MarAd Approves Title XI Application For 86 Barges, Towboats Jeffboat, Toutant
The Maritime Administration has approved in principle an application from American Commercial Lines, Inc., Houston, Texas, for a Title XI guarantee to aid in financing or refinancing two towboats and 86 hopper barges.
The vessels were built by Jeffboat, Inc., Jeffersonville, Ind., and delivered last year. The towboats, the M/V Jeffboat and the M/V W.T. Toutant, are 145 feet long and rated at 6,600 hp. Of the barges, 49 are 195 feet long, with a capacity of 1,446 net tons each; 18 are 200 feet long with a capacity of 1,625 tons each; and 19 are 200 feet long with a capacity of 1,648 tons each.
The approved guarantee is for $19,722,000, a p p r o x i m a t e l y 75 percent of the depreciated actual cost of all the vessels.