Three R Trusts Requests Title XI To Construct Tug/Supply Vessel
Three R Trusts, Post Office Box 1168, Galveston, Texas, has applied for a Title XI guarantee to aid in financing the construction of one twin-screw tug/supply vessel. The applicant, owner of three vessels, consists of trusts established by Robert L. Moody, 20 South Shore, National Bank Building, Galveston, for the benefit of his children.
The applicant i n d i c a t e s the vessel will carry provisions and construction material to offshore drilling sites, and may operate in foreign and domestic commerce. It will be 185 feet in length, with a beam of 38 feet, a depth of 14 feet, and a loaded draft of about 11 feet. Having a gross tonnage of less than 300, it will be powered by two marine diesel engines rated at 1,250 horsepower each. The estimated actual cost of the vessel is $2,437,500, of which 871/' percent, or approximately $2,100,000 is eligible for Title XI financing. Zigler Shipyards, Jennings, La., has been selected to build the vessel.