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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

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: 

Offshore Wind Support, LLC (Edison Chouest) LaShip, LLC, Houma, LA $95,156,250 Application complete: Underwriting / due diligence

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

Great Lakes Dredge & Dock Corporation Philly Shipyard, Philadelphia, PA $215,862,500 Application complete: Underwriting / due diligence

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

Crowley SOV I, LLC Fincantieri Bay Shipbuilding, Sturgeon Bay, WI $146,475,743 Application complete: Underwriting / due diligence

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

Ice Floe LLC dba Nichols Brothers Boat Builders

The applicant is the shipyard to be modernized:
Nichols Brothers Boat Builders

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

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

Matson Navigation Company, Inc. Philly Shipyard, Philadelphia, PA $646,000,000 Application processing on hold at the request of applicant

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

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