Schuyler Line secures $17.1m US government contract

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Schuyler Line Navigation was awarded a $17,155,000 firm-fixed-price, with reimbursable elements, for time charter of one approved upon delivery U.S. flag or foreign flag to be reflagged prior to delivery, double hull tankers with segregated ballast tanks that is capable of carrying a minimum of 38,500 barrels of clean product (intentions F76, JP5, JP8, or JA1) as long as two clean products can simultaneously be carried within vessel’s natural segregation in designated cargo tanks with double valve isolation without losing the capacity to carry the established minimum.

This contract includes a 12-month base period with three one-year option periods, and a fourth 11-month option which if exercised, would bring the cumulative value of this contract to $71,013,000. The contract will be performed in the Far East. The contract is expected to be completed, if all options are exercised, by September 2028. Working capital funds (Transportation) in the amount of $17,155,000 is obligated for fiscal 2024 and will expire at the end of the fiscal year.