Fabrikant Seeks Title XI On Towboats And Barges To Cost $18.67 Million

Fabrikant/Conway Applicants, New York, has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of two towboats and 35 jumbo hopper barges.

Jeffboat, Inc., Jeffersonville, Ind., was listed as the proposed builder of the twin-screw towboats, one 145 feet long and the other 160 feet. They are to be delivered in January and June 1982. The barges, all 200 feet long, have been delivered by Equitable Shipyards, New Orleans. All are intended for use on U.S. inland waters.

The requested guarantee is for $15,192,000 of the total estimated cost of $18,674,846 for all vessels. Up to 87 1/2 percent of the cost of the barges and 75 percent of the cost of the towboats are eligible for Title XI guarantees.