Subsidy Approved On USL Conversion Job To Cost $5.3 Million

The Maritime Subsidy Board has approved the award of a $2,569,934 subsidy to Maryland Shipbuilding and Drydock Company for reconstruction work on the United States Lines, Inc., containership American Merchant.

The Baltimore shipyard is increasing the ship's container capacity from the equivalent of 1,028 twenty-foot units to 1,340 TEUs. The ship also is being modified to carry 40-foot containers in its holds.

The grant, under the construction- differential subsidy program, amounts to 48.56 percent of the shipyard's contract price of $5,- 291,934 for the work. In addition, the Federal Government will pay $244,187 for the installation of certain military features requested by the Department of the Navy. As a condition of the subsidy, United States Lines will offer to enroll the vessel in a sealift readiness program approved by the Secretary of Defense.

Maritime Reporter Magazine, page 18,  Jun 15, 1981

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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.