U.S. SHIPPING and NASSCO in $1 BILLION TANKER DEAL

摘要

The long-rumored deal between U.S. Shipping Partners L.P., and General Dynamics NASSCO was finally announced last month. According to an SEC filing, USS Product Carriers LLC, a newly created, wholly owned subsidiary of U.S. Shipping Partners L.P., Edison, N.J., has inked a deal with NASSCO, San Diego, Calif., for the construction of nine 49,000 dwt double-hulled product tankers, with options for five more tankers. The cost to construct the nine tankers is about $1 billion, according to U.S. Shipping Partners. That would put the cost of each vessel at about $111 million.