Parsons Marine Steam Turbine Company Parsons Marine Steam Turbine Company Parsons Marine Steam Turbine Company was a British engineering company based in Wallsend, North East England, on the River Tyne. The company was founded by Charles Algernon Parsons in 1897 with £500,000 of capital, and specialised in building the steam turbine engines that he had invented for naval use. The first ship to use a Parsons propulsion system was "Turbinia", launched in 1894; the successful demonstration of this vessel led to the creation of the company and the subsequent construction of the engines for the first two turbine-powered destroyers for the Navy, and , launched
Adelaide Steamship Company and projects. Consequently, after the war, the company diversified into towage, shipbuilding, and the shipping of salt, coal and sugar. On 1 January 1964, its interstate fleet was merged with that of McIlwraith McEacharn in a new company, Associated Steamships Limited, in which Adelaide Steamship Company held 40%. Also in 1964, the merged company developed the world's first purpose built container ship, MV "Kooringa". Bulkships Limited, in which Adelaide Steamship held a 40% interest in 1965, acquired all the shares in Associated Steamship Limited in 1968. In 1977 the company's interest in Bulkships was disposed of and Adelaide Steamship Company