Military Sealift Command Looking for Ferry Vessel(s)

MarEx is wondering if they know that the Hawaii Superferry is available?

This week, the Passenger Vessel Association notified its members that the U.S. Navy’s Military Sealift Command (MSC) has issued a Market Survey to ask about the cost and availability of U.S. ferry vessels. Anticipated delivery will occur on October 1, although the vessel owner may propose alternate delivery dates. The location of proposed usage will be Guam, Saipan and adjacent Pacific Ocean waters. The time charter will be for 12 months, with the possibility for three additional year-long renewals. The closing date for responding to the Market Survey is July 14, 2009.

For further questions, contact Ms. Jessica Chu of MSC at 202-685-5519 (phone) or [email protected], or click HERE.

MarEx Editor’s Notes: MarEx readers are no doubt aware that the Hawaii Superferry is bankrupt. And while the specifications for the MSC “Market Survey” are rather vague (Enclosed air-conditioned space sufficient to accommodate a minimum of thirty (30) seated passengers for transfer in Guam, and a minimum of forty five (45) seated passengers for transfer in Saipan. Toilet facilities for passengers. No berthing or victualling required), certainly the Alakai would easily meet those requirements. In addition to as much as $85 million in equity capital provided through the private equity firm J.F. Lehman & Co., the federal Maritime Administration (MARAD) also provided a guaranteed $136 million Title XI federal loan, and the state of Hawaii has also kicked in tens of millions more to jumpstart the project. All of which means we probably already own a large chunk of this boat. Sounds like a potentially cheap charter rate to us. MarEx telephone calls to MSC and MARAD PAO’s for comments on the matter were not returned.

Read our June 4th 2009 Editorial on the Hawaii Superferry by clicking
HERE.