Jeffboat Building Three Title XI Approved Cruise Vessels Worth $28-Million
The Maritime Administration has approved in principle a joint application by Coastal Cruise Line, Inc., Republic Cruise Line, Inc.
and Liberty Cruise Line, Inc., all of 120 S. Central Avenue, St.
Louis, Mo., for a Title XI guarantee to aid in financing the construction of three passenger cruise vessels.
The vessels will be 207 feet long and have a beam of 37 feet and a full-load draft of 7 feet. Each will accommodate 100 passengers and require a crew of 23.
The vessels are expected to visit ports on the U.S. East Coast including Boston, Baltimore, Savannah and Miami during the spring, summer and fall and the U.S. Virgin Islands in the winter.
Jeffboat, Inc., Jeffersonville, Ind.
is the builder of the vessels. Delivery dates are September 1983, December 1984, and July 1985. (See MR, 9/1/82.) The Title XI guarantee covers $21,360,000 or 75 percent of the estimated actual cost of the three vessels.
The MarAd Guarantee is designed to assist the companies in obtaining favorable commercial financing for the project.
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