Title XI Approval For Three Product Carriers To Cost $197 Million

The M a r i t i m e Administration has approved in principle the application of First Attransco Tanker Corp., Second Attransco Tanker Corp., and Third Attransco Tanker Corp. for a Title XI guarantee to aid in financing the construction of three 50,884-deadweightton oil product carriers. The companies are s u b s i d i a r i e s of the American Transportation Co. Inc., New York.

National Steel and Shipbuilding Co., San Diego, Calif., is the proposed builder of the three 658- foot-long, 106-foot-wide vessels.

Deliveries of the first two tankers are scheduled for the autumn of 1982, with the third set to be delivered the following spring.

The applicants have indicated the vessels will be operated in the intercoastal trades of the United States, Puerto Rico, Hawaii and the Virgin Islands.

The total estimated cost of the three tankers is $197,007,000, or $65,699,000 per vessel. The Title XI guarantee will cover $173,- 380,000, or up to 87y2 percent of the total estimated actual cost.

Maritime Reporter Magazine, page 42, Jul 15, 1980

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