New Company Plans To Build Two Bulk/Container Ships At Cost Of $156 Million
First American Bulk Carrier Corporation, a new company owned by the Pension Fund of the Marine Engineers' Beneficial Association (MEBA) and General Shipholding S.A., a firm organized in Luxemburg, has applied to the Maritime Administration for construction differential subsidy (CDS) for two 40,- 000-dwt combination dry-bulk/container carriers.
The new company also plans to apply for operating differential subsidy (ODS) and Title XI financing guarantees for the two ships.
Estimated to cost $78 million each, the vessels would be powered by slow-speed diesel engines. The ODS, if approved, would pay for up to 50 percent of that amount.
Levingston Shipbuilding Company of Orange, Texas, is the proposed builder, with deliveries set for September 1982 and April 1983.
Each of the seven-hold ships would have two onboard, 30-ton gantry cranes, and capacity to carry about 1,300 TEUs.
The combination carriers would operate on a triangular trade route, unique for the U.S. flag, hauling mineral sands or alumina from Australia to U.S. Gulf or East Coast ports; non-preference bulk loads such as phosphate and grain from the U.S. to Europe ; and containerized cargoes from Europe to Australia and New Zealand. It is estimated that the triangular voyage would be made in 114 days — 85 days at sea, 26 days in port, and three days in canal transits.
A typical itinerary for the service could be loading containers at Southampton, Hamburg, Zeebrugge, and Livorno for carriage to Melbourne, Sydney, and Freemantle, Australia, and Auckland, New Zealand; transport of mineral sands from Geraldton, Australia, to Gulfport, Miss.; and shipment of grain from New Orleans to Antwerp.
First American's application for CDS indicates that the break-even point for the two vessels would be about $5.8 million of cargo revenue annually at 80 percent of capacity.
The application further lists the directors of First American as Jesse M. Calhoon, MEBA president and board chairman of its Pension Fund; Leon Shapiro, national vice president of MEBA and secretary-treasurer of the union's District No. 1; and Jules Bingham, a senior partner of Bingham, Bigotte & Company of New York, shipping agents and brokers.
Other stories from August 15, 1980 issue
- Red Fox Will Build Jackup Barges At Newly Acquired Yard page: 6
- James Steadman Joins Halter Marine As VP For Special Assignments page: 6
- Simrad Introduces New Trawl Echo Recorder- Literature Available page: 8
- Robert Strasser Joins MacGregor, U.S.A. As Technical Director page: 8
- Bird-Johnson Appoints Richard E. McGinnis A Trustee And Director page: 9
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- Nav-Com Relocates To Larger Quarters page: 16
- Maumenee, Roy And Snellman Promoted At Alabama Dry Dock page: 18
- Appledore And DnV To Assist In Operation Of Okpo Shipyard page: 18
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- Marland Has New MSD For Smaller Vessels- Literature Available page: 20
- Waller & Associates To Provide Engineering Services For Ingram page: 20
- San Francisco To Build New Fireboat Designed By Morris Guralnick page: 21
- Halter Delivered 30 Big Commercial Vessels In First Half Of 1980 page: 22
- James Rhodes Appointed Communications Director For Navidyne Corp. page: 22
- B&W Yard Given Danish Gov't Guarantee For Bulk Carrier Construction page: 24
- Transoceanic Designated As U.S. Forwarder For NACAP Project page: 26
- Griff Lee, McDermott VP, Elected To National Academy Of Engineering page: 28
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- Lucander And Dowhos Form Design Association page: 29
- American Manufacturing Announces Three Sales Appointments page: 32
- Gene Ossi Establishes New Automation Firm- Brochure Available page: 32
- Trikora Lloyd Buys Three Ships At Total Cost Of $45 Million page: 32
- Michael Warren Joins Farboil As National Accounts Manager page: 32
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- Dillingham Forms New Subsidiary To Operate In Gulf Coast Area page: 34
- Hydranautics Awarded BP Magnus Field Platform Contract page: 34
- Collins Elected President And General Manager Of Houston Systems Mfg. page: 34
- Multipurpose Cargo Vessel 'Sarita' Delivered By Hitachi page: 34
- David Jackson Appointed Vice President For Sun State Marine page: 37
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- Farrell Lines Announces Three New Appointments— Breslin To VP-Controller page: 38
- Gaston Joins Bulkfleet Marine As Manager Of Engineering Services page: 38
- Three New Managers Appointed By CDI Marine Company page: 39
- Hayward Marine Products New Name For Former Mechanical Marine page: 39
- Miles Heads Barber Blue Sea Activities In North America page: 40
- First Vessel Extruded From Covered Hall At Cammell Laird page: 40
- McDermott Division Gets Two Contracts For Irish Sea Gas Projects page: 41
- New Company Plans To Build Two Bulk/Container Ships At Cost Of $156 Million page: 42
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- Carriere Named Manager Of Lykes M&R Division In San Francisco page: 44
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