AMO Currents - <i>Ocean Atlas</i> delivers Ex-Im Bank project equipment under cargo preference

AMO Currents - Posted: March 17, 2011

Ocean Atlas delivers Ex-Im Bank project equipment under cargo preference

The heavy-lift vessel Ocean Atlas, operated by Pacific-Gulf Marine for Intermarine Inc. and manned in all licensed positions by AMO, this week loaded the fifth of six cargo hauls for mining operations in South America. The equipment, financed by the U.S. Export-Import Bank, is being carried entirely on U.S.-flagged vessels manned by U.S. crews.

Intermarine hosted a group of government, labor and industry professionals in Baltimore, Md., to highlight the project as the Ocean Atlas loaded Globe cranes destined for Chile and Peru. Speaking at the event, Maritime Administrator David Matsuda cited President Obama's mandate to double U.S. exports. The cargo loaded by the Ocean Atlas is a "model example" of how that directive can move forward, he said.

The Export-Import Bank's mission is to assist in financing the export of U.S. goods and services to international markets. 100 percent of cargo financed by the Ex-Im Bank must be carried exclusively on U.S. vessels.