The Maritime Administration has approved an application by Hartford National Bank & Trust Co. to amend its Title XI loan guarantee to aid in financing a hopper suction dredge. The amendment will increase the estimated cost of the vessel (which is used to compute the amount of the guarantee) from $34,947,577 to $40,043,421. The guarantee amount was increased from $30,579,000 to $35,037,000 but remains approximately 87 1/2 percent of the vessel's estimated cost.
Avondale Shipyards, Inc. is building the dredge and expects to deliver it in 1982. The 372-foot-long, 9,980-dwt vessel will be powered by two 6,900-bhp diesel engines. Upon its completion, the dredge will be chartered to Carlisle Dredging, Inc., New York, which under an earlier name, National Dredging, Inc., filed the vessel's original Title XI application.