The Maritime Administration increased its Title XI loan guarantee on an integrated CATUG tug/barge tanker unit owned by Second Tug Barge Corp. from $53,782,000 to $62,790,000 due to additional construction interest.
The Maritime Administration has increased its Title XI loan guarantee commitment on an integrated CATUG tug/barge tanker unit owned by Second Tug Barge Corp. from $53,782,000 to $62,790,000.
The increase of $10,296,000 was caused by additional construction interest on the vessel between the time of MarAd's initial commitment and the closing date of the guarantee agreement. The guarantee covers approximately 87 1/2 percent of the vessel's $71,761,000 actual cost. The vessel is expected to be delivered in October 1982.
Mentioned in this article
Organization
Maritime Administrationfederal agency (MarAd)
Company
Second Tug Barge Corp.vessel owner
Product
CATUGintegrated tug/barge tanker unit
Transcribed from the November 1981 print edition of Maritime Reporter &
Engineering News. Text is OCR-derived and may contain errors.
