The Maritime Administration (MarAd) has 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 performing opertions on the Delaware Bay. Construction of the barge units involved five American shipyards, including Bender Shipbuilding & Repair, Inc., 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.
July 8, 2011
Marine Log News
- 2012-11-16 - MarAd guidance on Sandy Jones Act waiver requirements
- 2012-11-28 - Marad funds three vessel repowering demo projects
- 2013-01-24 - Liberty Maritime files suit against MARAD
- 2013-02-04 - Dr. Arthur Sulzer sworn in to Seaway Advisory Board
- 2013-04-02 - USDOT says Bravante launch shows value of Title XI
- 2013-04-10 - Marad seeks applications for Small Shipyard Grant awards
- 2013-05-13 - Matsuda to step down as Administrator
- 2013-05-21 - Hunter looks for more for maritime from new DOT leadership