Billy Pugh Offshore Limited 1981, a subsidiary of Billy Pugh Offshore, Inc., Corpus Christi, Texas, has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of two 180-foot tug/supply vessels. These 3,000-horsepower, twin-screw diesel-powered vessels are to be used in offshore oil exploration. Rysco Shipyard, Inc., Blountstown, Fla., is the proposed builder.
If approved, Title XI financing would cover $4,800,000, or approximately 87 1/2 percent of the estimated cost of $6,743,865. Deliveries are scheduled for October 1981 and February 1982.