Acting Maritime Administrator Bruce A. McAllister recently approved an increase in the cost of reconstructing the 121,739-dwt tanker Overseas Boston from $29,371,582 to $37,215,848. The action increases the maximum Title XI guarantee available to aid in financing the project from $25,700,000 to $32,563,867.
The vessel, ex-Seatiger, was built by Mitsubishi Heavy Industries, Ltd., Hiroshima, Japan, in 1974. It was wrecked off the coast near Nederland, Texas, in April 1979 and abandoned. It was purchased later that year by Cambridge Tankers, Inc., a subsidiary of Overseas Shipholding Group, New York.