. Nagle
                                   Executive Vice President
                                   Finance and Administration


                      NOTARIAL CERTIFICATE

          I,  the  undersigned, NOTARY PUBLIC, duly authorized,  admitted
and  sworn,  residing  and practicing in Houston, Harris  County,  Texas,
U.S.A.,

DO HEREBY CERTIFY THAT:

     I.     T.  W.  Nagle,  as  Executive  Vice  President  Finance   and
Administration  of the above mentioned corporation did sign  and  deliver
the  above  written  mortgage  in  my presence  and  that  the  signature
appearing above is his authentic signature.

     II.   Sufficient proof has been produced to me that T. W. Nagle  has
power  to execute said mortgage on behalf of the corporation.  I  further
certify  that  the above signature of T. W. Nagle was set thereon  in  my
presence and is, therefore, authentic.

          IN  TESTIMONY WHEREOF, I have hereunto subscribed my  name  and
affixed my seal of office this _________ day of __________ in the year of
Our Lord One thousand nine hundred ninety-seven.


                                   
                                   Notary Public


                          (Apostille)



                              TRB SUBSIDIARY CORPORATION


                              By:______________________________
                                   T. W. Nagle
                                   Vice President and Treasurer


                      NOTARIAL CERTIFICATE

          I,  the  undersigned, NOTARY PUBLIC, duly authorized,  admitted
and  sworn,  residing  and practicing in Houston, Harris  County,  Texas,
U.S.A.,

DO HEREBY CERTIFY THAT:

     I.    T.  W.  Nagle, as Vice President and Treasurer  of  the  above
mentioned corporation did sign and deliver the above written mortgage  in
my  presence  and  that the signature appearing above  is  his  authentic
signature.

     II.   Sufficient proof has been produced to me that T. W. Nagle  has
power  to execute said mortgage on behalf of the corporation.  I  further
certify  that  the above signature of T. W. Nagle was set thereon  in  my
presence and is, therefore, authentic.

          IN  TESTIMONY WHEREOF, I have hereunto subscribed my  name  and
affixed my seal of office this _________ day of __________ in the year of
Our Lord One thousand nine hundred ninety-seven.


                                   
                                   Notary Public


                          (Apostille)


                     ACCEPTANCE OF MORTGAGE

          I, the undersigned, as Senior Vice President and Senior General
Manager of Houston office of NISSHO IWAI EUROPE, PLC., referred to as the
"Lender"  in  the  above  First  Preferred  Ship  Mortgage  on  the  m.v.
"Seillean",  hereby ACCEPTS for all legal purposes said  First  Preferred
Ship Mortgage on behalf of the "Lender".

Date:                              NISSHO IWAI EUROPE PLC.


                              By:__________________________________
                                   Kazutoshi Kimura
                                   Senior Vice President and Senior
                                   General Manager of Houston Office



         NOTARIAL CERTIFICATE OF ACCEPTANCE OF MORTGAGE

          I,  the  undersigned, NOTARY PUBLIC, duly authorized,  admitted
and  sworn,  residing  and practicing in Houston, Harris  County,  Texas,
U.S.A.,

DO HEREBY CERTIFY THAT:

     I.    Kazutoshi Kimura, as Senior Vice President and Senior  General
Manager of Houston office of the above mentioned corporation did sign and
accept  the above written mortgage in my presence and that the  signature
appearing above is his authentic signature.

     II.   Sufficient  proof  has  been produced  to  me  that  the  said
Kazutoshi  Kimura  has power to execute said mortgage on  behalf  of  the
corporation.   I  further certify that the above signature  of  Kazutoshi
Kimura was set thereon in my presence and is, therefore, authentic.

          IN  TESTIMONY WHEREOF, I have hereunto subscribed my  name  and
affixed my seal of office this _________ day of __________ in the year of
Our Lord One thousand nine hundred ninety-seven.


                                   
                                   Notary Public


                          (Apostille)