Contracts Signed For Cumberland Shipping Ro/Ro Barge Vessel

Contracts were signed on December 22, 1977, for the subsidized construction of a self-propelled, roll - on / roll - off (ro / ro) barge vessel at Seatrain Shipbuilding Corp., New York, N.Y.

The negotiated fixed-price of the commercial vessel is $12,796,324.

The vessel, which will have the capacity to carry 113 forty-foot trailers, is the first of its kind to be built with the aid of construction- differential subsidy. It will have an overall length of 446 feet, a beam of 80 feet, and a depth of 271/2 feet.

The Maritime Administration will pay $5,286,324, or 41.34 percent, of the cost of the vessel.

This represents the difference between the fixed price and the estimated cost of having the vessel built in a foreign shipyard. The government also will pay the entire cost of $43,292 for national defense features incorporated in the vessel.

The ro/ro is being built for Cumberland Shipping Company, Inc., One Chase Manhattan Plaza, New York, N.Y. Cumberland plans to use it in the U.S. foreign trade, primarily in the Caribbean.

Maritime Reporter Magazine, page 7, Jan 1978

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.