Title XI Loan Increase Approved By MarAd For Chemical Carrier
Page 57116 words
Government
The Maritime Administration increased its Title XI loan guarantee commitment on the chemical carrier Chilbar from $24,244,000 to $27,148,000 after the cost of the vessel's stern section, taken from the Eagle Traveler, was included in computations.
The Maritime Administration has increased its Title XI loan guarantee commitment on the Chilbar, a chemical carrier owned by Chilbar Shipping Co., from $24,244,000 to $27,148,000.
The recently announced increase was a result of the inclusion of the cost of the vessel's stern section in the computations of the ship's actual cost. The stern section of the Chilbar was taken from a ship called Eagle Traveler. Its integration into the design of the otherwise new chemical tanker was not discussed in Chilbar's original Title XI guarantee application.
The Chilbar was built by Newport News Shipbuilding Co., Newport News, Va., and is currently in service. The vessel's Title XI guarantee covers 87½ percent of its $31,027,162 actual cost.
Mentioned in this article
Vessel
Chilbarchemical carrier
Eagle Travelership from which Chilbar's stern section was taken
Company
Chilbar Shipping Co.vessel owner
Newport News Shipbuilding Co.shipbuilder
Organization
Maritime AdministrationU.S. government agency
Transcribed from the November 1981 print edition of Maritime Reporter &
Engineering News. Text is OCR-derived and may contain errors.