SeaAmerica And Ingalls In Discussions

Monday, March 12, 2001
Litton Ingalls Shipbuilding has completed the full design package including ship's architectural specification and contract drawings for SeaAmerica Cruise Lines. SeaAmerica and Ingalls continue their contract discussions and price negotiations for two 47,850 grt, 1,000 passenger cruise ships, with an option for an additional vessel. In March 2000 the companies signed a Memorandum of Agreement (MOA), under which they agreed to jointly develop the design for the vessels. SeaAmerica has also recently filed for Title XI financing with the Maritime Administration of the Department of Transportation. Title XI is a federal government shipbuilding loan guarantee program that supports privately funded projects to encourage building of ships in the United States.

"Although not a subsidy program, Title XI is vital to vessel operators to line up investors for projects of real merit," said David W. Turner, Chairman/CEO of SeaAmerica.

"Should the companies reach agreement, SeaAmerica believes this contract could be one of the largest non-military shipbuilding contracts ever in the United States", Turner continued. "By building the ships and exercising the option, this contract's value will be approximately $1.4 billion. The total economic impact of these vessels is estimated at $4.8 billion. New ports of call are planned that currently are not visited by other cruise ships. Other cities, like Charleston, S.C. and Savannah, Ga., which already have occasional ship calls, would see more tourism."

The company plans to be South Florida based, but may have a training facility and/or call center outside the State of Florida. For two cruise ships, SeaAmerica will be hiring 1,200 shipboard and 100 shore side employees over the next four years. Each subsequent vessel represents another 600 employees.

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

People & Company News

ThyssenKrupp Says Submarines Part of Growth Story

Germany's Thyssenkrupp sees its submarine business as making an important contribution to its growth targets, the head of its Industrial Solutions business area said on Tuesday.

Two Newbuilds Delivered to Star Bulk

Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers

Brazil Truck Strike Diminishes

Some truck drivers in Brazil continued blocking roads on Tuesday, slowing grains deliveries to southern ports, even as adherence to the strike diminished and a

Shipbuilding

Shipping Industry Faces Shake Up

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate

ThyssenKrupp Says Submarines Part of Growth Story

Germany's Thyssenkrupp sees its submarine business as making an important contribution to its growth targets, the head of its Industrial Solutions business area said on Tuesday.

Gas Turbine Alternator Installed into Aircraft Carrier

The Aircraft Carrier Alliance has completed the installation of the first MT30 Gas Turbine Alternator (GTA) package into the Royal Navy’s latest aircraft carrier HMS Prince of Wales,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.2499 sec (4 req/sec)