Contracts Signed For Cumberland Shipping Ro/Ro Barge Vessel

Contracts were signed on December 22, 1977, for the subsidized construction of a self-propelled, roll - on / roll - off (ro / ro) barge vessel at Seatrain Shipbuilding Corp., New York, N.Y.

The negotiated fixed-price of the commercial vessel is $12,796,324. The vessel, which will have the capacity to carry 113 forty-foot trailers, is the first of its kind to be built with the aid of construction- differential subsidy. It will have an overall length of 446 feet, a beam of 80 feet, and a depth of 271/2 feet.

The Maritime Administration will pay $5,286,324, or 41.34 percent, of the cost of the vessel.

This represents the difference between the fixed price and the estimated cost of having the vessel built in a foreign shipyard. The government also will pay the entire cost of $43,292 for national defense features incorporated in the vessel.

The ro/ro is being built for Cumberland Shipping Company, Inc., One Chase Manhattan Plaza, New York, N.Y. Cumberland plans to use it in the U.S. foreign trade, primarily in the Caribbean.

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