Huthnance Seeks Title XI On Two Jackup Barges To Cost $59.6 Million Total

Huthnance Drilling Company/ Vanguard I and Charger II, Ltd.

of Houston has applied to the Maritime Administration for a Title XI mortgage guarantee to aid in financing the construction of two jackup drilling barges.

The 180-foot by 180-foot, 10,- 848-dwt barge being built for Vanguard I by Ingalls Shipbuilding, Pascagoula, Miss., is scheduled for delivery by July 30, 1981.

Baker Marine Corporation of Ingelside, Texas, expects to complete the other 174-foot by 162- foot, 6,194-dwt barge for Charger II by September 1981. Huthnance Drilling plans to operate both vessels in the Gulf of Mexico.

The estimated cost of the Vanguard I is $34,396,211; estimated cost of the Charger II is $25,259,- 041. If approved, the Title XI guarantee will cover $44,700,000, or 75 percent of the $59,655,252 estimated total cost of both vessels.

Maritime Reporter Magazine, page 27,  Oct 1980 Middle East

Read Huthnance Seeks Title XI On Two Jackup Barges To Cost $59.6 Million Total in Pdf, Flash or Html5 edition of October 1980 Maritime Reporter

Other stories from October 1980 issue

Content

Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.