Page 6: of Maritime Reporter Magazine (June 1995)

TITLE XI

Van Ommeren Seeks Guaran- tees For $203 M:

MarAd has received an applica- tion from Van Ommeren Tankers, (USA) L.L.C., Stamford, Conn., for a Title XI guarantee to aid in financ- ing the construction of five Double

Eagle product tankers. The proposed builder of the vessels is Newport

News Shipbuilding, Newport News,

Va. Delivery dates have not yet been determined. The estimated guaran- tee amount is for $203,875,000 of the

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SURVIVAL EPIRB is small enough to hold in one hand, yet it transmits full- strength for a minimum of 48 hours in sub-zero conditions. It's fully approved by COSPAS-SARSAT and the U.S.

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EPIRB is available in Category 1 (float- free) or 2 (manual release) models and features an economical price, five year battery life, and a mounting bracket allowing horizontal, vertical, or slanted mounting. An optional cosmetic cover is available for the Category 2 model.

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Fax (508) 898-2427 "Available on GSA Contract total estimated actual cost of $233,725,000. Construction period financing would be covered between

June 1995 and December 1998, and mortgage period financing would be covered from December 1997 through

December 2023 (see related story on page 59 of this issue).

American Tankships Asks

For Title XI Guarantees

On Product Tankers:

MarAd has received an applica- tion from American Marine

Tankships, Inc., Bethesda, Md., for a

Title XI guarantee to aid in financing up to six product tankers and conver- sion of the tanker M/V Marine Prin- cess. All would operate in the U.S. domestic trade. The proposed builder of the product tankers is Newport

News Shipbuilding, Newport News,

Va. The shipyard for the tanker conversion has not yet been named.

The total estimated guarantee amount is $274,864,000 of the esti- mated actual cost of $314,130,000.

For the newbuildings, the loan term would be 25 years from delivery of each vessel plus the construction pe- riod. For the conversion, the term would be 20 years plus the construc- tion period. The delivery dates of the vessels have not yet been determined.

Financing In Place For

Conversions At Avondale:

Financing is now in place for the construction of the first U.S.-flag tank- ers to be built to standards set by the

Oil Pollution Act of 1990, MarAd an- nounced. With the assistance of

MarAd's Title XI federal ship financ- ing program, four tankers will be constructed for American Heavy Lift

Shipping Company, New Orleans, by

Avondale Industries, Inc.

The vessels will be the first U.S.- flag tankers constructed for the do- mestic trades in more than 10 years.

They will be the first in domestic service and will comply fully with all domestic and international environ- mental requirements. "This project represents a tremen- dous vote of confidence by American

Heavy Lift and Avondale in the do- mestic U.S.-flag fleet," Maritime Ad- ministrator Albert J. Herberger said. "It is made possible by the

Administration's continued support of the Jones Act."

Mr. Herberger said the deal also demonstrates that the American oil transportation industry can and will act to comply with OPA 90 require- ments. The total value of the project is about $160 million. Of that, $139 million is guaranteed under the Title

XI program.

Dannebrog Rederi Seeks

Guarantees For $70.4 M:

MarAd has received an applica- tion from Dannebrog Rederi AS, Den- mark, for a Title XI guarantee to aid in financing three double-hulled, 16,000-dwt tankers. All would oper- ate in the international trade. The proposed builder of the tankers is

Alabama Shipyard, Inc., Mobile,

Ala. The total estimated guaran- tee amount is $70,448,400 of the estimated actual cost of $80,512,400, with a loan term of 25 years from delivery of each vessel plus construction period. The de- livery dates of the vessels have not yet been determined.

Permission Sought

Sanco Asks To Sell Oil

Platform:

MarAd has received a request filed by Sanco International, Inc.,

Brownsville, Texas, to sell the 10,046-gt oil platform Ocean Trav- eler. The proposed purchaser is

Sociedad Industrial de Productos

Siderugicos S.A. of Colombia. The platform was built in 1966 in New

Orleans. If approved, the platform would be scrapped in Cartagena,

Colombia. MarAd's permission is required under section 9 of the

Shipping Act, 1916, as amended.

Seadrill 88 Asks To Sell

Mobile Drilling Unit:

MarAd has received an applica- tion from Seadrill 88, Inc., Hous- ton, Texas, for permission to sell the mobile drilling unit Glomar

Main Pass III and transfer it to

Liberian registry. The proposed purchaser is Dual Holding Inc.,

Wilmington, Del. The 1982-built unit would be used for oil and gas exploration and extraction.

MarAd's permission is required under section 9 of the Shipping

Act, 1916, as amended.

Western Overseas Wants To

Sell Two Vessels For Scrap:

Western Overseas, Inc.,

Sylvania, Ohio, has requested per- mission to sell the 14,260-dwt John

Lykes and the 14,286-dwt Ashley

Lykes for scrapping in India. The proposed purchasers of the vessels are Sanjay Steel Corp., and Gupta

Steel, both of India. The vessels were built in 1960 in Pascagoula,

Miss., and in 1963 in Sparrows

Point, Md.

Neptune Wants To Sell

Cargo Vessel For Scrap:

Neptune International, Inc., Elk

Grove Village, 111., has asked per- mission to sell the 10,723-gt cargo vessel Genevieve Lykes to Neter

Navigation, S.A., of Singapore. The vessel was built in 1968 in

Avondale, La. If approved, the ves- sel would be scrapped in Alang,

India.

Shano Intl. Asks To Sell Fred

G For Scrap:

Shano International Inc., Great

Falls, Va., has asked permission to

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