June 15, 1976 - Maritime Reporter and Engineering News

Two Firms Request Aid For 165,000-DWT Tankers Costing $173.8 Million

Shipco 2295, Inc. and Shipco 2296, Inc., 611 Wilmington Trust Building, 110 West 10th Street, Wilmington, Del. 19801, have filed applications for Title XI Federal Ship Financing Guarantees to aid in financing the construction of two (one for each applicant) 165,000-dwt segregated ballast tankers.

Both vessels, estimated to cost a total of $173.8 million, are to be constructed by Avondale Shipyards, Inc., New Orleans, La., under a December 1974 contract between Avondale and the Standard Oil Company, an Ohio corporation.

The tankers will have a crew complement of 26 and a service speed of 14.6 knots.

Upon delivery, the tankers will be employed transporting crude oil from Valdez, Alaska, to the U.S. West Coast for Standard Oil Co. of Ohio. If crude oil from the Alaskan Pipeline is not available, the vessels will be employed in any lawful trade.

Both applicants will be incorporated under the laws of Delaware as wholly owned subsidiaries of Keystone Shipping Company.

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