Esco Ltd News

DOT Sells Two More Ships for Recycling

The U.S. Department of Transportation’s Maritime Administration has sold two ships for recycling to Esco Ltd. of Brownsville, Texas for a total of $171,452. Resolute, a partial container/breakbulk ship built in 1980, brought a purchase price of $90,726. Resolute is currently moored at the James River Reserve Fleet site in Newport News, Va. Gulf Farmer, a breakbulk cargo ship built in 1964, brought a purchase price of $80,726. Gulf Farmer is at the Beaumont Reserve Fleet site in Texas. Both ships, which are to leave their respective fleet sites within 30 days, are to be recycled, which is the most common method of ship disposal used by the Maritime Administration. When a ship is recycled the recycler often salvages and sells metal and other materials.