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Seaamerica News

31 Mar 2000

Pascagoula ... World’s Burgeoning Cruise Capitol?

Litton Ship Systems' Ingalls Shipbuilding division, located in Pascagoula, Mississippi, has signed a Memorandum of Agreement (MOA) with SeaAmerica Cruise Lines, Inc., based in Hollywood, Fla. Under the MOA, Litton and SeaAmerica will develop a ship design leading to contract negotiations for the construction of two 42,000-ton, 1,000 passenger cruise ships. The program will include options for two additional ships. Construction of the cruise vessels would utilize both of Litton Ship Systems' production facilities — Litton Ingalls Shipbuilding in Pascagoula and Litton Avondale Industries in metro New Orleans, La., and maximizing the resources and experience of both shipyards to achieve operating synergies.

12 Mar 2001

SeaAmerica And Ingalls In Discussions

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.

30 Apr 2001

SeaAmerica, Litton Ingalls In Discussions

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.

27 Mar 2000

Litton, SeaAmerica Sign Agreement On Cruise Ship Program

Litton Ship Systems' Ingalls Shipbuilding division, has signed a Memorandum of Agreement (MOA) with SeaAmerica Cruise Lines, Inc. to develop a ship design leading to contract negotiations for the construction of two 42,000-ton, 1,000 passenger cruise ships. The program will include options for two additional ships. Construction of the cruise ships will utilize both of Litton Ship Systems' production facilities - Litton Ingalls Shipbuilding in Pascagoula and Litton Avondale Industries in metro New Orleans, Louisiana, and maximize the resources and experience of both shipyards to achieve operating synergies. "SeaAmerica anticipates receiving MARAD Title XI financing for our new program,'' said David W. Turner, SeaAmerica chairman and chief executive officer.

05 May 2000

News

Litton Ingalls Shipbuilding signed a Memorandum of Agreement (MOA) with SeaAmerica Cruise Lines, Inc., based in Hollywood, Fla. Under the MOA, LSS and SeaAmerica will develop a ship design leading to contract negotiations for the construction of two 42,000-ton, 1,000-passenger cruise ships. The program will include options for two additional ships. Construction of the ships would utilize both of Litton Ship Systems' production facilities, Litton Ingalls Shipbuilding in Pascagoula and Litton Avondale Industries in New Orleans, and would maximize the resources and experience of both shipyards to achieve operating synergies. Accommodations will include 87 percent outside cabins (most with private balconies)…

17 Apr 2000

Editor's Note

Despite seemingly best efforts by world leaders, it appears that the wild gyrations ,which are the hallmark of the oil industry, will never truly be tamed. For proof, simply check out the Offshore Market report on page 32, which touts the “lingering $30+” barrel of oil. Between the writing of that piece and this one (about a week), OPEC leaders had met, decided to boost production seven percent and sent oil prices screaming down below the $25 level. While an immediate $5 per barrel price would normally spread doom throughout the GOM region and all of the various maritime industries which support it — it seems that confidence regarding a second-half 2000 bounceback is still intact. OPEC’s recent actions were driven more by politics than anything else, as U.S.