Approve Application For $22 Million Title XI For Towboat, 68 Barges

The Maritime Administration has approved in principle an application by Wisconsin Barge Lines, Inc., Sunset Hills, Mo., for a Title XI guarantee to aid in financing the construction of one towboat and 68 barges.

American Bridge, Ambridge, Pa., delivered 15 rake barges earlier this year and Dravo Corp., Pittsburgh, Pa., delivered 25 box barges. St. Louis Ship, St. Louis, Mo., is scheduled to deliver 28 barges and the towboat by early 1982. Included are 53 box barges and 15 rake barges.

The towboat will have a length overall of 168 feet, a molded beam of 40 feet, and main machinery is rated at 1,900 hp.

Of the actual estimated cost of $26,003,737, the Title XI guarantee covers $22,119,000 (75 percent of the estimated actual cost of the towboat and 87% percent of the estimated cost of the barges).

Maritime Reporter Magazine, page 16, Nov 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.