MARAD approves $12 million Title XI guarantee

AUGUST 24, 2015 — The U.S. Maritime Administration reports the approval of a $12 million Title XI loan guarantee for Gray Offshore LLC supporting the recent construction of three oceangoing deck barges (see earlier story).

The Julius, Cordie and Gwendolyn are currently in service in the Gulf Coast on project cargo moves in Mexico and transporting modules for U.S. refinery upgrades.  

Gray Offshore, LLC is a barge leasing company providing marine construction and transportation services both domestically and internationally.  Construction of the barge units was completed by shipbuilder Conrad Industries, Morgan City, LA.

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