MarAd Approves Title XI For Self-Unloader Costing $56.4 Million

Deputy Assistant Secretary for Maritime Affairs, Maritime Administration, Bruce A. McAllister has approved in principle an application by Oglebay Norton Co., Cleveland, Ohio, for a Title XI guarantee to aid in financing the construction of a self-unloading bulk vessel.

The 61,500-deadweight-ton vessel, which will have an overall length of 1,000 feet and a molded beam of 105 feet, is to be employed in the transport of iron ore pellets from Lake Superior to Lake Erie ports.

Bay Shipbuilding Corp., Sturgeon Bay, Wis., is the proposed builder, and delivery is expected in May 1981.

The Title XI guarantee will cover $49,368,000, or 87i/» percent of the estimated actual cost of $56,421,000.

Maritime Reporter Magazine, page 4,  Dec 1980 southern British Columbia

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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.