J. Ray McDermott & Co. Building Four Offshore Vessels For Briley

Briley Offshore, Inc., 1001 Pinhook Road, Lafayette, La., has applied for a Title XI guarantee to aid in financing the construction of four offshore towing/ supply vessels.

The applicant, a new corporation formed to operate the four vessels, indicated that they will be employed initially in the Gulf of Mexico, but ultimately may be used in other offshore areas, including the Gulf of Alaska, and East and West Coasts of the United States. They are designed to service the offshore oil and related industries, and are capable of transporting fuel, water, frozen foods, construction equipment and other materials.

J . Ray McDermott & Company, Morgan City, La., was awarded the contract to construct the four vessels. Each of the 192-foot vessels—capable of operating year-round in most waters of the world—will be powered by two diesel engines with a combined horsepower of 2,600 to 3,000.

The Title XI guarantee would be for approximately $9,677,000, which represents 87% percent of the total cost of the four vessels.

Maritime Reporter Magazine, page 8, Jul 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.