Page 37: of Maritime Reporter Magazine (September 1995)

tract will also be transferred to the buyer and will terminate when the vessel is actually scrapped. The vessel cannot be documented under the laws of any foreign nation other than one ballast voyage to India. The vessel was built with CDS in 1974. A previous

Section 9 application announced on July 15 was voluntarily revoked by AMT.

Applications Received • Mid-Continent Marine Partnership, Spring

Hill, Kan., has asked MarAd's permission to sell and transfer to Canadian registry the 1,048-dwt. deck barge Tecumseh (ex-U- 727). Lower Lakes Towing, Ltd., of Ontario,

Canada, would use the vessel in foreign trade between the U.S. and Canada. MarAd's permission is required by section 9 of the

Shipping Act of 1916, as amended. • MarAd has received an application from

Mormac Marine Transport, Inc., seeking to extend subsidizable life on the Mormacstar and Mormacsun to January 31, 1997.

Mormac is also asking to modify its operat- ing-differential subsidy agreement on the

Mormacsky to permit a subsidy sharing ar- rangement between the three snips. Accord- ing to Mormac's application, extending the subsidized life of tne two vessels and estab- lishing a subsidy sharing arrangement will permit the ships to remain active partici- pants in the U.S. foreign trade for a longer timeframe, and ensure employment of U.S. seafarers for this additional time. The com- pany contends that the vessels are actively engaged in the international trade and are well maintained. • MarAd has received an application from

Shibley Marine Services Corporation, Clear

Lake Snores, Texas, for a Title XI guarantee to aid in financing the construction of one oceangoing tug barge unit. The shipbuilder is Trinity Marine Group, Harvey, La. The vessel is scheduled to be delivered approxi- mately 11 months after the signing of a contract to build the unit.

The estimated guarantee amount is for $22,375,000 of the total estimated actual cost of $25,000,000, with a loan term of 25 years. • Atwood Deep Seas Ltd., Houston, Texas, has asked permission to transfer two drilling rigs to Panamanian registry, the 9,562-gt

Eagle and the 8,896-gross-ton Hunter. The vessels were built in 1982 and 1981 in

Mobile, Ala. If approved, the vessels would be used in offshore drilling operations. • Western Overseas, Inc., Sylvania, Ohio, has asked permission to sell three vessels for scrapping in India. The 30,785-dwt barge

American Veteran would be sold to Ruby

Enterprises of the British Virgin Islands, for resale to Bharat Ship Breakers Corporation, an Indian corporation. The 16,225-gt cargo vesselMargaref Lykes, built in 1968 in Ham- burg, Germany, would be sold to Mayur Steel

Corp., of Bhavnagar, India, and the 16,891- gross-ton cargo snipC/iar/otfe Lykes, built in 1968 in Vegesack, Germany, would be sold

September, 1995 to Lati Baza, also of Bhavnagar. The vessels would be scrapped in India. • MarAd has received an application from

U.S. Water Jet Express, Inc. of Glastonbury,

Conn., for a Title XI guarantee to aid in financing the construction of four Tri-Cata- maran passenger vessels, and four loading ramps. Each vessel would be propelled by two turbine engines with waterjets. They would operate between Western Long Island and

New London and Bridgeport, Conn. The proposed builder has not been determined, but delivery dates are proposed 1 2, 14, 16 and 1 8 months after approval.

The estimated guarantee amount is for $45,322,606 of the total estimated actual cost of $51,797,262. Construction period financing would be covered for 18 months and mortgage period financing would be covered for 15 years.

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