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 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to

Rolls-Royce to Design, Equip Stern Trawler for Ramoen

The Armon shipyard in Gijón, Spain has entered into a contract to build a new Stern Trawler for the Norwegian fishing company Ramoen. The vessel will be a Rolls-Royce design,

India to Develop Iran's Chabahar Port

India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2150 sec (5 req/sec)