Canal Barge Building 75 Coal And Seven Tank Barges For $25.9 Million

The Canal Barge Co., Inc., 835 Union Street, New Orleans, La., has applied for a Title XI guarantee to finance the construction of 75 coal barges and seven tank barges.

Equitable Shipyards, Inc., New Orleans, has been named as the builder of 30 of the 195-foot-long coal barges. Twin City Shipyards, Inc., Sault Ste. Marie, Mich., is scheduled to build the remaining coal barges and St. Louis Ship, St. Louis, Mo., the tank barges. Canal Barge plans to use all the vessels on the U.S. inland waterways.

If approved, the Title XI guarantee would cover $22,692,000, 87 1/2 percent of the barges combined, estimated actual cost of $25,934,000.