MarAd Approves Title XI Construction Guarantee For Six Tug/Supply Boats
Page 8383 words
Government
The Maritime Administration approved in principle a Marsea Marine application for a Title XI guarantee covering $19,640,800 of the $22,446,588 cost of six 108-foot tug supply vessels being built by Halter Marine.
The Maritime Administration has approved in principle an application by Marsea Marine, Inc., New Orleans, La., to aid in financing the construction of six tug supply vessels.
The 108-foot vessels, rated at 2,500 shp, are to operate in coastwise or foreign trade in the offshore exploration industry. Halter Marine, Inc., New Orleans, is building the vessels with deliveries scheduled between September and December of this year.
The approved Title XI guarantee covers $19,640,800 or 87½ percent of the estimated actual cost of $22,446,588.
Mentioned in this article
Company
Marsea Marine, Inc.New Orleans, La.; applicant
Halter Marine, Inc.New Orleans; shipbuilder
Organization
Maritime AdministrationMarAd; guarantee approver
Transcribed from the September 15, 1981 print edition of Maritime Reporter &
Engineering News. Text is OCR-derived and may contain errors.
