CROWLEY ASKS TO RETAIN SUBSIDY FOR MARINE TRANSPORT VESSELS
Crowley Marine Corp., based in Oakland, has requested permission from the U.S. Maritime Administration to allow two ships owned by Marine Transport Corp. to go on collecting operating-differential subsidy after Marine Transport becomes a subsidiary of Crowley.
Crowley has agreed to buy all outstanding shares of Marine Transport for $7 a share.
The vessels are the Chemical Explorer and Chemical Trader. Comments may be directed to Edmond J. Fitzgerald at MarAd, (202) 366-2400.