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

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Shipbuilding

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1835 sec (5 req/sec)