Boston VLCC Companies Ask For Title XI Aid On Tanker Retrofits
Boston VLCC Tankers, Inc. II, Boston VLCC Tankers, Inc. IV, and Boston VLCC Tankers, Inc. VI have applied to the Maritime Administration for Title XI guarantees to aid in financing the retrofitting of the tankers Massachusetts, New York, and Maryland, respectively, in compliance with new U.S. Coast Guard requirements. Each of the 265,000-dwt, 35,000- shp tankers was built at Bethlehem Steel Corporation's Sparrows Point, Md., shipyard. The Maryland and New York were delivered in October 1975 and the Massachusetts in October 1976. New inert gas and crude oil washing systems are to be installed in the vessels. The tankers operate worldwide but are in the domestic trade at six-month intervals. If approved, Title XI guarantees would cover $3 million ($1 million per vessel), or 87 V> percent of the estimated cost of $3,428,574 for the reconstruction of the three ships.