Page 33: of Maritime Reporter Magazine (September 1995)

Maritime Administration News

Mississippi Rivers. Approximately 180

American seafaring and additional shoreside jobs were created when the ship began op- erations on June 27,1995, according to the vessel's owners, Great A.Q. Steamboat Com- pany, which is a subsidiary of Delta Queen

Steamboat Company of New Orleans, La.

Delta Queen is a wholly-owned subsidiary of

American Classic Voyages. MarAd over- sees the federal shipbuilding loan guarantee program (Title XI), a critical segment of the

Administration's National Shipbuilding Ini- tiative. • MarAd has approved a federal loan guar- antee to aid in financing the construction of a new U.S.- flag, double hull tank barge and tug. Martin Gas Marine, Inc. (MGM), Kilgore,

Texas, requested the guarantee. The barge will be built by AMFELS, Inc., Brownsville,

Texas, at a cost of approximately $10.5 million. It is expected to be delivered in

December. Trinity Marine Group, Inc., Moss

Point, Miss., will build the tug. Valued at approximately $6.1 million, it is expected to be completed in mid-1996. The approved guarantee is for approximately $14.5 mil- lion of the project's total cost. Under the ship financing program administered by MarAd, the qovernment does not make direct loans.

Funds are secured in the private sector with repayment guaranteed by the government.

Upon delivery, the tug and barge will be time chartered to Martin Gas Sales, Inc., an affili- ate of MGM, and will operate between the

Gulf Coast and Tampa, Fla. • The Maritime Subsidy Board granted ap- proval to terminate the final chartered voy- age of the Sue Lykes [ex-President Wilson) in

Capetown, South Africa prior to returning the vessel to its owner, American President

Lines, Ltd. Lykes will deliver the vessel to APL in Capetown following completion of cargo operations. The vessel was operating under a operating- differential subsidy (ODS) agree- ment on Trade Route 15-B U.S. Gulf/South and East Africa. The board's approval was required because Lykes' subsidy contract states that a vessel's final subsidized voyage would terminate at a U.S. port. TheSueLytes will be deleted from Lykes ODS contract after cargo is discharged in Capetown. • The Maritime Subsidy Board granted ap- proval to Ultra Maritime Inc. and Fortune

Maritime Inc., to sell the Ultramax (ex-

Ultramar) and Ultrasea to Octavia Holdings

S.A., a Panamanian corporation, for docu- mentation and registry under Bahamian flag.

Conditions on the foreign transfer are that thevesselsarere- flagged underthe Panama- nian, Honduran, Liberian, Bahamian or

Marshall Islands registry. The Ultramax and the Ultrasea were built by National Steel and

Shipbuilding Co., San Diego, in 1973 and 1974, respectively, with the aid of construc- tion differential subsidy. • MarAd Maritime Subsidy Board granted approval to OMI Patriot Transport, lnc.,OMI

Courier Transport, Inc., andOMl RoverTrans- port, Inc. to amend all operating- differential subsidy (ODS) agreements which currently cover the Courier, Patriot, Ranger, Rover,

OMI Missouri and OMI Sacramento to in- clude theOM/ Columbia in a subsidy sharing agreement. Penn- Attransco Corp. opposed the inclusion of the OMI Columbia in the subsidy-sharing arrangement. The board noted, however, that "any domestic opera-

September, 1995 tions of the OMI Columbia during the sub- sidy- sharing arrangement would have no adverse effect on Penn Attransco." The board also noted that the amount of ODS payable under the contracts would not be increased beyond that already authorized. • MarAd and the Maritime Subsidy Board approved Farrell Line Inc.'s request to extend the subsidizable life of the Export Freedom for five months, from Aug. 7, 1997, until

Dec. 31, 1997. The MSB stated that this determination "does not constitute a prece- dent for a board action inanysimilarcases." • The Maritime Subsidy Board has approved a request by American Maritime Transport,

Inc. (AMT) to sell the tankerGo/den Endeavor to Western Overseas, Inc. for scrapping in

India. The vessel is subject to a construction differential contract (CDS) under Title Vof the

Merchant Marine Act 1936. The CDS con-

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