Company says it is promised decision on Title XI application

Tuesday, July 24, 2012

Robert K. Kurz, the chief executive officer of American Petroleum Tankers (APT) said the government has agreed to give it a verdict on whether it will grant a Title XI loan guarantee for five 49,000-deadweight-ton petroleum tankers that were built at the General Dynamics NASSCO shipyard in San Diego, Calif. between 2006 and 2010 for the U.S. coastal trade. Kurz said the Department of Transportation and Maritime Administration told a U.S. District Court for the District of Columbia ...

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