USDOT says Bravante launch shows value of Title XI

APRIL 2, 2013 — With President Obama out beating the drum for more investment in infrastructure and job creation, the U.S. Department of Transportation is pointing to a series of export OSVs under construction at Eastern Shipbuilding, Panama City, FL, as examples of the effectiveness of private public partnership.

The first of the OSVs, the 284 ft Bravante V, was launched at Eastern’s Nelson Street shipyard last month. It is the first of five platform supply vessels that Eastern is currently constructing for Boldini, S.A. of Brazil with the help of a $240.8 million Title XI loan guarantee from the U.S. Maritime Administration.

“By choosing Eastern, Boldini helped create 350 jobs in Panama City, which in turn added more than 2,600 overall new jobs to the U.S. economy through suppliers and other jobs in the local economy,” says a posting on Fastlane, which is described as “The Official Blog of the U.S. Secretary of Transportation.”

“This is the kind of return we hoped for when we awarded Eastern two small shipyard grants totaling $3.4 million to buy new panel lines, and modern welding equipment,” continues the blog.

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