MSC And Ocean Carriers Sign $250-Million T-5 Tanker Pact

A $250-million agreement between the Navy's Military Sealift Command (MSC) and Ocean Carriers Inc., of Houston, Texas, to charter five diesel powered T-5 tankers was signed in New York recently.

The five new 30,000-dwt clean product, icestrengthened ships will replace 25-year-old T-5 tankers currently owned by MSC and contract operated. Signing for MSC was Rear Adm. Warren C. Hamm Jr., MSC Commander, and for Ocean Carriers, Joe F.

Vaughan Jr., president.

Ocean Carriers was selected in September 1982 to receive a $104.1-million build and charter contract for the initial two T-5 tankers.

Options for three more ships were exercised in April 1983 at a five-year charter cost of $149.4 million. Each ship will be chartered for five years with three additional five-year options.

The first two tankers, to be built by American Ship Building Co., Tampa, Fla., will be delivered in January and April 1985, two more in 1985, and the last ship in early 1986.

The new tankers offer greatly increased fuel efficiency from the slow-speed diesel engines, decreased crew size due to automation, and approximately 12-percent greater cargo capacity.

After delivery of the new, the older T-5s will be placed in reserve.

Maritime Reporter Magazine, page 74,  Aug 1983

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