Approve $3.8-Million MarAd Title XI Guarantee For 188-Foot Pipelay Barge
Page 7580 words
Government/Finance
Acting Maritime Administrator Bruce McAllister approved in principle a Title XI guarantee of $3,836,000 for Pipelines, Inc. to help finance a 188-foot combination pipelay/bury derrick barge built by Houma Fabricators.
Acting Maritime Administrator Bruce McAllister recently approved in principle an application from Pipelines, Inc. of Harvey, Maurice, La., for a Title XI guarantee to aid in financing a combination pipelay/bury derrick barge. The 188-foot barge was built by Houma Fabricators, Inc., Harvey, La., and was delivered last March.
It is anticipated the vessel will operate primarily in the Gulf of Mexico. The approved guarantee is for $3,836,000, or up to 75 percent of the barge's estimated depreciated actual cost.
Mentioned in this article
Company
Pipelines, Inc.applicant, Harvey, Maurice, La.
Houma Fabricators, Inc.barge builder, Harvey, La.
Contact
Bruce McAllisterActing Maritime Administrator
GeoLocation
Gulf of Mexico
Transcribed from the October 15, 1981 print edition of Maritime Reporter &
Engineering News. Text is OCR-derived and may contain errors.