Tacoma Boat Awarded $110-Million Contract To Build Passenger Liner
B. James Lowe, president of Tacoma Boatbuilding Company of Tacoma, Wash., has announced that details of a contract valued at $110 million with Gulf Pacific Cruise Lines of Houston for construction of an 800-passenger cruise liner have been finalized. Implementation of the contract had been contingent upon Gulf Pacific's securing of final financing.
According to Mr. Lowe, the Houston-based company has now obtained appropriate letters of credit from a major financial institution.
Gulf Pacific recently applied to the Maritime Administration for a Title XI mortgage guarantee that would cover 75 percent of the cost of the vessel, which will be named the Galveston.
Approval of the application, expected within 90 days, will signal the go-ahead for the project.
The new ship will be based in Galveston, Texas, and operate cruises in the Gulf area. It is estimated that delivery of the U.S.- flag vessel will be about three years after start of construction.
According to Gulf Pacific president Julio Giannotti, his company also plans to buy the former Matson passenger ship Monterey, which is laid up in San Francisco and now owned by American Maritime Holding Inc. The passenger capacity of the 14,799-gt ship would be increased from 350 to 600. Gulf Pacific intends to request a Title XI guarantee from MarAd to aid the financing of the conversion, which could be accomplished in about 12 months' time.
Other stories from July 15, 1984 issue
- Tacoma Boat Awarded $110-Million Contract To Build Passenger Liner page: 4
- Hitachi Zosen Delivers Bulk Carrier To Greek Owner page: 5
- Cummins Engine Announces New Engine Model Codes For Marine Product Line page: 5
- Engineering Partnership Formed By Kongsberg And McDermott International page: 6
- Deutsch Metal Offers Free Pyplok Catalog page: 6
- Bender Delivers 98-Foot New Bedford Scalloper page: 7
- Philadelphia Gear Supplies New Propulsion Drives For San Francisco Ferry Boats page: 8
- Gennaro Oliva Joins Atlantic Coast Enterprises page: 8
- Bob Daniels Named New Marland President & CEO page: 9
- NABRICO Names Gower VP-Engineering page: 9
- American-Standard Offers Free Bulletin On FanEX® Air/Oil Heat Exchangers page: 9
- Sonat Subsea Services Appoints Senior VP page: 10
- New Raytheon SSB Is Microprocessor Controlled —Literature Available page: 10
- NOR-FISHING '84 page: 12
- OFFSHORE NORTHERN SEAS page: 16
- SCANDINAVIAN SHIPBUILDING page: 23
- Magnavox MX 1100 Series Navigators GPS Upgradable —Literature Available page: 34
- Ingram Materials Expands Bulk Marine Terminal page: 35
- Emerson Shank Joins Desco Marine As VP Sales And Marketing page: 35
- Navy Adding 19 Ships To Ready Reserve Force page: 36
- AMR™ Is New Name For Transamerica Delaval Line Of Three-Screw Pumps page: 37
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