Allied Barge, Inc., a subsidiary of Allied Towing Corporation, Norfolk, Va., has applied to the Maritime Administration for a Title XI guarantee to aid in financing the reconstruction of the bulk carrier Seadrift into a multiple product liquid and dry-bulk carrier.
Allied Repair Service, Inc., Norfolk, has been proposed to perform the reconstruction work on the 523-foot-long, diesel-powered vessel, with delivery set for March 1981. The applicant plans to use the vessel along the East and Gulf Coasts of the United States. The estimated cost of the work is $8 million. The requested guarantee is for 87½ percent of that amount, or $7 million.