MarAd Approves Title XI Guarantee For Eagle Dredge

Deputy Assistant Secretary of Commerce for Maritime Affairs Samuel B. Nemirow has approved in principle an a p p l i c a t i o n by E a g l e Dredging Corporation, Suite 3700, One Shell Square, New Orleans, La., for a Title XI guarantee to aid in financing the construction of one self-propelled hopper suction dredge. Eagle is owned by Bean-Volker Corporation and Royal Adriaan Volker Group B.V.

Avondale Shipyards, Inc., has been selected to build the dredge, with delivery scheduled for the fall of 1980. The dredge will have an overall length of approximately 328 feet and a molded beam of 68 feet. Its full load displacement at dredging draft will be 10,876 long tons, and it will be capable of a speed of 14 knots. Eagle anticipates that the vessel will be employed on Federal dredging projects, varying in duration from a few months to over a year.

The estimated actual cost of the dredge is $37,937,389; 87y2 percent of that amount is eligible for the Title XI guarantee.

Maritime Reporter Magazine, page 7,  Oct 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.