The Maritime Administration has approved in principle a Title XI application by Offshore Ship Services, Inc., 2017 Engineers Road, Belle Chasse, La. 70037, to aid in financing the construction of a 2,560-bhp oceangoing tug/supply vessel. The vessel is expected to be chartered to a major oil company engaged in offshore drilling or other energy projects.
If approved, Title XI financing would cover $2,800,000 or 87 percent of the estimated cost of $3,200,000. Rysco Shipyard, Inc., Blountstown, Fla., is building the vessel, which is scheduled for delivery in August.