Mardrill Requests Title XI For Two Drilling Barges To Cost $20.5 Million
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Finance/Title XI
Mardrill, Inc. of Lafayette, La., seeks a $15,375,000 Title XI guarantee for two 190-foot inland waterway drilling barges being built by Par Industries.
Mardrill, Inc., Lafayette, La., has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of two 190-foot, inland waterway drilling barges. Intended for operation on the inland waters of Louisiana and Texas, the vessels are being built by Par Industries, Inc., New Iberia, La. They are scheduled to be delivered in July and August.
The requested guarantee is for $15,375,000, which is 75 percent of the $20,500,000 estimated cost of the two barges.
Mentioned in this article
Company
Mardrill, Inc.applicant, Lafayette, La.
Par Industries, Inc.builder, New Iberia, La.
Transcribed from the May 15, 1981 print edition of Maritime Reporter &
Engineering News. Text is OCR-derived and may contain errors.