Pending Applications
| Applicant | Shipyard | Requested Loan Amount | Status | ||
|---|---|---|---|---|---|
| American Offshore Services, LLC |
Blount Boats, Warren, RI Metal Shark Marine, Franklin, LA |
$43,180,322 | Application submitted: Initial review in progress | ||
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No. of Ships: 4 Types of Vessels/Projects: Four (4) Crew Transport Vessels (CTV) used to transport technicians to install and maintain offshore wind turbines for the U.S. East Coast offshore windfarms. Actual Cost to Applicant: $61,686,175 Requested Term: 15 years Application Received and Accepted: |
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| Offshore Wind Support, LLC (Edison Chouest) | LaShip, LLC, Houma, LA | $95,156,250 | Application complete: Underwriting / due diligence | ||
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No. of Ships: 1 Types of Vessels/Projects: one new, first-of-its-kind, ‘plug-in hybrid’ service offshore vessel (SOV) to transfer technicians and spare parts safely to and from Wind Turbine Generators (WTG) for operation and maintenance of Empire Wind I & Empire Wind II Wind Farms located in the northeast United States. Actual Cost to Applicant: $108,750,000 Requested Term: 15 years Application Received and Accepted: January 10, 2023 |
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| Great Lakes Dredge & Dock Corporation | Philly Shipyard, Philadelphia, PA | $215,862,500 | Application complete: Underwriting / due diligence | ||
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No. of Ships: 1 Types of Vessels/Projects: One (1) Subsea Rock Installation Vessel (SRIV), Vessel set for operation on the northeastern continental U.S. installing Wind Turbine Generators Actual Cost to Applicant: $246,700,000 Requested Term: 25 years Application Received and Accepted: September 3, 2023 |
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| Crowley SOV I, LLC | Fincantieri Bay Shipbuilding, Sturgeon Bay, WI | $146,475,743 | Application complete: Underwriting / due diligence | ||
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No. of Ships: 1 Types of Vessels/Projects: One (1) new build Service Operation Vessel (SOV), a key vessel for U.S. offshore wind farms, used to transfer and accommodate land-based technicians to service and maintain offshore wind installations. Actual Cost to Applicant: $167,840,708 Requested Term: 20 years Application Received and Accepted: April 2, 2024 |
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| Ice Floe LLC dba Nichols Brothers Boat Builders |
The applicant is the shipyard to be modernized: Suppliers / Builders 1. HCI Steel Buildings, LLC. 2. Pemamek LLC. (PEMA Welding Automation) 3. ASSA ABLOY Entrance Systems 4. American Crane 5. MEGA DOOR |
$7,183,939 | Letter Commitment issued: Awaiting loan closing | ||
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No. of Projects: 1 Types of Shipyard Modernization Project: The project consists of turnkey construction and installation of: (1) Micro Panel Line for Steel Vessel Construction: Equipment Purchase and installation. (2) Steel Panel Line Building: New Construction. (3) Module Erection Area Upgrades: New Equipment and Upgrades Actual Cost to Applicant: $8,210,216 Requested Term: 20 years Application Received and Accepted: February 12, 2024 |
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| Matson Navigation Company, Inc. | Philly Shipyard, Philadelphia, PA | $646,000,000 | Application processing on hold at the request of applicant | ||
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No. of Ships: 2 Types of Vessels/Projects: Two (2) 854-foot Containerships Actual Cost to Applicant: $750,000,000 Requested Term: 25 years Application Received and Accepted: July 24, 2024 |
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Title XI Application Workflow
- Application submitted: Initial review in progress
- Application complete: Underwriting/due diligence
- Review complete: recommendation pending
- Project approval recommended: Letter commitment pending
- Letter commitment issued: Awaiting loan closing
* If an applicant requests processing be stopped at some point, the following would substitute the above --
- Application processing on hold at the request of applicant
- Application withdrawn or terminated
Last updated: Tuesday, January 7, 2025