Page 4: of Maritime Reporter Magazine (May 1996)

$36 Million In Federal Assistance Gees Te Help The Louisiana Maritime Industry

President Clinton approved $36 million in federal assistance to help finance construction of five vessels in three Louisiana ship- yards, and to help modernize one shipyard.

President Clinton said "We are enabling American shipbuilders to compete in a global marketplace and be an economic force into the next century."

A seven-year, $13 million Title XI loan guarantee is for Alpha Marine

Services, Inc. to construct a deep submergence rescue vehicle sup- port ship. According to the

Maritime Administration (MarAd), the estimated cost of the new ship is $16 million. It will be built by

North American Shipbuilding,

Inc., and is to be delivered by mid- 1996. Global Industries, Ltd. was granted a 25-year, $20 million Title

XI loan guarantee to build two lift boats, a 300-ft. (91-m) deck barge and a 400-ft. (122-m) launch barge.

Bollinger Shipyards, Inc. will build the liftboats, and Service Marine

Industries will build the barges.

These vessels will operate in the

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Gulf of Mexico but will be able operate worldwide, according

MarAd.

A third Title XI loan guarantd was approved for T.T. Bars

Services, Inc., to help finance a million shipyard modernization. 15-year, $3 million guarantee wJ approved for this project, whid will involve installing a Syncrol^ vessel transfer system.

Libra Group To Buili 8 Container VesselsJ

Lease Shipyard

Libra Group of Brazil, parei) company of Companhia Maritir

Nacional, will build eight contai^ erships at a cost of $560 million

CCN/Maua Rio de Janeiro. In I move to avoid financial probler within the Brazilian shipbuildir industry and ensure quality coi| trol and delivery dates, Libra undertake a four-year lease of t! shipyard. The order is for fov 2,300-TEU vessels, two 3,700-TE] and two 1,700-TEU vessels.

The 3,700-TEU ships will be 7S ft. (242 m) long, and will call at tv ports in North Europe and two i|

Brazil. The other ships will car containers and some breakbull cargo, and will have container gee onboard. Operating under a new!) formed Libra subsidiary callel

Estaleiiro Niteroi (Niterq

Shipyard), the facility will be cor pletely controlled by Libra, excej for the vessel repair business. "This is the first time that

Brazilian shipowner has take] control of building its own vessel] in a Brazilian yard. Libra's 5E year commitment to Brazil's worll trade was a major factor in beinl able to secure this arrangement! said Thomas Lloyd, vice pres| dent and general manager

Nacional.

According to Mr. Lloyd, the ship yard lease is part of an investmer program created by Libra Grouj that will run to the year 2000.

The project will be 85 percer financed by the Banco Nacional

Economic and Social Developmenl (BNDES) through a merchant marine financing program. IjT most countries, shipyards obtaii) financing for newbuildings

However, Brazil requires shipowr ers to obtain the funding and thei| pass it along to the vessel cor struction order. The Libra leas! program will bypass the probler encountered by shipyards that dJ not have the assets to guarantee the funds.

Chinese Yard To Fill Six Vessel Order

Steamers Maritime Holdings has ordered six containei ships for approximately S85 million. All the vessels will bl built by China's Jinling Shipyard in Nanjing. Each of thl larger ships is valued at approximately $16 million. Thl first will be delivered in late 1997. The two 383-TEU unif are valued at $10.5 million each. These will be delivered in the second and third quarters of 1997. The ships will bl classified by Germanischer Lloyd. This contract brings thl total number of vessels under Steamers' current newbuiltf ing program to nine. The company has also ordered tw| 383-TEU ships from Wuhu Shipyard. 6 Maritime Reporter/Engineering News