Cuzco, Inc., a subsidiary of Underwater Completion Team, Inc., Curtis Lane, New Iberia, La., has applied for a Title XI guarantee to aid in financing the construction of an aluminum catamaran diving tender/support vessel.
The 124-foot vessel will be powered by four diesel engines each rated at 626 shaft horsepower. It is expected to operate in the Gulf of Mexico.
If approved, the Title XI guarantee would cover $4,400,000 or approximately 87½ percent of the estimated actual cost of $5,038,756.
Underwater Completion Team is also the proposed builder of the vessel which is to be delivered in September.