MarAd Approves Title XI To Finance $23.2-Million Barge/Towboat Program
The Maritime Administration has approved in principle the application of Flowers Transportation, Inc., 1024 Washington Building, Greenville, Miss., for Title XI guarantee to aid in financing the construction of three towboats and 72 barges, and the refinancing of one towboat and five barges.
Construction financing will cover towboats with the following characteristics: (1) 4,200 hp, 42- foot beam, 140-foot length overall, crew 11; (2) 5,600 hp, 42-foot beam, 140-foot length overall, crew 11; (3) 6,700 hp, 50-foot beam, 168-foot length overall, crew 15. Draft for all three is 8 feet 6 inches. Thirty of the barges are semi-integrated hopper barges with deadweight capacity of 1,960 short tons; the remaining barges are box hopper vessels of two sizes — 1,748 or 1,800 short tons deadweight capacity. The towboats were delivered between August and November 1975, and the barges between March 1975 and February 1976.
The refinanced vessels include a 5,600-hp towboat with 42-foot beam, 140-foot length overall, draft of 8 feet 6 inches, and a crew of 11; and five covered hopper barges with deadweight capacity of 1,800 short tons. The towboat was delivered in September 1973, and the barges were delivered between December 1974 and February 1975.
Total estimated cost of the vessels is $23.2 million. The shipbuilders included St. Louis Ship, St. Louis, Mo., for 12 box hopper barges, and Dravo Corporation for the towboats and 65 barges. The applicant transports bulk commodities on the Mississippi River System and the Gulf Intracoastal Canal.