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MARAD Signs with Panama City Shipyard

PANAMA CITY, Fla. – U.S. Maritime Administrator David Matsuda today announced a $241 million loan guarantee that will allow the Eastern Shipbuilding Group of Panama City, FL, to build five platform supply vessels (PSVs) for export to Brazil, to provide service in new deepwater oil fields there. “This project means good jobs for Panama City today and a stronger economic future for our country,” said U.S. Transportation Secretary Ray LaHood.