Amerada Hess To Build Five Catug Units At Cost Of $283,800,000

Assistant Secretary Robert J.

Blackwell, U.S. Department of Commerce, Maritime Administration, has approved in principle an application from Amerada Hess Corporation, 1185 Avenue of the Americas, New York, N.Y., for a Title XI guarantee to aid in financing the construction of five integrated "Catug" t u g / b a r g e tanker units, each to be owned by a wholly owned subsidiary of Hess. Bethlehem Steel Corporation, Sparrows Point, Md., has been named shipbuilder.

Each unit will have an overall length of 666 feet 8 inches, molded beam of 95 feet, and a fullloaded draft of 40 feet 6 inches.

Service speed will be 15 knots, under 18,200 horsepower. Gross tonnage will be 1,860 per tug, and 24,500 per barge, with the deadweight capacity of each barge being 46,238 light tons at maximum draft.

The estimated actual cost of each vessel is $56,760,000, or a total of $283,800,000 for the five.

The Title XI guarantee, not to exceed 87% percent of actual cost, will be approximately $49,665,000 for each vessel, or $248,325,000 total.

The applicant indicated the vessels are intended to be used in the carriage of petroleum products for Hess from their Virgin Islands refinery to the mainland of the United States. They will be operated either by Hess or by Apex Marine Inc., the operating subsidiary of the Berger Group.

The Hess subsidiaries which will own the vessels are First Tug/ Barge Corporation, Second Tug/ Barge Corporation, Third Tug/ Barge Corporation, Fourth Tug/ B a r g e C o r p o r a t i o n , and Fifth Tug/Barge Corporation. All are located at 100 West Tenth Street, Wilmington, Del., but use the Hess address for correspondence.

Maritime Reporter Magazine, page 20,  Dec 15, 1978

Read Amerada Hess To Build Five Catug Units At Cost Of $283,800,000 in Pdf, Flash or Html5 edition of December 15, 1978 Maritime Reporter

Other stories from December 15, 1978 issue


Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.