Universal American Asks Title XI On Cargo Barge To Cost $18.5 Million

Feb 15, 1981 Page 13 81 words

Finance

Universal American Barge Corporation applied for a Title XI guarantee toward a 550-foot dry-bulk cargo barge to be built by Bay Shipbuilding at an estimated cost of $18,508,000.

Read in the magazine

Universal American Barge Corporation, a subsidiary of Universal American Shipping Corporation, Dover, Del., has applied for a Title XI guarantee to aid in financing the construction of a dry-bulk cargo barge.

Bay Shipbuilding, Sturgeon Bay, Wis., is the proposed shipbuilder, with delivery expected in August 1981. The 550-foot-long barge will be operated in coastal waters between Chesapeake Bay and Brayton Point, Mass. If approved, the Title XI guarantee will cover $16,194,000, or 87½ percent of the vessel's $18,508,000 estimated cost.

Mentioned in this article

Company

Universal American Barge Corporation applicant
Universal American Shipping Corporation parent, Dover, Del.
Bay Shipbuilding proposed shipbuilder, Sturgeon Bay, Wis.

GeoLocation

Brayton Point, Mass.
Chesapeake Bay

Transcribed from the February 15, 1981 print edition of Maritime Reporter & Engineering News. Text is OCR-derived and may contain errors.