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News Digest

Thursday, August 1, 2019

U.S. Maritime Administration Approves Title XI Ship-Construction Loan Guarantee for New York Based Shipholding Group. 

The Maritime Administration today announced the approval of a $210.9 million Title XI loan guarantee supporting the recent construction of two articulated tug-barge units that are currently in service on Delaware Bay.   Construction of the barge units involved five American shipyards, including Bender Shipbuilding & Repair, Inc., in Mobile, Alabama, and Tampa, Florida; VT Halter Marine; Atlantic Marine; Tampa Ship; and International Ship Repair.  The federal loan guarantee is for OSG Delaware Lightering, LLC, a subsidiary of Overseas Shipholding Group, Inc.  MARAD’s Title XI program promotes the growth and modernization of America’s merchant marine industry while enabling owners of eligible vessels or eligible shipyards to obtain suitable long-term financing.  Media Contact: Kim Riddle (202) 366-5067.

U.S. Maritime Administration Accepting Bids on Two High Speed Vessels.

The Maritime Administration (MARAD) is now accepting bids on the ALAKAI and HUAKAI, two fast ferry vessels that were previously owned by Hawaii Superferry LLC.  Financing needed to construct the vessels was guaranteed, in part, by the Title XI Loan Guarantee Program and MARAD has obtained title through foreclosure.  Bids should be submitted before 5 p.m. July 20, 2011. Additional information can be found in the Federal Register notice.