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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

Asia Tankers-VLCC Rates to Hold, Ample Tonnage Weighs

"Pure" chartering market with little disruption. Rates to hold around W45 for Middle East; W48 for West Africa. Freight rates for very large crude carriers (VLCCs)

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.0696 sec (14 req/sec)