AMCV Secures Financing For Delta Queen Coastal Vessels

Thursday, October 19, 2000
American Classic Voyages (AMCV) has issued $76.4 million of bonds guaranteed by the Maritime Administration of the U.S. Department of Transportation (MarAd). The financing will be utilized for the construction of two coastal cruise vessels that will be built at Atlantic Marine, Jacksonville, Fla., for Delta Queen Coastal Voyages - a subsidiary of AMCV. MarAd's guarantee is made possible under the authority of Title XI of the Merchant Marine Act, 1936 - it represents approximately 87.5 percent of the total anticipated cost of the two coastal vessels - which includes shipyard and design costs, vessel furniture and fixtures, and interest during construction and guarantee fees. The vessels covered under the funding are known as Cape May Light and Cape Cod Light. Named for historic lighthouses, they will be designed to resemble the classic coastal ships of the late 1800s. Cape May Light's hull was launched in June; Cape Cod Light's hull is set for launching on May 5, 2001.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


TMS Cardiff Gas Orders First LPG Carriers

TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two.

IHC Services Secures Dredger Repair Contract

IHC Services, a subsidiary of Dutch shipbuilder and repairer Royal IHC, informs it has secured an order for a renovation project for a dredging vessel owned by Huta Marine Works Ltd in Saudi Arabia.

Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,


Korean Shipbuilders in Red

South Korean shipbuilders are struggling with huge losses stemming from the delivery of low-priced ships and a delay in the construction of offshore facilities such as drill ships.

Adani Ports, L&T Ink Pact for Kattupalli Port Operations

Adani Ports  has entered into a non-binding Memorandum of Understanding with L&T Shipbuilding Limited (L&T) for evaluating the operations of the port at Kattupalli,

Transatlantic Eastbound Rates Fall

Transatlantic eastbound chemical freight rates dropped slightly this week on a continued lull in the spot market, ICIS reports  brokers as saying. It was the second drop in as many weeks.

Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2686 sec (4 req/sec)