MarAd Approves Title XI For Two Tankers Costing $129 Million

Assistant Secretary of Commerce for Maritime Affairs, Maritime Administration, Samuel B.

Nemirow has approved in princiciple an application by Ogden Shamrock Transport, Inc., and Ogden Hudson Transport, Inc., two wholly owned subsidiaries of Ogden Bulk Transport, Inc., 280 Park Avenue, New York, N.Y., for Title XI guarantees to aid in financing the construction of two diesel-powered product tankers. Avondale Shipyards, Inc., New Orleans, La., is the proposed builder for both 50,624-dwt vessels. Avondale expects to deliver the first of the tankers to Ogden Shamrock next March, and the second to Ogden Hudson in June. Both vessels are suited to carrying chemical, petrochemical, and petroleum products. They also may be used to carry grain to countries receiving U.S. aid, and possibly compete against foreignflag tankers in the Caribbean trade.

The Title XI guarantee will cover 871- percent of the vessels' estimated actual cost: $56,049,000 of the Ogden Shamrock tanker's $64,056,220 estimated actual cost, and $57,047,000 of the Ogden Hudson tanker's $65,197,224 estimated actual cost.

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