Tenn-Tom Towing Asks Title XI On Three Vessels To Cost $2.5 Million

Tenn-Tom Towing, Inc., Fairhope, Ala., has applied to the Maritime Administration for a Title XI guarantee to aid in financing the construction of two steel oil barges and one twinscrew towboat.

The 264-foot-long barges will be built by Nashville Bridge Company, Nashville, Tenn. Rayco Shipbuilders & Repairs, Inc., Bourg, La., will build the 1,350-bhp diesel towboat. Tenn-Tom Towing expects all three vessels to be ready for operation along the U.S.

inland waterways by April 1981.

If approved, the Title XI guarantee will cover up to 75 percent of the cost of the towboat and 87V2 percent of the cost of the barges, a combined total of $2,- 088,000 of the vessels' $2,499,800 estimated actual cost.

Other stories from December 1980 issue


Maritime Reporter

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