Title XI Sought For 116 Barges And 12 Tugs To Cost $92.2 Million

Sep 15, 1981 Page 4 125 words

Finance/Contracts

Florida Barge Lines Corp., a subsidiary of Central Gulf Lines, has applied for a Title XI guarantee to finance 116 river barges and 12 tugs to operate on the Mississippi and Ohio Rivers.

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Florida Barge Lines Corp., a subsidiary of Central Gulf Lines, Inc., Number Two Canal Street, New Orleans, La., has applied for a Title XI guarantee to aid in financing the construction of 116 river barges and 12 tugs.

Bergeron Barges, Inc., St. Bernard, La., will build the open hopper-type, 3,000-ton barges. Jeffboat, Inc., Jeffersonville, Ind., has been named to build two 8,400-hp river tugs. Builders and characteristics of the remaining tugs have not been announced. All of the vessels will operate on the Mississippi and Ohio Rivers. Most are expected to be delivered in 1982 and 1983.

If approved, the Title XI guarantee would cover $80,742,550, or 87½ percent of the barges' and 75 percent of the tugs' combined estimated actual cost of $92,277,200.

Mentioned in this article

Company

Florida Barge Lines Corp. applicant, subsidiary of Central Gulf Lines
Central Gulf Lines, Inc. parent company, New Orleans, La.
Bergeron Barges, Inc. barge builder, St. Bernard, La.
Jeffboat, Inc. tug builder, Jeffersonville, Ind.

GeoLocation

Mississippi River operating area
Ohio River operating area

Transcribed from the September 15, 1981 print edition of Maritime Reporter & Engineering News. Text is OCR-derived and may contain errors.