MarAd Awards CDS For Mormac Conversions To Cost $4.4 Million Total

The Maritime Subsidy Board has authorized the award of construction- differential subsidy (CDS) for work by Maryland Shipbuilding and Drydock Company of Baltimore to increase the container-carrying c a p a c i t y of four Mariner Class vessels owned by Moore McCormack Lines of New York. The cost of the work is to be $1,105,087 per vessel, with the subsidy rate set at 40.82 percent.

The ships are the Mormacsaga, Mormacsea, Mormactide, and Mormacwave.

The conversion work will allow the carriage of 40-foot containers, and increase the total container capacity for each ship f r om 140 to 206 twenty-foot equivalent units.

The subsidy rate was based on a finding that Japan was the appropriate foreign s h i p b u i l d i ng center for subsidy computations, and that the price for the work in Japan would be $654,000 per vessel.

Maritime Reporter Magazine, page 42, Sep 1980

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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.