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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

G6 Alliance Extends Asia – North America Service

In response to market demand, members of the G6 Alliance today announced the below enhancement to improve the Asia – North America (East Coast) trade. NYK will

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Finance

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

 
 
Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1291 sec (8 req/sec)